fourtiwinks

0912: My PM chart... 1015: Yup, point taken, Db. I failed to take note of price in the context of PD range.. was too focused on ON range and making wrong assumptions based on it.

0908: Here is my PM chart... 0909: Since there are more pivots above than below current price, I assume that NQ will test PDLs after the Open. 0919: The mid of the range seems to be about halfway between PDC and PDL. Curious to observe if there is any significance to it.. (No signifcance whatsoever..) 0940: Wow, NQ is slicing thru the past PDLs like they were made of butter.. 0949: Is a hinge forming? 0952: Looks like the BD from the hinge is TDTDB. A range could be forming instead.. 0958: Let's see if NQ will BO above the range to 50% of current DR.. 1039: Good call, Db.. Not sure what you meant by @96, but if you entered at 1013 bar, that's very impressive! 1045: Time to leave. Adios to Db and all..

0912: My PM chart... 0913: NQ just broke below 50%PDR. 0923: Looks like NQ has been forming a small range from 0830.. 1029: NQ is forming a hinge now.. 1030: Will it test PDL? 1032: It stayed above the previous 50%ONR that Db had highlighted yesterday (post #1, Chart 4).. 1056: I was assuming that NQ wud stay in the 2nd channel.. 1059: Ok, NQ still stays in the down channel.. 1102: Interesting, NQ has closed the yesterday's gap up.. 1103: As Db mentioned, 50 seems the level to watch.. 1105: Will NQ do a BD? 1109: If the new day's low isn't breached, it could be TDTDB.. 1113: The down channel is still relevant.. 1124: Goodbye to the down channel.. 1127: If 47 holds, NQ is likely to retrace up.. 1130: Looks like NQ is testing the low again.. and it's time to leave. Adios Db and all.. 1900: I'm glad I could draw the ONR similar to Db's this time. Like Db, I had an upward bias in the opening minutes as I had an upward TC in my PM preparation. It was much later that I realised NQ is in a downtrend, and I used the opening minutes as the base for my TC. This time, I used the reference from Db's example: (Ref: Trading the SLA/AMT Intraday: Week of 2/23, Db's reply to Gamera's post #50: http://www.traderslaboratory.com/forums/wyckoff-forum/19140-trading-sla-amt-intraday-week-2-a-7.html#post196824) While my understanding of AMT is still hazy, I have improved on identifying the ONR and drawing of TC, all thanks to the examples provided by Db. Db has provided many good examples, and I'm glad he's posting them in TL instead of ET, where one has to go through needless posts to find the gems.

0905: G'morning to all, here is my PM chart.. 0924: If NQ stays above PDR 50%, it'll gap up at the open. 0931: That was fast.. NQ bounced off Db's ONH.. 0939: If NQ breaks ONH, will it be able to test PDH? 0942: Currently, it seems to be forming a double top.. 0945: ONH has been broken and PDH is next to be tested. 2027: After NO broke out of ONH, PDH, PD2H, I lost track of PA as I kept wondering why didn't Ianticipate the BO? Was disappointed with myself at that time. After reading Db's comment (1009h), I realised that I failed to consider the context properly. Though I drew those lines on my chart, I did not understand their significance with respect to context.

0904: My PM chart... (I copied the channel that I saw in fortydraws' thread) 0933: NQ has pierced through ONH.. but seems to have difficulty in staying above it. 0935: NQ likely to test PDH now.. 0943: Will NQ bounce down to 4449.25? 0946: Interesting.. NQ bounced off PD mid-range.. 1011: Is NQ forming a flag? 1012: As the flag was forming, I failed to notice that it was at ON mid-range.. 1013: Bye bye to the flag.. Haha.. 1017: Is it forming a hinge? (DB had mentioned that SLA is not applicable inside a range, but I tend to use it to help me gauge buying and selling pressures.) 1023: NQ is heading to test Open again.. just saw Db's comment about deleting all previous lines.. 1030: NQ seems to be trying to test the day's high.. 1334: I was counting sheep instead of observing my charts. Time to leave and bade adieu to Db and all. Have a good weekend ahead!

Sorry Db, but 1100 EST is actually midnight in my time zone. So I'm shooing jumping sheep off my charts after 1030 EST, although I join them sometimes.. In fact, I plan to stop observing NQ after 1030+ EST each day, and enjoy all the good commentaries and views in this thread (and fortydraws') after I wake up. I see. And it must be difficult to concentrate on stuff like this so late. But it is interesting, though not unexpected based on experience, to start out with over 30 people and end with only three Remember, though, that AMT applies to all auction markets, so consider pursuing something that trades over there. The contrast would be interesting. This is about the SLA/AMT, not the NQ per se. Sure Db, I'll keep that in mind. For now, it'll be good for me to keep track of NQ in order to learn from you and other practitioners of AMT who are using the SLA/AMT correctly. When I can integrate the principles effectively into my mindset and trading, will I apply to other markets as well. Btw, I cannot participate in the discussions today, so here's wishing you and all a good trading day ahead!

0905: My PM chart today.. A quibble. It's not what I say, it's what the market says. Haha.. Sure Db. I placed that comment there to remind myself of its importance.. 0927: NQ seems to be forming a hinge.. 0929: Just saw Schaefer's hinge.. interesting.. 0931: The BO of the hinge seems weak.. if It reaches 46 and bounces down, could it be TDTDB? 0933: Ok, ONL has been breached.. so selling pressure has exceeded buying pressure.. 0938: Looks like it was TDTDB over at 38 too.. saw Gamera's prediction at 0936.. gonna observe that.. 0945: Another hinge? The thin green bar reps what Gamera has mentioned earlier.. 0951: If NQ stays above PD 50% range in this RET, I would assume buying pressure is stronger.. 0953: Interesting, NQ bounces off the lower end of the hinge instead.. 0955: This shows my earlier assumptions were wrong and this is something I must change.. 0959: A range seems to be forming instead, not a hinge.. 1001: NQ has broken out of range and 50% ON range.. 1010: Gamera, thanks for the clarification.. looks like my PM/ON 50% range seems wrong.. (Db's post #36 mentioned about finding "the" range, not just any range.. hope I have internalised this today..) 1024: I have corrected my ONH and watching if DL holds.. 1029: 50% of ON range is holding.. 1049: The breached ONH seems to be support now. Time for me to leave now.. Adios Db, Gamera, Tim and all..

Sorry Db, can you elaborate on that? I don't quite understand.. That was the level at which we left the range. Ok thanks! Incidentally, don't feel alone if you find it difficult to turn off the SLA in ranges and switch it back on once price leaves the range. It's not an easy adjustment to make. Which is why I suggest avoiding trading ranges at all unless they're exceptionally wide. A 10pt range, for me, is just not worth fucking with, much less a 5. Db, appreciate this tip on selecting a suitable range! From your explanation, I can see that my understanding of AMT and SLA is still weak. Personally, I rely on SLA (assuming I'm applying it correctly) a lot (even inside the range) to try to observe trader behaviour better and it has helped me to spot potential hinges better.

0905: Here is my PM chart: 0945: NQ broke 50% of the opening DT, and is approaching the mean of PD range. 0949: Since NQ is above both 50% just now, my view is that buying pressure is stronger than selling pressure.. 0952: Looks like the Open is of importance too.. 0958: I thought there might be a hinge forming, but I was wrong. 1010: Wonder how would NQ respond at the orange? 1012: It bounced off ONL and 50% of PD range again. 1020: Wonder what price is going to do? 1022: Since NQ is approaching the Open.. went pass it.. buying pressure is exceeding selling pressure again.. 1044: As Gamera has mentioned, that 50% is holding as support.. 1101: Wonder if a hinge is forming? 1109: NQ has broken up and approaching ONH and PDH. How will it react to those pivots? 1116: An interesting observation.. based on what Gamera suggested yest and what Db had mentioned before, either in ET or TL.. 1140: Will PDH and ONH hold as support? 1156: Wonder if NQ would test the 50% PM range? Adios Db, Gamera and all, see you guys tomorrow..

0859: Sure Db, here is my PM chart 0911: There seems to be a hinge forming.. 0927: NQ has fallen back to the mean of ON range. 0933: NQ has bounced off QNL. Interesting. 0934: NQ seems to be unable to return to ON mean. 0941: Looks like NQ is heading towards PDH. 0945: After the first few minutes of the Open, the buying pressure has exceeded selling pressure. There is a current PB to 50% of the opening rally. 0950: NQ seems to be going to retest ONL again. Will it form a HL wrt ONL? 0955: It has formed HL but NQ seems to be forming a mini range between 35 and 39.. 1013: NQ seems to be testing ONL again.. 1015: If it breaks below ONL, would be intrested to see how it reacts to 30.25 level.. 1034: will be interesting to know how NQ will react at that level, if it reaches there.. 1101: Interesting to see how NQ stalls at the green box.. 1102: NQ has gone back to ON range. Will it test ONH? 1110: NQ seems to be forming a hinge.. 1120: Agreed with Gamera. Since PDH has not been tested, looks like NQ may approach that level.. 1127: Gamera, I've marked your extreme on my chart (48 - 49 zone), let's see how it will pan out. Time to for me to leave. Thanks Db, Gamera, Tim and all. 1823: Wow Gamera, you were right! NQ did hit your extreme before it closed..

Hi Db, can you explain why did you select these two ranges? I failed to see them (as reflected in my PM chart). Thanks in advance and have a great weekend! Price will trend regularly and predictably or thrash around with seemingly no pattern at all. But, eventually, often after the NY close, it will settle down and seek equilibrium. The first range represents this first effort, the limits being those beyond which traders won't go. These limits constrict in the second, as price gets ready to break away in one direction or the other. If the trader pays attention to what it does and how it does it, he can gain information on what traders have in mind. Here, price does what it typically does, trading 3pts away from the range on the upside and 3pts away on the downside. When trading to the downside, however, it forms a double bottom, which in a sense is a double rejection of that price level. Then price takes off to 25, and since we have our median, we can measure the most likely reaction to the downside, which is what the arrows point to. That price doesn't reach the projected downside before the open doesn't alter the equidistance of the projected level. That price keeps tracking back and forth across it for a half hour confirms its importance. That price whips back and forth across 00, 4pts one way then 4pt the other, confirms the importance of 00 as well. Then traders finally make up their minds and hold above 03. If one doesn't buy the breakout of this little range at 05, he can buy the test of it 20m later. Then, if he trusts AMT, he can just LITHA (Leave It The Hell Alone) and follow it to the upper limit of the weekly channel at 4450. If one is thinking about the money, of course, it is unlikely that he will do any of this. He will instead be focusing on his trade rather than AMT. This is something he'll just have to deal with in some way. But at the very least, he should consider any shorts to be off the table. Wow, I didn't expect such a detailed reply! Many thanks again Db, and really appreciate you sharing your insights..

0909: My pre-market outlook: 0938: Looks like NQ is going down to test 00. 0944: NQ is above the mean for now.. 1006: I guess if NQ breaks below 95, it's going to test 80. If it breaks above 05-ish, it will test PDH. 1042: Wow, that was one test indeed.. 1102: Gamera, I think NQ is forming a range instead.. 1105: If NQ stays above PDH, it should test ONH. If it breaks below 14, it could test 10.. 1109: On 1-min chart, it seems to be forming a hinge too, as Gamera has mentioned earlier.. 1127: NQ seems to forming a small descending triangle.. 1528: Gamera, I salute you! It's tough trying to track NQ closely, yet you have done it! Take care and have a good weekend ahead!

Hi Db, Sorry but a noob question: 1. When using Prior Day's Hi/Lo and ONH/OHL to identify a range, can we mix the levels like this in the attached chart (using Prior Day's Low and ONH)? 2. Or should we separate Prior Day's Hi/Lo and ONH/ONL? p/s: I copied the hinge from your earlier chart.. Whatever enables you to enter the trade properly. Ok thanks! Both ranges are useful. 11.29: Thanks for today's commentary, Db and all. I'll have to leave now..