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I see how you can say that because you see no transition from one bar to the next with hilo bars. But to me, I think that adding the open or close actually interrupts the flow. Who cares, on a 3000V bar, where the open and close is? I've explained my reasons for this in the "close of a bar is meaningless" thread so I won't repeat any of it here, but suffice it to say that marking where the last price traded every 3000 contracts traded does not give me useful information. I just need to see the extremes that printed, and with a small enough time frame like this I see the market flow, and adding the close and/or open only adds little "tick" marks to distract me! :)

 

I see form & structure in the bars as well as they tell me when a move is imminent... I initiate positions off what I read in the bars... OHLC help me see it...

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I see form & structure in the bars as well as they tell me when a move is imminent... I initiate positions off what I read in the bars... OHLC help me see it...

 

Most people do prefer them... to each his own my friend!

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Looks like the first trade of the day is gone : long..off the 1408 area ..

 

Probably going to stay range bound, IMHO in front of FOMC 1p cst...

 

I am going to be looking for tests of VPOC above and GBX low...should be ok for short rotations but ACH... 3 - 4 pts swings... ACH..

 

I am going to try to trade off extremes = outside in... Of course clueless.. I am also going to lighten my typical package to 2/3 and go for short target scales... This might be a envelope kind of day..

 

Just my 2cts -

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Took Short 1412.75 tatged 1410.75..ticked it...no fill :crap: dumped trasde second target was 1409.75 ish yest IBH... GRRR.. Flat ... :helloooo:

 

Edit.. I botched this trade took pennies when I should still be short first target would have gotten filled if more patient... for +2.00

 

Edit2: It ticked my second target 1409.75 would have not gotten filled there... :angry:

 

Either way I did mess this trade up... very annoying..

 

I guess there is some value in the thinking: Here's why I took short:

 

1. Yesterdays close shoed selling in front of FOMC... (NO Testes)

2. CHVN 1413.25

3. 15m bars from GBX had Flag projecting 1413.00 area...

4. Might get more Initial selling FOMC

5. Clueless...:confused:

Edited by roztom

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open well inside yesterday's range and balance, 75% relative volume, no directional conviction, FOMC minutes at 2pm ... good morning to watch unless something really jumps out at you IMO

 

That being said, the little grind at the open, followed by positive reaction since news looks to me like the market is trying to go north. Doing a decent, not great, job so far.

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I thought we'd get a bit lower 1408.75 IBH & single & MicroLVN 1408.75.. which is why I targeded 1409.75...

 

I think this is an Envelope kind of day - not something I really do but currently I might be done for day unless something jumps out...

 

If you are a envelope kind of trader this might be an ideal day to play that.. I already took a swing... but this is aligning with my envelope...3-4pt swings possible ...but that is not typically what I do but this seems like an ideal day for it...

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L 1409. 50 off IBH targeting 11.50 , 13.50

 

Edit: took first scale T2 now 1413.00 possibly 12.75

 

stop B/E...

 

Ticked 13.00 took 12.50... that is all I know.. flat..

Edited by roztom

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L 1409. 50 off IBH targeting 11.50 , 13.50

 

Edit: took first scale T2 now 1413.00 possibly 12.75

 

stop B/E...

 

Ticked 13.00 took 12.50... that is all I know.. flat..

 

Nice Tom, I also bought 10 and scaled 1/2 at 11.25, the other half at 12.50 -- it was up pretty fast after I took it so I didn't bother with posting -- but so far it's a great range trading environment. I usually do better here than in trending, but I have only taken that one so far.

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Nice Tom, I also bought 10 and scaled 1/2 at 11.25, the other half at 12.50 -- it was up pretty fast after I took it so I didn't bother with posting -- but so far it's a great range trading environment. I usually do better here than in trending, but I have only taken that one so far.

 

Talk of qe3 and further accomodation despite recent positive economic growth on the wires... could see strong movement up into and after FOMC, IMO.

 

Yes..my stuff has me off shorts for now... so twiddling my thumbs... I do think we are going to rotate around but the current bias is up at least until NVPOC or CLVN up there... :2c:

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I have bought 12.75, and looking for 14 and 17 ...

 

You never know what will happen today, this market is already bullish, talk of easing and accommodation could send this market to 1440, next major spx resistance.

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Yest IBH was "the" spot.. for longs..with these short targets ACH.. I'd just rather bank higher probability trades on a day like this...

 

If we rotate down for some stops before we hit some extended targets then I might take a long position but I will be long gone before we head into lunch .. :2c:

 

I will take long only if we still have something up above but that ship might have sailed already...

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I have bought 12.75, and looking for 14 and 17 ...

 

got 3 ticks on 1/2, and now a free trade, will bail at 12... I don't expect a profit here, just in case it wants to go, I'll be with it.

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I have bought 12.75, and looking for 14 and 17 ...

 

You never know what will happen today, this market is already bullish, talk of easing and accommodation could send this market to 1440, next major spx resistance.

 

Speaking of easing and accomodation, I wish this market would accomodate and ease up on me... :) I keep on getting hit on the blind-side so many times, I get scared to look sometimes...

 

So who's got the over/under for after the FOMC meeting? I could probably use that number... :)

 

CYP

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WTF: Stepped in front of that...missed my stop by 1 tick... not sure out of the woods here... still targeting rotation up hopefully will get scales ..if makes new low than DOA

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I want to buy here, but I am not encouraged but the lack of green so far... it seems a good time to ramp up strongly, and I think the green will come soon here, but I'd like to see it a bit earlier, when the low was made.

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Speaking of easing and accomodation, I wish this market would accomodate and ease up on me... :) I keep on getting hit on the blind-side so many times, I get scared to look sometimes...

 

So who's got the over/under for after the FOMC meeting? I could probably use that number... :)

 

CYP

 

lol CYP, I feel that way too sometimes.

 

GS is calling for further easing this quarter. I suspect that if the fed is positive on the economic outlook, thus mitigating the need for further easing at this time, that the market will react in a bearish way, despite a stronger overall economy. Just what my logic says, would be interesting to hear contrary opinions.

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