gears

Thanks for your posts Db! It's reassuring for me when my identification of ranges and context matches up with yours. I'm sure you wonder how I don't always see the same thing, but it happens (shock and awe). Recently, I'm aligning more. Excellent, though I'm not always right. This is just what I see.

I'm not usually a fan of FOMC days because as Schaefer said, it's usually range-bound in the morning, dead at lunch and crazy at 2PM. Today wasn't much different, but even in that context, AMT is almost like magic. The idea of "amazing one's friends" is not that far off. Hell - it amazes me. But perhaps that's why I haven't "gotten" it yet - because I'm still amazed and not completely prepared for the options. Hmmm... Not that everyone can't see this too, but: -Price didn't bounce at 4341.75, but there was time to see if the level would hold - and it did. -Next stop the ever popular level of 4365.75. Price actually hesitated there, but not for long… -Then we head up to high from the 13th (4424) where price has now moved away from. Will there be another test? It's possible. This AMT business is just damned cool… <Back to your regularly scheduled programming.>

Db - the 3part chart you posted above shows the 60min timeframe with the 50% level in an area a bit different from mine (attached). Is that due to rollover? I'm not trying to be a jerk - just wondering about the difference in price points. Doesn't really matter. What is important is the springboard at 20. One could leave off prices entirely. Also, I'm wondering about the range action this morning and possibly some tells. Hindsight is awesome for confirming, but it's understanding live that makes one profitable (duh - I know). The initial push up was +4 and the push down was -3 as you indicated. To me, the first activity was just more range behavior, but by enlarging the range. Here's the question: is it the +4 and -3 that gives an inclination that up is the LOLR or is it those two pieces of information WITH the HL that follows that provides the road map? Or is it not until price hits around 4333 that one really knows? The +/- just illustrates the price discovery process, and it doesn't happen every day. But it's important to know what it is so that one doesn't get trapped in it. The HL is the tell, or at least the most important one. And by the time one "really knows", it's usually too late. Thanks for your time...

Here's an hourly chart where I've attempted to identify the waves of which you speak. Am I on track? Yes. And note how 00 complicates matters. One can try to enter a break below this level, but don't be surprised if it's not clean.

Here are my areas of interest for today.

Here are the levels I'll be focusing on today. The swings in the upper 20-30 range are noted only in case price breaks out of the hinge/recent price activity area and makes strides down. 60, 35 and the upper 40's seem to still be the stars for now! I'm really wanting to look at the larger timeframe areas of interest and with that in mind, I can't leave out 4458 - ON high. 1008 - teasing dog barked. or is that it - a RET would have triggered (from a tighter DL, but it didn't go anywhere? I'd say OS (over sold) in the 4466 area based on the 60min lines discussed in the last few days. It printed at ON resistance and ended just shy of another area of resistance. I hadn't thought of it as an "intent" bar, but did note how it sliced through the price level with definite purpose.

Here's how I'm framing the price action for today. Watching predominantly 4464, 4458 and 4452 to start things out. What I Learned Today: --It's not a new lesson, but when price is ranging, the extremes are the best entries and where all the fun seems to be. I wasn't trading/simming, but that's the name of the game. No matter how quickly price may move in another area (and you might be dying to get in on the action), waiting is the best advice one can take. --I did learn some patience today as the more I see AMT in conjunction with ranges and trader behavior repeat, confidence is gained. --Still haven't figured out hinges - what constitutes a test, what 'tells' might exist for where price will go next. My write up of the session is posted at ET: http://www.elitetrader.com/et/index.php?threads/switching-gears-to-price-action-via-sla.282101/page-32#post-4092609

Meaning that price soundly rejected 4445?

Areas I'm looking to for activity/indication of further movement. 1055 - How many times will it take price to get back to 53? Or will it be heading back to 45 for a bit?

What do you mean by "other averages"? ES, YM

They'll be back now!

My areas of interest for the day… 0942 - Saw for myself a very powerful AMT move and the power of LITHA (no I'm not trading/simming). Price hit 45 like a hot potato and made it down to 38. No question that traders weren't liking it down there and they popped back up - but they didn't make it to 45. Another trip down and not quite as low - perhaps forming a hinge or perhaps just hanging out at yesterday's 'home' area for a while. Either way, price will tell us.

Here are the levels I'm reviewing. Not sure for how long the overnight range will have an impact. That 1001 REV happened so fast - took me by surprise of the swiftness of the movement. 1021 - Hinge anyone? 1022 - Not anymore...

Not to split hairs, but I was seeing 43 as the upper range (from around 1945), not 44. Did you take the differential from the EOD high and the overnight high and combine them? It's not a huge difference - I was just wondering if I'm seeing something incorrectly. Thanks. Edit - hadn't seen timokrates question and Db's response. Thanks! see above

So are you saying that you want everyone to be posting like Gamera is - or start a journal here to chronicle our progress? Whatever helps you advance as a trader. Eventually people get tired of talking to themselves and move on. For me posting when watching is a little too distracting.

12:31 - ES made a pop up - perhaps the NQ will follow suit.

Back to 75/76. This range bit really is quite fascinating to me. Feels like blinders have been lifted.

How do you know who's "HERE"? ((Just saw the Currently Active Users Viewing This Thread bit)) I'm a moderator. I see everything. Plus one can smell the flop sweat.

So far today is definitely one requiring lots of patience.

I think the closest thing I see of fear showing it's hand in price movement (from my current abilities to read price) are rejections of a particular price barrier and activity immediately following a parabolic move. Now, if this isn't a manifestation of fear, I guess I'm off the mark. With those two circumstances, either buyers or sellers are in no-man's land. The current price level just isn't being agreed upon by the masses. Price is in an area where nobody wants to transact - and therefore fear shows up with a quick change of price direction. Let me unload so I don't get caught in a really bad spot. Am I off base on how you'd hoped this discussion might begin?