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Friday 12-14-07


seems like we are opening in the buy zone of 85 -87 area..would prefer to see a run out of overnight low to get long...will be surprise if not enough power to take out the 90.50 players on upside
Today's open right at the POC and a down gap of around 10 points.

Click image for original size
Today's open in the ES - right at the POC.
looking for a narrow IB

thus no gap fill

if this occurs, then watch for the IB breakout for direction
what constitutes a narrow IB? Do u use a function of averages over "X" amount of days....

My thoughts are now : which way is hour range to be broken and overnight points of 96 area or the 85 area....million dollar ???'s
quote:
Originally posted by pt_emini

looking for a narrow IB

thus no gap fill

if this occurs, then watch for the IB breakout for direction

pressing the upside from 89.50..trying for new highs and and 95
first hour range in place, still no gap fill

bush prattling on the TV
ib breaking out to the upside
gaps are filled and market has stalled at longer term downtrend line.

might be a spot to take a shot at a short... assuming this is not a trend day of course
97.50 is final fill...
narrow ib: I don't have a specific formula or statistics on the topic, I go by feel... lol

perhaps DT has some statistics ?
ok, works for me..thanks...
quote:
Originally posted by pt_emini

narrow ib: I don't have a specific formula or statistics on the topic, I go by feel... lol

perhaps DT has some statistics ?

I have T&S always visible for the CME e-mini's (ES,NQ,ER2) , i tend to ignore the YM and prefer keeping a small chart of the cash dow visible instead. Unlike most traders, I do not filter my T&S. I also keep a T&S of the $Tick up next to the others.

I watch how the T&S runs in relation to key price levels from my charts, and also whenever a short term trend change signal is given by my method, these usually coincide with key levels of the $Tick. I have certain expectations for price action as certain things setup and occur.

I never sit and watch just T&S without a frame of reference or context within which to interpret the price action.

T&S is very powerful and is without a doubt the fastest "indicator" I am aware of or have seen / used.

quote:
Originally posted by BruceM

This was a cool area DT,,,we had the hour low break down and a key zone from Thursday also...classic Support to resistence....it seems that some kind of price action entry or an entry that is derived from buying pressure "drying" up in general would be a better way to go in hindsight....

I've never found anyone that can read Time/sales, the DOM etc at these price points to see if we could get an edge...Does your bid/ask indicator show anything at these key price zones???

PT do you or did you see anything that would tip us off that the singles would get filled in and the sellers where stepping back in...? I know you watch T/s for brief periods of time.....anyone??