Schaefer

2:35pm: I believe, we're only able to attach 10 pictures in one posting. So, starting another post. Bar 10 did not go as originally planned, and ended as a bearish doji bar. It has however, created a higher high from Bar 9, just did not have the follow through. The mean of day's range appears to be around 64, and so far, price has been able to stay above it. As of right now, we're in a range between 60 and 77. 03:00pm: Bar 11 was a strong Bull trend bar. It had created a higher low, and strong bull body, meaning strong buying pressure. It has created a double top, and has a good chance of creating a higher high. 03:30pm: Bar 12was another strong Bull trend bar. It also created a higher low, and double topped with the upper range level. Took partial profits at 76, and will be holding the rest until close. 04:00pm: Bar 13 was another Bull trend bar with good buying pressure. I'm sure the daily swingers started to pile in for the swing long trades. So, now we're in another no man's land of all new highs. I closed the last portion at 81 to end the day. Summary: As usual, with the closing of the last 30 minute bar, the trading day is over. It was a relatively easy day, and another day of testament to AMT, thanks to DB, and Fortydraws. Once you have the road map of what the price could do, however vague it may be, it really helps with one's bearings, as to what to do, and what not to do. Followed the PoA today, the only mistake was jumping the gun into longs right after Bar 9, into Bar 10. It still worked out very well, but had to take some heat in the process. I need more patience. Schaefer

Good Morning all, Last week was great, and it was nice to see what other like minded traders were doing, and seeing the same market, I am trading. This week, I will be on sim mostly, as the construction work at my office building is still not done, yet. This week, my primary focus chart will be 30 minute chart, as I may need more time away from the screen. Long Term Analysis: The weekly, and daily hasn't changed much last week. We're still locked in a tight range, as traders are unsure of direction. Last Friday was an inside bar, and a bear trend bar. Short Term Analysis: The weekend, and over night price action seems to be locked in a 10 point range. However, price generally seems to be respecting the daily pivot level, but staying below the mean of the range. Plan of action for the day: Play the bounce of pre market range, and take one trade towards, either low or high of previous day. Then assess price to see, where it belongs in the overall range. Schaefer 10:00am: Followed plan of action (PoA) to the best of my abilities. Price bounced off of the mean, instead retesting the low, and took profit at the previous day high per the plan. Did not reenter to test the daily upper trend line. 10:30am: Bar 1 was a bullish, bull trend bar which broke through all the highs. Bar 2 the same; Higher high, and lower high. Bar 2 did not offer the right tick to short (pullback to the mean). However, Bar 3 is offering pullback at the moment, but will wait till the bar is complete to assess the highs, and lows. 11:00am: Bar 3 was a Bearish outside bar. Price continued upward from Bar 2, however, retraced all the way back down, and also taking out the low of Bar 2 to create a lower low. This is bearish, and I'll be looking closely to look for short back into the range. 11:39am: Bar 4 was an inside bull trend bar. Bars 2, 3, 4 essentially created a small range at the top. So back to basics; First, find a range, second, determine the location of price within the range, then play the range by buying low, and selling the high. 12:00pm: Bar 5 was a doji bar. It created a higher high, however, unable to close above the range. Still sitting on hands, I would like to see a lower high before looking for shorts, or a solid break out of the range before looking for longs. 12:30pm: Bar 6 was a strong Bear trend bar. It created a lower high, and lower low. I will now be looking for weakness in retracement to go short for a break down into the range. 01:00pm: Bar 7 was a doji bar. It created a lower high, and another lower low. Still bearish. 2:00pm: Bar 8 was a weak, Bear trend bar. It tried to go below 02/27 day high, but rejected immediately. It created a lower high, and lower low. Bar 9 was stong bull trend bar, which created a higher high, and higher low. I'm now bullish, and looking for longs. Schaefer Off topic: People who follow Al Brooks methods, which I also do; Today is a High 2 long signal bar for daily swingers.

My Sierra Charts went out a couple of times today, as well. Actually, the first outage cost me some money, as I didn't realize the chart was off line, and kept the position, instead of scratching the trade. Schaefer

There's major construction work going on at my office building, and I'm sure, it's going to be a late start for me, today. Long Term Analysis: The weekly/daily up trend is still intact. We're still in the range from 02/23. Yesterday was a strong bull trend bar, almost engulfing 02/25. The daily highs have been breached continuously, but there is very little follow through in the past 4 days. Short Term Analysis: Again, the pre market price action has been lackluster, and stayed within the upper half of previous day's range. However, the 10 point pre market range is well defined, and that, usually allows us play the opening range, then to one of the extremes of the previous day's high, or low. The Daily, Hourly, and 15 minute charts. 10:42am: Missed the opening session due to construction work here, but it appears to be exactly the same as yesterday's price action; bouncing up and down inside the high and low of the pre market. However, traders seemed to have found an agreeable area above the mean at the moment. 5 minute chart. 11:45am: Not much really happening here, which is norm for Fridays. Actually, we've been having late afternoon rallies on Fridays for the last few weeks. So we shall see. 5 minute chart. 12:40pm: Welp, still hanging around the mean like nobody's business. Lots of selling pressure, but price wouldn't go anywhere, so that means almost equal amount of buyers anad sellers. 5 minute chart. 2:25pm: Here's proof that the market is alive today. After meandering around the mean, more selling pressure ensued, and the buyers decided, it's not worth buying anymore at that level. The buyers attempted a feeble double bottom, but was met with lots more sellers. 5 minute chart. 3:36pm: The inaction of the buyers resulted in a minor sell off. Today's range is still within yesterday's range, essentially creating an inside bar. The buyers were interested ata 36 level, but is being tested to the downside, as I type. 15 minute chart. 4:00pm: And as usual, with the closing of the last 15 minute bar, the trading day is over. There were some buying interest around 36 level, and sellers agreed. I will add this level for me to watch for Monday. 15 minute chart. Summary: A slow grinding, choppy and range bound day. Learned and witnessed first hand, the importance of using larger interval bars, and looking more to the left on choppy, and range bound days. Have a nice weekend everyone. Schaefer

Good Morning, everyone. The econ reports did not influence the market too much this morning. Long Term Analysis: Weekly, and daily trend is still up, and intact. Price began to waiver around the upper trend channel line, yesterday, but failed to take out the low of 02/24. So, we have a small range going on from 02/23 thru yesterday. Daily & Hourly. Medium Term Analysis: The overnight price action was lackluster at best, and econ reports did not do much to influence the market. Price range is still in the middle/mean of yesterday's range. All the levels of interests have been marked. 15 minute chart. 9:52am: Text book open, bounce from low of pre market to high of pre market, then range at the mean. Took one trade from bounce of low to high. 10:45am: The market is still trapped in the pre market high, and low. However, the range is wide enough to trade. The 15 minute chart has been orderly, except for that climatic sell off on bar 2. 15 minute chart. This one is for DB, about the low reversal today. I saw the volume climax, and the subsequent range/hinge convinced me to go long. However, when price bounced around the mean a couple of times, I exited like a little bitch, then watched the price go all the way back up the high. 11:50am: Bull flag on 15 minute chart. However, I would not go long, as being so close to previous day high, and daily upper trend channel line. 12:30pm: Bull flag failed, as expected, and sold off all the way to the mean of the day, and retraced all the way back to where it started. No trades were taken. 12:45pm: The intent of the buyers seems pretty clear. Price is back to where it was 3 bars ago. A lot of buyers stepped in around the mean of the day. This might be the break out to the upside move. Switching to the short time frame chart. 12:51pm: Breached the previous day high, and touched the daily upper trend line. Lots of sellers coming in as expected. Looking to see, if they would succeed. 1:11pm: Sellers unable to bring the price back down. In and long at 59, stop at 57.75. 1:16pm: No follow through, out -6 ticks. 2:23pm: Back from lunch. Buyers had no interest going above the high of day. Price dropped almost all the way back to the mean, again, and retracing back to the upper half, as I type this. 2:30pm: No follow through, as expected, and now, double bottom with the low of 12:15 bar, which incidentally, happens to be the mean of the day. 2:38pm: Dissecting the double bottom failure with tick chart. 3:15pm: Price bouncing off the mean of pre market; this has been the norm lately. 3:31pm: Fast approaching the high of day, which coincides with previous day high, and daily trend line. Maybe double top? 4:00pm: Double topped, then breached all the highs. It was a weak push, and quickly retraced below the daily trend line, and the previous day high. But the intent has been shown. And with closing of the last 15 minute bar, the trading day is over. Price prettymuch traversed through the range from yesterday, and ended the day with a bull trend bar, with good volume. This could be the precursor for breaking out of the weekly/daily channel for another round of bull run. 15 minute chart. Schaefer

Hi DB, just a couple questions. The rejection from the high of the day; I was expecting it, but was not expecting it to go all the way to the low, and create a new low. Did you have any indications, that price might do that, or was it a LITHA trade? LITHA. Second, how do I attach the charts in my post to show up with my posts, instead of attachments at the bottom? When you upload them, they'll show up in a list below your post. Right-click the link and select "copy link address". Then place your cursor where you want the image in your post, click the Image icon above the frame (the one that looks like a postcard), paste the link address into the locator window and click Okay. It will then show up in your post where you had your cursor. Just make sure you don't have two http addresses in the window when you click Okay Thank you for the guidance, today. Schaefer Edit: Got it, thank you.

Trade Date: 02/25/2015 Long Term Analysis: The weekly uptrend is still intact, and hovering at the top of the trend channel line. They daily uptrend is still intact, and identical to weekly, however, yesterday was an outside doji bar, and the day before was a small pause bar. The econ news of today, and tomorrow could bring the price out of that range. Either way, I'd be cautious about taking swing trades, until price has cleared the range of the doji bar from yesterday. Medium Term Analysis: Pre market has been within yesterday's RTH range, and forming a triangle in a narrow pre market range. Usually, when we have a narrow, and established pre market range, price tends to bounce off of lows or highs of the opening range, and tests the limits of the previous day's high, and low. 10:40am: There's a major construction work going on at my office building, and I could not concentrate on anything So far, price has been stuck in the pre market range. 11:40am: Inching closer to previous high of day. A slow grind up like this is best observed through a 60 minute chart. 11:50am: Testing the previous day high, now. DB time for you to wake up. 12:55pm: Break out??? Not sure, but looking for the right tick. 2:13pm: A weak break out, but quickly struck down by the weekly/daily upper trend channel line. 2:35pm: Price rejected from the daily trend line, and now testing the 50% level for today's range. 2:37pm: Breached the 50% level of the day, and now testing the mean of pre market. 2:46pm: All hell broke lose after breaching the 50% level, and created a new low for the day. 4:00pm: The rejection from above the previous day's high, and the daily upper trend line channel was expected, but did not expect the price to retrace all the way to the low of the day and beyond. Today's was a another fine example of LITHA trade, which I failed to capitalize on. Tomorrow, we have a bunch of econ reports, so I'm expecting some movement in price. Even though, price has been rejected off the upper trend channel line, the bounce was weak, and it did not manage to breach the previous day's low. So, I'm not expecting the price to revert to the mean of the channel, yet. Schaefer

Amazing, we had the same exact trade. I got in at 34.25, and got out at rejection from the pre-market low. Schaefer

A very small pause bar for yesterday. The weekly uptrend is still intact. I expect the market to be confused, as we're at the all time highs, and right at the weekly upper trend channel line. Here are my 15 minute pre-market levels, and daily. 10:00am: Chart 3: 30 minutes after the opening. Three trades: 1) Short from break down from pre-market low. 2) Bounce from previous day low. 3) rejection from pre-market low. 10:00am: Chart 4: Updated: Price testing previous day low. I got out at 31. 10:30am: Strong rejection from the previous day low. Unfortunately, I missed the trade due to some distractions in my office. Testing the mean of pre-market. 11:15am: Price tested the mean of pre-market, and took off to breach the previous day high. This would have been a perfect, "leave it the hell alone" (LITHA) trade, and something I will be trying to do from now on. 12:00pm: Rejection from the previous day high. 1:00pm: Price pierced the 50% mark of the day, and now above it. Not sure, where it'll go from here, so I'll sit tight on my hands, until it reaches one of the extremes. I did catch the drop from the rejection of the day's high, and that was a good run. 1:44pm: According to the hourly chart, we may retest the high of the day. 2:00pm: Price retesting previous day high. Looking for the "right tick" here. DB would not approve of this channel, as we're still in a big range. The range is big enough for me. 3:00pm: That previous day high was a bitch, and I got chewed up looking for that "right tick". Good news is, I found out, that the price didn't want to say below the level. So, I'm pretty confident, that it will at the very least retest the high of day, or may be even up to the upper trend channel line. In and long at 49. 3:30pm: Took profit before the double top. In the mean time, the 60 minute chart looks very orderly. 4:00pm: And with the double top, the trading day is over. All the trades followed the plan, except for the trades during the 1:45pm thru 2:15pm. The range around the previous day high took a chunk out of my profits for the day. Schaefer

And with the closing of the last 15 minute candle, the trading day is over. Price broke through the previous day high, however, I did not know in advance, that the price would do that, so I had my profit target at 44, and that's where I got out for the range play. I may be wrong, but I always assume, that the price would bounce in a range, until it actually breaks through the levels with authority. Schaefer

And yet again, price pierced the pre-market low, and bounced all the way back up, to the pre-market high. So, all one has to do is watch how price behaves around the pre-determined levels, then look for the "right tick", as DB would put it, and take the trade. Well, in my case, that would be, "right candle stick", as I use lower time frame candle sticks to initiate the trades. Schaefer

Price touched the previous day high, and bounced back to the pre-market low. It was good for a scalp, but the key is to take your profits quickly at the pre-determined levels, and not get greedy. Price bounced back up from the pre-market low, and testing the mean, as I type. Schaefer

15 minute chart. Price approaching previous day high, and right above that is the daily upper trend channel line. Hopefully, we'll see some movement. Schaefer

So, this is where you guys are hanging out. Sorry, did not make it here, before 9:15 to post the charts. The drama on ET was just too good to pass up..lol Schaefer