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TheNegotiator

Day Trading the E-mini Futures

By TheNegotiator, in E-mini Futures

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roztom    10

roztom
Posted

Upside Nodes/Targets as Previously posted:

 

Yep We are in thin air up here... I have 29.75 recent top and a CLVN 1333.25 , CHVN 35.75, CLVN38.50.

 

SO far after the report we have tagged the 35.75 area.. also had 1335.00 NVPOC up here..

 

The Nodes are gelpful reference points/Targets, etc as we have already discussed...

 

As this morning with the Employment Report this does not indicate a suggestion to fade the numbers or anything but I believe you will see the market react to them and then as the RTH timeframe develops give guidance for potential positions..

 

Here is a question: Affter a big move like this and a breakout to a new level...how do you trade it?

 

1. Wait for rotations to go with the direction of the move?

2. Countertrend trade it..the move is over and late buyers will get stuffed?

3. Trade from both sides?

 

4. Other?

 

Regards,

 

Tom

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TheNegotiator    13

TheNegotiator
Posted

I don't personally hold positions into NFP Cory.

 

Btw, take a look at the 50% on the entire move. No coincidence.

 

Tom, looking further back I'd say if we take 1350 area, there not a great deal until 1400's.(that's not a suggestion for today btw!! :))

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roztom    10

roztom
Posted
and here is nice follow up as price moves up to test Value Area High at 1323.50

 

Now the question is...do you take profit and reverse, or wait for price to take out VAH?

 

Nice work Steve.. How do you manage the sleep thing?

 

Thanks for the posts..Tom

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TheNegotiator    13

TheNegotiator
Posted
Unfortunately I am limited in what I can say about the report...(I am working with clients on this)...I can show my pre-position screen.

 

Good luck today folks

 

Are you saying you had a position into the report or is that just a chart steve?

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steve46    12

steve46
Posted

I said what I CAN a moment ago...if you re-read my last couple of posts...there is information there pertinent to what you are asking....I can't say more than that....I was trained to approach this (and all report situations) in a specific way....thats what I did...now I have to go back to work

 

Best of luck to everyone

Steve

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TheNegotiator    13

TheNegotiator
Posted (edited)
I said what I CAN a moment ago...if you re-read my last couple of posts...there is information there pertinent to what you are asking....I can't say more than that....I was trained to approach this (and all report situations) in a specific way....thats what I did...now I have to go back to work

 

Best of luck to everyone

Steve

 

No problem Steve. Just I would point out that saying you had a long position several hours ago and holding the trade into NFPs are two very different things. I haven't used ESignal in a very long time now but as far as I can tell, your "pre-position screen" is just a chart showing no position data at all. I don't know whether this was just an oversight or not though as you have stated before that you find it difficult to post and trade simultaneously(which I agree with) and this is obviously a big issue under shock-NFP trading conditions! Perhaps you can fill us in later.

 

For many people though, especially retail traders, trading NFPs is very dangerous. You must know what you are doing. You must appropriately size your position to account for possible increased volatility. You should also have fast low latency equipment. You should also have a good sized account. This is all my opinion. Remember, you can lose more than the amount that you having sitting in your account when trading futures products.

Edited by TheNegotiator

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CYP    10

CYP
Posted
Upside Nodes/Targets as Previously posted:

 

Yep We are in thin air up here... I have 29.75 recent top and a CLVN 1333.25 , CHVN 35.75, CLVN38.50.

 

SO far after the report we have tagged the 35.75 area.. also had 1335.00 NVPOC up here..

 

The Nodes are gelpful reference points/Targets, etc as we have already discussed...

 

As this morning with the Employment Report this does not indicate a suggestion to fade the numbers or anything but I believe you will see the market react to them and then as the RTH timeframe develops give guidance for potential positions..

 

Here is a question: Affter a big move like this and a breakout to a new level...how do you trade it?

 

1. Wait for rotations to go with the direction of the move?

2. Countertrend trade it..the move is over and late buyers will get stuffed?

3. Trade from both sides?

 

4. Other?

 

Regards,

 

Tom

 

Hi Tom,

 

Wow - impressive jump based upon very good jobs numbers. Looks like the market is cycling around your nodes. Does this mean these levels are the new value areas?

 

The numbers looked strong -- so I'm thinking there is potential for a higher climb, but for now I'll just watch...

 

CYP

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roztom    10

roztom
Posted

8:16cst... Anyone who has MP/VP up will see some interesting Pre-RTH Delelopment..

 

1. We are currently rotating between: 1333.25 CLVN & 1335.75 CHVN

 

2. If you have VP up you wil see there was no volume until 1331.50 level..We are currently forming a early balance area there... so eventhough it is too early to make a judgement there is information...

 

@ this point 1331.50 "might" act as support if we get rotating - unless we go deeper... too soon to know..

 

1338.50 is the next CLVN up.. will we get there? NO clue right now...

 

The GLobex Bellcurve that is developing is going to define...in my thinking the potential range. Of course we can do anything..just a look inside... We may push lower than 1331.50. I always try to think where is the fuel?

 

Not a suggestion anybody do anything in these areas..they are not actionable...

 

Just points of reference..

 

Regards,

 

Tom

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roztom    10

roztom
Posted

OK...1338.50 current HOD @ CLVN 1338.50 as previously posted...

 

SO what is next? Test of Open & current Mid-point... CHVN 1335.75

 

Next "potential" Area: current LOD 1333.25 Why? CLVN 1333.25 & Stops..

 

Just a profile read... as of 9:07a cst.. no clue of course..

 

UPdate: I got busy managing a position so I didn't press the submit but here is what happened: We DID test 35.75 & Open to the tick.

 

WE are now Testing 1338.50 CLVN... & DVPOC has just shifted to 1338.75..so it is going to be a decision time soon if this will continue up or rotate..

 

Any opinions?

 

Regards,

 

Tom

 

 

Regards,

 

Tom

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TheNegotiator    13

TheNegotiator
Posted

Hi Tom. I'm not trading today much if any. But what I would say is that considering the strength of the move, it really could've had a bit more of a crack at pushing higher already. The gap extension put a 127.2% at almost exactly the high(I often use the 27.2 as a measure of conviction of a move). The 50% retracement is at 1329.50. Not saying it will retrace, just that there are well lined up targets if it does.

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roztom    10

roztom
Posted
Hi Tom. I'm not trading today much if any. But what I would say is that considering the strength of the move, it really could've had a bit more of a crack at pushing higher already. The gap extension put a 127.2% at almost exactly the high(I often use the 27.2 as a measure of conviction of a move). The 50% retracement is at 1329.50. Not saying it will retrace, just that there are well lined up targets if it does.

 

I see it... The test of the open/midpoint was a key obstacle for a swing down..we held which was a tip off to get long... Also after we took stops @ 1337.00 & VWAP there was another spot to get long... We have a open close @ 40.25 so that may be a pause to refreshen or something more...

 

Thanks for the numbers,

 

Tom

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roztom    10

roztom
Posted (edited)
I don't personally hold positions into NFP Cory.

 

Btw, take a look at the 50% on the entire move. No coincidence.

 

Tom, looking further back I'd say if we take 1350 area, there not a great deal until 1400's.(that's not a suggestion for today btw!! :))

 

Yes..we are in the Ozone layer up here... not too many reference points... will just have to depend on sense of smell :rofl:

 

Edit: I do have a "guesstimate" 1344.50 ish.. It is strictly "old school" based on a relic called a bar chart..based on 15m bars - if we take out 1337.00 then it will have failed but it is at least to my eye a Bull Flag or a Pennent.. They do have measuring objectives and I do find them helpful but like all of these tools they do not predict - only guide..

 

Regards,

 

Tom

Edited by roztom

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TheNegotiator    13

TheNegotiator
Posted
I see it... The test of the open/midpoint was a key obstacle for a swing down..we held which was a tip off to get long... Also after we took stops @ 1337.00 & VWAP there was another spot to get long... We have a open close @ 40.25 so that may be a pause to refreshen or something more...

 

Thanks for the numbers,

 

Tom

 

given its vicinity, I would guess the high from 7/7/11 at 1341.25 would be more relevant than the close maybe

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roztom    10

roztom
Posted
given it's vicinity, I would guess the high from 7/7/11 at 1341.25 would be more relevant than the close maybe

 

I suppose... Trading is like horseshoes..I just want to get near the pin... :roll eyes:

 

Regards,

 

Tom

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