Calculating Intraday Turning Points

[jpflores 10]

I have been reading this forum since Feb of this year and have really learned and enjoyed it a lot. I hope to get to where most of you knowledgeable traders/technicians are now one of these years. I daytrade the emini S&P and Russell. Anyway, I have been searching for a way to calculate/forecast the next day intraday major turning points. I have searched this forum and web extensively with no luck. :crap: Can anyone point me in the right direction? Thanks, jpflores

[brownsfan019 17]

You just need the current and future day's turning points?

 

Is that all?

[BlowFish 10]

I have been reading this forum since Feb of this year and have really learned and enjoyed it a lot. I hope to get to where most of you knowledgeable traders/technicians are now one of these years. I daytrade the emini S&P and Russell. Anyway, I have been searching for a way to calculate/forecast the next day intraday major turning points. I have searched this forum and web extensively with no luck. :crap: Can anyone point me in the right direction? Thanks, jpflores

 

Try looking at any of the price action / support resistance threads also the 'busy day tomorrow thread' in the Forex section. Also take a look at DBpheonixs blog he did a couple of weeks marking up S/R for the NQ.

 

You maybe be better thinking of places where you 'anticipate price might find S/R' rather than 'forecasting turning points'. Thats not to say that you can not find success predicting but it is a tougher path to go down, not least for the psychological pressure of dealing with being 'wrong' a lot of the time.

 

Have you thought of anticipating S/R then monitoring price action to ask yourself is that holding now (in the present)? It is possible to do very well without needing to predict.

[smwinc 20]

You just need the current and future day's turning points?

 

Is that all?

 

Oh, come on Brownsfan, don't be unfair.

 

I'd like this week's and next weeks please.

 

:rofl:

[brownsfan019 17]

Oh, come on Brownsfan, don't be unfair.

 

I'd like this week's and next weeks please.

 

:rofl:

 

no prob - why didn't you guys just ask.

[brownsfan019 17]

Check out this post for a response I gave w/ a similar situation.

[trader273 10]

What are you guys talking about? This is really easy to do. All you need to do is get a Delorean, Flux-Capacitor, MR. Fusion and you are good to go. I actually saw a documentary, I think it was a 3 part series, and this guy, Dr. Brown along with his teenage sidekick accomplished this feat. Not sure if they have a trading website, but you can check it out. I know I have!

 

Here they are in action:

[daedalus 10]

Try drawing session grids for fibonnaci retracements and extensions. They are just reliable as anything else at predicting potential turning points.

[sneo 10]

What are you guys talking about? This is really easy to do. All you need to do is get a Delorean, Flux-Capacitor, MR. Fusion and you are good to go. I actually saw a documentary, I think it was a 3 part series, and this guy, Dr. Brown along with his teenage sidekick accomplished this feat. Not sure if they have a trading website, but you can check it out. I know I have!

 

Here they are in action:

 

side track: ah, i saw that documentary too. I think the documentary show that a locomotive would do just fine if Deloreans were out of stock. ;P

 

on track: perhaps you could try looking at the various methods of Pivot levels

[jpflores44 10]

Thanks guys!! LOL!! I guess I deserve that (with crystal ball in hand). I do use fibs and other calcs but wanted to see if anyone had other thoughts.

 

I'll check into that Blowfish.

 

BTW Brownsfan, I am a big Brownies fan also!

 

I'll keep reading!! :hmmmm:

[daedalus 10]

maybe try using a value chart on a larger timeframe filter chart 2-3'xs bigger than your trade chart?

[ammo 10]

i have a rule where i don't trade between 11 and 1,cst,i have a note taped to my monitor that say's "what time is it *******" to remind when i get faked out during this time period,there are about 3 days a month where it will trend in one direction all day,that is the exception to the rule on the time of day posted. I also watch for 1:30 when the oil closes and 1:50 it usually starts to make a move for the last hours trading. There is a soft rule among some of the larger houses that they don't trade the first hour,so at 9:30 the market will generally see an influx of orders

[brownsfan019 17]

This is how i do it. Look at aug 20 chart (sp500 cash ). The intraday low (1261) arrives around 10am which is 3 hours from prev days low. 3 is a fib number and 1261 is near term support (elliott wave). Next, the intraday high (1276) arrives one hour later and thats also 8 hours from prev day high. 1 & 8 are fib numbers.1276 is almost 10 points from prev close, (rule of 10,well,my version) Next, from 1276 to 1264 around 2.20pm is 3 hours.3 is a fib number.Next, 1264 long (rule of 10) gives 1274 target which was hit-intraday close 1274.5.

I dont scalp.i go for the swings but if i did, i would experiment with counting bars 1 2 3 5 8 13 21.. etc on smaller time frames.

Anyway, there you go, happy hunting!

 

And this post proves that there are many ways to trade.

 

[ammo 10]

another clue was 46 spu points down on 2 days and a consolidation day in the mid week,the uvol /dvol was changing places all day as to which one was dominating,first clue as that down trend had stopped,2nd was it wouldnt be a continuation or reversal with indecision about uvol/dvol,that sets up for an inside day which usuall sets its hi/lo in 1st 90 minutes,then you sel hi's and buy low's with a stop above or below hi/lo of day,these inside days if you can spot them are free money,you close your positions at the nip on the mrkt profile

[sevensa 10]

another clue was 46 spu points down on 2 days and a consolidation day in the mid week,the uvol /dvol was changing places all day as to which one was dominating,first clue as that down trend had stopped,2nd was it wouldnt be a continuation or reversal with indecision about uvol/dvol,that sets up for an inside day which usuall sets its hi/lo in 1st 90 minutes,then you sel hi's and buy low's with a stop above or below hi/lo of day,these inside days if you can spot them are free money,you close your positions at the nip on the mrkt profile

 

I know this is not a literacy site and I am sure your posts are very insighful, but without capitalization and punctuation, they are barely legible and hard to read for me. Would you mind to try and form regular sentences in your posts? Without that, I am afraid that much of your wisdom is getting lost between the lines...

[ammo 10]

svensa, i've heard this before and am working on it, thanks for reminding me

[Guest forsearch]

I know this is not a literacy site and I am sure your posts are very insighful, but without capitalization and punctuation, they are barely legible and hard to read for me. Would you mind to try and form regular sentences in your posts? Without that, I am afraid that much of your wisdom is getting lost between the lines...

 

It's better than someone using ALL CAPS AND SHOUTING AT YOU. Ammo's style actually forces me to fully read and attempt to comprehend his thought process, so I don't mind. Not to mention the salacious factor of his terminology (boob, nips, cleavage) :o

[ckait 10]

Do you have market profile or volume profile? Usually areas of high volume or long amounts of time spent in a area will offer support or resistance when visiting them again for the first time. Very often the major reversal points for the day happen at these areas.

[ammo 10]

yesterday at noon cst,we had a bottom half of a boob and u knew we would have to draw in the top by the end of the day. The spu's were trading 1270,71 at the time. We also had a trendline on a weekly coming in at 1281. So u knew where to unload or reverse. Intraday turning points to me don't appear that often,not in an obvious way at least

[neustaju 10]

Hey Ammo, to get an idea about the accuracy of turning or "pivot" points, check out the video available at http://www.techniquetradingsolutions.com

click on "market update for August 28th". The SUN and POT trade setups allowed daytraders to get a 4 dollar move due to the accuracy of the turning points. They offer classes in order to teach you how to calculate these turning points.

[brownsfan019 17]

Hey Ammo, to get an idea about the accuracy of turning or "pivot" points, check out the video available at http://www.blahblahblah.com

click on "market update for August 28th". The SUN and POT trade setups allowed daytraders to get a 4 dollar move due to the accuracy of the turning points. They offer classes in order to teach you how to calculate these turning points.

 

nice - can't view anything unless you submit your info. Nice site.