Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

TheNegotiator

Day Trading the E-mini Futures

By TheNegotiator, in E-mini Futures

Recommended Posts

TheNegotiator    13

TheNegotiator
Posted

Bear in mind that it's going to be lunchtime soon and my guess is that some traders will either do something else or go home early given how slow the trading is currently. Doesn't mean that there won't be chances later on though when they've left ;)

Share this post

Link to post
Share on other sites

TheNegotiator    13

TheNegotiator
Posted

Yeah it could pull back with people squaring up before they go to lunch/go home and still trade higher. Watch activity. Watch Volume POC and IB low. I think the low is still quite poor though. 7.50 points even with this movement is low for the day so I'd certainly expect either a break of the high or low. This time yesterday, range was 6.75 and finished 9.50.

Share this post

Link to post
Share on other sites

joshdance    10

joshdance
Posted

From the big gap up from last week to this week, the market has now tested last week's high, and found little interest in selling into that range. Do you think that may indicate a longer term conviction to the upside (by "longer term" I mean the next week or two)? This is obvious stuff I know, but I'm trying to be a bit methodical about this. Obviously we would need to trade up into yesterday's range first to really get serious about that. And if we don't right now, perhaps a further test of 63/64 will be needed.

Share this post

Link to post
Share on other sites

TheNegotiator    13

TheNegotiator
Posted

Possibly. I did mention targetting 1300 in my first post today, but also I'd caution thinking about that yet. It could do 1262.75-1272.75 today 1269.50-1259.50 tomorrow then anyone's guess for Friday. I think for the us to get excited about 1300's, we need to get into yeterday's range, build, test 83.50(prior major swing high) then show strength above. So there's still a fair bit to be done and with NFP due so soon people won't want to commit(that is unless someone gets the nod beforehand).

 

Edit:1277 is a nice short term res level too from yesterday which would need to be taken out first.

Share this post

Link to post
Share on other sites

TheNegotiator    13

TheNegotiator
Posted
69.50? Why not 70.25?

 

69.50 is low volume on the long term profile. That's the real level even if the low yesterday didn't quite get there. Not all levels are hit to the tick every single time I'm afraid! Depends on competition for the area and how much traders are willing to give up to get a fill. 70.25 high was just checking that low.

Share this post

Link to post
Share on other sites

joshdance    10

joshdance
Posted

IB high keeps holding, if it breaks down, and peeks back up close to 71, I will look to short this if I see what I want to see in the volume. Only 7 tick range extension up; not convincing and as you said, good potential for a neutral day. If that's the case, perhaps a move back to at least the mid 60s will be in order.

Share this post

Link to post
Share on other sites

TheNegotiator    13

TheNegotiator
Posted
IB high keeps holding, if it breaks down, and peeks back up close to 71, I will look to short this if I see what I want to see in the volume. Only 7 tick range extension up; not convincing and as you said, good potential for a neutral day. If that's the case, perhaps a move back to at least the mid 60s will be in order.

 

Yeah quite possibly. Although don't force it either. Potential on these kind of days is for the market to catch a few people out before moving in direction originally traded for.

 

What is the impact of this information for you, or is this more of just a casual note?

 

Just that volume is pretty low. Supportive information clearly showing no conviction.

Share this post

Link to post
Share on other sites

sdoma    10

sdoma
Posted
Just that volume is pretty low. Supportive information clearly showing no conviction.

 

Low-volume days often exhibit steadily upwards, grinding action. Think about it, that happened all last year; steadily grinding bullish action on no volume. Machines have changed some of the rules.

Share this post

Link to post
Share on other sites

joshdance    10

joshdance
Posted
Btw, apart from being 1 tick short off yesterday's close, did anyone notice anything else about the 1272's?

 

Actually 72 is yesterday's close (settlement) .. I did not notice anything else, what's up?

Share this post

Link to post
Share on other sites

TheNegotiator    13

TheNegotiator
Posted
Low-volume days often exhibit steadily upwards, grinding action. Think about it, that happened all last year; steadily grinding bullish action on no volume. Machines have changed some of the rules.

 

Yeah maybe. I don't think it's a universal truth though. Depends why it's low volume, who's already got what etc.

Share this post

Link to post
Share on other sites

joshdance    10

joshdance
Posted
127.2 IB on the flipside!

 

Quelle surprise!

 

I mentioned it several times in another forum does that count? :-)

 

Actually yes I did notice that N, 7 ticks above IBH, compared with 6 ticks below IBL. That was the premise for my short idea, which I am not in btw.

Share this post

Link to post
Share on other sites

sdoma    10

sdoma
Posted
Yeah maybe. I don't think it's a universal truth though. Depends why it's low volume, who's already got what etc.

 

I'm not saying anyone's trade will be wrong, just not to automatically assume that low volume means a lack of conviction. I don't look at it as conviction anymore, sharp moves are more driven by need and reaction than conviction.

Share this post

Link to post
Share on other sites

joshdance    10

joshdance
Posted
I'm not saying anyone's trade will be wrong, just not to automatically assume that low volume means a lack of conviction. I don't look at it as conviction anymore, sharp moves are more driven by need and reaction than conviction.

 

If we look at volume for what it objectively is, participation, I think it removes the need to assign motive (need, conviction, etc.). There may be little participation in a move up, but unless the other side actively participates more, it can continue to drift up or down, for example.

Share this post

Link to post
Share on other sites

TheNegotiator    13

TheNegotiator
Posted

The markets are more than just current price though. They are a sum of current holdings plus perception of value plus motivation to trade. I wouldn't say a market shouldn't move up on low volume, but somewhere down the line, it could perhaps more easily topple and retrace the move. Either way, today we are currently higher but still not at yesterday's highs. Might we get there? Maybe. But the chances are pretty decent that it could close back in the IB.

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
Go To Topic Listing

  • Similar Content

    • Quantower
      Trading with Power Trades tool on ES and NQ futures
      By Quantower
      The main goal of this thread is to show what Power Trades is and how it works in different markets. We will show some patterns on the ES and NQ futures, as well as discuss possible improvements to this functionality.
      What is Power Trades?
      Ok, first we will consider what the Power Trades is and how it finds zones.
      Power Trades shows the zones with the execution of a large number of orders in a very short time, which will affect the price change with a high probability.
      Here are a few examples of how it looks like


      How it finds zones?
      There is a continuous process of placing, changing and executing orders in the market. All this affects the price change and the expectations of traders regarding the future price.
      When a large order appears at a certain level, the price is more likely to come to this order and it will be executed because the market is always looking for levels with liquidity. This already applies to the order flow and the mechanics of orders matching, so we will omit the principles on which the orders are matched.
      It is only important to understand that "abnormal events" occur in the market at certain times. Execution of a significant volume of orders in a very short time is one of such events.
      The Power Trades Scanner has several important settings that directly affect the results:

      Total Volume — the minimum value of the volume that should be traded during the specified time interval
      Time Interval, sec — the time over which the Total Volume should be traded
      Basis Volume Interval, sec — this parameter shows how much % took the traded volume in the total volume for the specified time.
      Zone Height, ticks — this parameter will show only those zones where the height is less than or equal to the specified value (in ticks).
      Level2 level count — the number of levels that are involved in the calculation of Imbalance and the Level 2 Ratio column in the table of results.
      Filter by Delta,% — the parameter will show zones that have a delta value greater than or equal to that specified in the setting. The value must be specified by the module, so the table will show both positive and negative delta values. We recommend paying attention to the zones with the delta above 50% (taking into account the specifics of each trading instrument).
      For example, let's set the Total Volume of 2000 contracts and Time Interval in 3 seconds on the E-mini SP500 futures. This means that the scan will be based on the available history and will show on the chart only those zones that have such a volume for the specified time.

      Additionally, it is worth to set a delta value to filter out the zones with one-side trades. The more delta value, the high probability that the price will reverse.

      So, as a starting point about this scanner, I think this information will be enough
    • makuchaku
      Volume profile analysis of SPY for 2019
      By makuchaku
      Hi everyone,
      This is my maiden analysis using volume profile - so please don't hesitate to share your feedback.
      As per the attached analysis, I think that SPY is primed for a short - for many reasons
      - Multiple strong rejection of long positions exist at Resistance R1 and R2 : seems like sellers defending their positions
      - Very strong short volume seen at R2 : further signifying sellers who are ready at that level
      However, once the price reaches Support S1, there seems to be a strong buying sentiment which has rejected previous shorts. You can see trading ranges & pullbacks to S1 where buyers and sellers seem to agree on a price range, often leading to a buyer dominance.
      What do you think?

    • TraderJoe
      Volume Profile NT8
      By TraderJoe
      Hey All,
      does anyone sell Volume Profile Indicator for NT8.
       
      Regards

  • Topics

  • Posts

    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      UHS Universal Health Services stock, nice rally off the 197 support area, from Stocks to Watch at https://stockconsultant.com/?UHS
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      SGMO Sangamo Therapeutics stock, good start off 2 support area at https://stockconsultant.com/?SGMO
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      AAPL Apple stock, watch for a top of range breakout at https://stockconsultant.com/?AAPL    
    • HFblogNews
      HFMarkets (hfm.com): Market analysis services.

      By HFblogNews · Posted

      Date: 26th November 2024. Trump’s tariff threats boosted Dollar; Peso, Loonie, Gold & Oil Lower. The Trump trade picked up steam as investors cheered his pick for Treasury Secretary, Scott Bessent. Beliefs he will be a steadying voice in the administration’s fiscal measures, while still following President-elect Trump’s tariff and tax commitments, underpinned. Asia & European Sessions:   Trump threatened on Monday to impose sweeping new tariffs on China, Canada and Mexico on his first day as US President to crack down on illegal immigration and drugs. He would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China as one of his first acts as president of the US. Bessent’s 3-3-3 plan aims to cut the deficit to 3% of GDP, boost growth to 3%, and increase oil production to 3 mln barrels. Treasury yields dove in a curve flattener, extending their drops through the session, on expectations inflation will decelerate. A strong 2-year auction also supported. The Dow led the charge, climbing 0.99% to 44,736, a new record peak as the rally broadens. The S&P500 climbed to 6020, a session peak, but finished with a 0.3% gain to 5987. The NASDAQ closed 0.27% higher. Today, stock markets in Europe are posting broad losses, with the DAX down -0.6%, the FTSE 100 0.4%, after a largely weaker close across Asia. ECB: Lane suggests ECB must be open-minded on speed of rate cuts. The ECB’s Chief Economist said in a speech on Monday evening that “remaining open-minded about the speed and scale of adjustments is in fact a valuable strategy across various environments, as different situations may necessitate distinct approaches.” This careful, step-by-step strategy enables us to observe the responses of the economy to our decisions and continuously refine our understanding of their impacts.” The comments leave the door open to a 50 bp move in December, but also tie in with our expectation that the central bank will deliver a 25 bp while tweaking the forward guidance and commit to additional moves. Financial Markets Performance: The USDIndex hit a session high of 107.50 and is currently lower at 106.85. Mexican peso and Canadian dollar slumped as the dollar is being viewed as a haven after the comments of President-elect Donald Trump on tariffs on Canada, Mexico and China. USDCAD spiked to 1.4177 and USDMXN rallied to 20.74. Oil and Gold lost ground, in part on cooling geopolitical risks, and on Trump trades. Oil dropped -3.03% to $69.09 per barrel, in part on the Trump trade and on talk of a potential cease fire between Israel and Hezbollah. Similarly, gold fell -3.26% to $2605 per ounce. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      RYAM Rayonier Advanced Materials stock, nice trend with a pull back to 8.79 support area, bullish indicators at https://stockconsultant.com/?RYAM
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept