The Anatomy of a Reversal & Today's Closing Sentiment

[UrmaBlume 10]

At almost exactly 4 hours into today's session and after a significan move straight up the market reversed itself.

 

The first chart below is a daily chart with the nite session's trade in read overlaid by the day session in blue. Followers of price action can see that from the high price came almost all the way back to the open near the low - a key reversal.

 

At 1031 PST, at the high, the second chart down, in the middle sub-graph shows a buying exhaustion threshold and that the indicator passed the threshold and indicated an exhaustion in the buying. The bottome sub-graph shows our calculation of net new commercial trade and you can see that during the last 2 hours of the session NNT went from a positive 64,000 contracts to a negative number.

 

In the third chart down and also at exactly 1031 PST you can see a spike in the intensity of commercial selling which compliments the indication of a top as indicated by the exhaustion described above.

 

The fourth chart down shows the closing sentiment of the market on the HUD

 

 

Day & Nite Session Dailys Reflect Price Reversal

 

 

Buying Exhaustion and negative commercial trade

 

 

Spike in the Intensity of Commercial Selling

 

 

Market Heads Up Display (HUD)

 

 

cheers

 

UrmaBlume

[Attila 10]

Soooo... of what use is all that?

[UrmaBlume 10]

At almost exactly 4 hours into today's session and after a significan move straight up the market reversed itself.

 

The first chart below is a daily chart with the nite session's trade in read overlaid by the day session in blue. Followers of price action can see that from the high price came almost all the way back to the open near the low - a key reversal.

 

At 1031 PST, at the high, the second chart down, in the middle sub-graph shows a buying exhaustion threshold and that the indicator passed the threshold and indicated an exhaustion in the buying. The bottome sub-graph shows our calculation of net new commercial trade and you can see that during the last 2 hours of the session NNT went from a positive 64,000 contracts to a negative number.

 

In the third chart down and also at exactly 1031 PST you can see a spike in the intensity of commercial selling which compliments the indication of a top as indicated by the exhaustion described above.

 

The fourth chart down shows the closing sentiment of the market on the HUD

 

 

Day & Nite Session Dailys Reflect Price Reversal

 

 

Buying Exhaustion and negative commercial trade

 

 

Spike in the Intensity of Commercial Selling

 

 

Market Heads Up Display (HUD)

 

 

cheers

 

UrmaBlume

 

Soooo... of what use is all that?

 

It demonstrates different methods for determining the formation of local and/or session extremes from the presence of buying or selling exhaustion and inntense opposing commercial activity.

 

The HUD displays the degree to which the commercial spec traders are present in the market and their degree and direction of bias. This is time of day normalized data.

 

The HUD also reflects the amount in contracts and the percentage of buying and selling within the most recent blocks of trade.

 

Also present are 2 pie charts reflecting the percentage of buy bias, sell bias and caution bias in the ES and the ES & NQ combined.

 

Precise Buy, Sell, Scalp and Stop or No Trade prices are given for 7 intra-session time/volume frames.

 

All of this information including prices is updated on a tick by tick basis.

 

For price action only traders it is not worth much at all. For those who trade from order flow or the balance of trade this information might be of value.

 

cheers

 

UrmaBlume

[Attila 10]

Aaaah... I was trying to elicit an answer from you such as.. "I will be shorting all day today"!!.. but you gave the answer one that has been in the market would/should know.. All analysis is merely "helpful" and nothing else... Sorry... battle scarred lately.. in a battle with myself.

 

Interesting though.. so much data out there. Ultmately you place a trade and get kicked out and money flows out of or into your account.

[UrmaBlume 10]

Aaaah... I was trying to elicit an answer from you such as.. "I will be shorting all day today"!!.. but you gave the answer one that has been in the market would/should know.. All analysis is merely "helpful" and nothing else... Sorry... battle scarred lately.. in a battle with myself.

 

Interesting though.. so much data out there. Ultmately you place a trade and get kicked out and money flows out of or into your account.

 

The HUD was designed to support trade in time frames much shorter than "I will be shorting all day" and includes very specific entry, scalp and stop prices for each of 7 intra session time frames - the longest of which is roughly equivalent to 5 minute bars.

 

cheers

 

UB

[SIUYA 11]

"For price action only traders it is not worth much at all." - UB

 

I think this says it all. If you are a price action trader then UB does something different.

[Attila 10]

Soooo... I took your research to heart and shorted the open... You owe me.. <gggg>... More than most of my account, these indexes have relieved me of any belief in anything.. Any amount of data can simply be ignored the next day.. like Today.. There are people that move these markets and their lives are quite easy in the slow Summer trading.. Me thinks they intentionally create bottoming or topping candles JUST to negate them the next day. The scalper is king!

 

That'll be $13,599...

[UrmaBlume 10]

Soooo... I took your research to heart and shorted the open... You owe me.. <gggg>... More than most of my account, these indexes have relieved me of any belief in anything.. Any amount of data can simply be ignored the next day.. like Today.. There are people that move these markets and their lives are quite easy in the slow Summer trading.. Me thinks they intentionally create bottoming or topping candles JUST to negate them the next day. The scalper is king!

 

That'll be $13,599...

 

You took a view from yesterday that was posted at a delay and only for the next 5 minutes at the most and traded it a day later?

[Attila 10]

Yes I am in need of trading tips, signals, gurus, zodiac signs.. anything.. even a Psychologist

 

http://www.traderslaboratory.com/forums/103/race-7826-64.html

[UrmaBlume 10]

Yes I am in need of trading tips, signals, gurus, zodiac signs.. anything.. even a Psychologist

 

http://www.traderslaboratory.com/forums/103/race-7826-64.html

 

Hang in there and never lose your sense of humor.

 

Good Luck.

 

cheers

 

UB