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ES 1-6-2008


Good Morning Traders !

VAH 930.50
POC 925.50
VAL 922.00

Weekly R1: 954.50
Weekly PP: 904.00

Daily R2: 944.00
Daily R1: 935.75
Daily PP: 926.00

Highest High in last 20 trading days: 934.25

I will be watching what happens at R1 with great interest this morning ! Also watch the IB high for indications of a trend day if price is accepted above R1.


ES Daily Notes 5 Jan 2009
i will hang out and hope for 22 but really want 17-18 where we would have an uber bullish pattern...just wishful hoping
for those not mixed up in the world of market profile...a ledge will have matching 30 minute lows or highs inside the days range.....not called a ledge usually when the matching 30 minute low or high falls on the days highs or lows....
quote:
Originally posted by BruceM

what do most use to see the "wall of sellers/buyers" etc....? I never could get Bid /ask , time and sales stuff....anyone have anything that works at their predfined zones? Any help is appreciated
quote:
Originally posted by PDQ

There's a pile of shorts at 940.....





I watch for certain repeating patterns at key price levels. 940 was an obvious example of which. The point being, you need a reason to stare at the DOM or T&S... 90% of the time I ignore them. If price is at a key price level, then I watch DOM / T&S closely to see how the market is acting per my expectations.

T&S is more of a confirming indicator for me. I use color to tell me what is happening. Light Green is a trade at the Offer, Light Red at the Bid, dark green above the offer, dark red below the bid. Next, I filter the T&S at 10 and set my block indicator to 50. I am watching 3 groups of traders. First I watch the medium size traders between 10 and 50 lots which tends to act as a flow of orders in the direction of the immediate trend. Second group are the blocks above 50 needed to sustain a price move, and finally I am watching for the big blocks above 200 which tend to kick newly forming trends into hyper-drive.

If you stare at this stuff long enough, and have a good feel for all these little S/R levels, then eventually it will start to make sense. It takes time to develop a reliable feel however.
still plenty of time for that VO....hope you clean em up
long the ym @ 8965
hmmm this is a poser...don't think there gonna wanna end the day here, but which way they gonna go?
flat 70 on ym
thanks PT....I guess that would be a tough thing to teach as it changes so fast to get screen shots etc......That is a great way to confirm trades I would imagine once you get the hang of it.....You had that wall of sellers at 903 a few weeks back which was awesome as that was a key zone ..thanks for the explaination
quote:
Originally posted by pt_emini

quote:
Originally posted by BruceM

what do most use to see the "wall of sellers/buyers" etc....? I never could get Bid /ask , time and sales stuff....anyone have anything that works at their predfined zones? Any help is appreciated
quote:
Originally posted by PDQ

There's a pile of shorts at 940.....





I watch for certain repeating patterns at key price levels. 940 was an obvious example of which. The point being, you need a reason to stare at the DOM or T&S... 90% of the time I ignore them. If price is at a key price level, then I watch DOM / T&S closely to see how the market is acting per my expectations.

T&S is more of a confirming indicator for me. I use color to tell me what is happening. Light Green is a trade at the Offer, Light Red at the Bid, dark green above the offer, dark red below the bid. Next, I filter the T&S at 10 and set my block indicator to 50. I am watching 3 groups of traders. First I watch the medium size traders between 10 and 50 lots which tends to act as a flow of orders in the direction of the immediate trend. Second group are the blocks above 50 needed to sustain a price move, and finally I am watching for the big blocks above 200 which tend to kick newly forming trends into hyper-drive.

If you stare at this stuff long enough, and have a good feel for all these little S/R levels, then eventually it will start to make sense. It takes time to develop a reliable feel however.

l ym @ 66
agree MYpt..the ledge...jump off the ledge
quote:
Originally posted by myptofvu

hmmm this is a poser...don't think there gonna wanna end the day here, but which way they gonna go?


Thanks PT. Very much appreciated the time and thought that you have put into the questions I asked.
I have still a lot to learn.
Regards
A