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ES 10-09-08


buying @ 998.5

stop 994.5

i think it goes to 1010 - 1015 and back to the lows.
Prestwick..I guess my real question is :

Do the big traders change their bias quite often during the day..?
bumping into next key downside zone now..76-79...If this had traded down into this first I would have tried the long but not now....
Volume...what awesome magnets...!!
977 is a prime sq nine. Maybe it'll hold for awhile?
Bruce - the bigs do change bias intraday especially on news and on really overbought or oversold conditions when it happens. Now bigs are -21600 and smalls are still positive, +5k. Joe - those sq 9s sure are magnets like Bruce said. Oops - as I was typing this bigs moved up to -16800 (they liked the sq 9 I guess).
That's why I prefer zones in low and high volatility...I think anyone who says they can pick off exact tops and bottoms consistently is a liar...we need to give all our numbers some room....thanks for pointing that out......nice to have reasons for the volume spikes
quote:
Originally posted by culsu

977 is a prime sq nine. Maybe it'll hold for awhile?

That's neat.....so what happens if you trade back down into a key number and the bigs are less short ? Do we get a spike up in price....for example...we traded down into the 76 - 79 area....what is happening to the bigs on this second time down after that 10 point pop up..? Does that question makes sense Prestwick?
quote:
Originally posted by prestwickdrive

Bruce - the bigs do change bias intraday especially on news and on really overbought or oversold conditions when it happens. Now bigs are -21600 and smalls are still positive, +5k. Joe - those sq 9s sure are magnets like Bruce said. Oops - as I was typing this bigs moved up to -16800 (they liked the sq 9 I guess).

so far we have lower volume after that 10 point pop up but I'd be curious where the bigs stand on various tests of prices....Is there a pattern?
so the next Gann number sits at 961....interesting.....I wonder how often they fail as support per day ? The real question is

How often will two Gann levels of support fail per day? That might be useful information as a statistical study..If we fail at the first then should the second one hold it up....?

What would actually constitute a failure? That 10 point move off the 977 area isn't a failure in my book....rambling now...

Then we could ask...how often do we close above / below the second level....
Joe have you noticed a tendancy for traders to Front run the gann numbers over time?
quote:
Originally posted by koolblue

YEAH, Joe .. as i said i did! But i was sure it could be mastered and after using every system known at the time , i decided to be my own 'expert' and develop my own thing! been fine ever since!



Well said, You can hear it a million times but its whats needed...a system. I am counter trend trader most of the time so its a given that you'll draw down a fairly large amount at times. But my draw downs are smaller than my winners, and once losses occur I go smaller on contract size and then add back to it when things go back to normal. I don't need a new system I just wish I knew how to flip the counter trend trader off and turn on the trend trader in an instant.