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Chart of the day


Here is a gap and triples so up here at 1227 is my sell...look at the gap in between the white lines...just couldn't hold long with that looming
Click image for original size
triples and gap
starting a small 3 contract position at 1090.25...LONG !

Key numbers are

1105-1106

1113 - 1116

1123 - 1126 ***** big magnet here
I consider this very high risk!!!
correction on first upside key....1102 - 1103
made this flat on the way back up at 1090...we have the 10 point players...every 10 points off key volume new volume hits.....note the 92 and 1102 areas and volume...they'll keep trying to push it down by 10....
Originally posted by BruceM

starting a small 3 contract position at 1090.25...LONG !


Long!... you've got quite the gonads Bruce!



I think the bloodbath is starting.
You may be right Blue but they never go up or down in a straight line......I'm hoping they gap it down soon to buy into it
anyone on the short from up here at the 1102 ? You are the big winner today
Originally posted by BruceM

correction on first upside key....1102 - 1103
I have a long trade (sim account) taken after the 1087.75 low of 10:37CT
at 1094.50 at 10:52 - poor entry! Oh well, still learning.
the volume profile has me blinded to only shorts up at the 97.50 area...I'm thinking they want to round it out to the downside a bit from here.....challeng is that we still have that 1102 - 1103 volume magnet.....on the upside but still worth the risk IMHO
93.75 is the best I could do...flat now....not bad for such a narrow range....best buy of the day was the hour breakdown into the key 90 area ( look at volume peak late friday...which attracted the close price...not posted earlier by me) for reference......
I don't think the volume is an issue but it is just something I have observed. I personally would not look at 1 - 4 minute etc..you'd drive yourself crazy and find too many areas of consolidation. For me it's on the 5 minute or else I don't look for them.

Obviously they are not perfect and you can see 5 (5 minute bars) in a row down near the 988 area that have held.....those folks got rewarded but most times the triples give folks the false impression of being rewarded only to get run out later.


There are some who think that the floor or larger traders don't gun for stops.....while they may not gun for my SPECIFIC order I beleive they do know that folks are taught to keep stops just below or above swing points and consolidation areas, like the triples. This is why I am a fader and like things like previous highs and lows and volume areas. We just don't trend enough and spend a huge amount of time consolidating...

Bring up a 5 minute chart of the ES and see how often we get a trend away from a price without going back to fill in the breakout area later.....look for my thread called "Price bar overlap" soon. The RTH session begins for me at 9:30 e.s.t and ends at 4:15 . Everything outside of that time is considered the overnight session for me.
Originally posted by ak1

Thanks Bruce, if the triples are formed inside the days range on high volume will they be considered valid.Like the ones at 1006.5 on Friday. Also if we can't find triples in a 5 min. chart, is it OK to consider the 1 min chart then or do we go loking for them from 4min to 3min to 2min and then 1 min.i.e scale down.