No registration required! (Why?)

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
stopped at 81.50..trying again from 75.25 for 81 retest.....wrong side today...ouch!!
Was long @76, took one off at 81 and just took the other off at 82.75,
....was tired of getting burned on my previous 3 trades, thanks too learning from you and KoolsTools I was able to come back a little. I guess will see if she tests that 88-90 area next?
Best for me is 83.25 and have two left.....no real clue now but they are trying to test the high VERTICAL volume ( these are the soikes in the histogram and the bottome of my chart........in many peoples world they are looking at the Low volume created by the price histogram which is on the right side of my chart...we had two forces looking to retest higher prices......here is the chart that shows there is no price histogram showing between the 1076 level and the 1083.75 level...that needed to be filled in..at least in theory..
Click image for original size
2010 01 281247



One last thing that I am still learning about trend days and volume thrusts and that is this.....if we open and trend immediately then it is safer to buy/sell the 3rd or fourth thrust in the volume.....and that is why I was very agressive down at the 1075 area.....
well done.....nice trade and a tough day...I just went flat at 82.25....will have to watch that hour range low if we can get above it again...I don't like having losing days ( which today is for me so far)it hurts the bank account more than the ego....as long as we realize that's it's nothing more than the cost of doing business and brush it off........tomorrow will be better.
Originally posted by jyonkeeod

Was long @76, took one off at 81 and just took the other off at 82.75,
....was tired of getting burned on my previous 3 trades, thanks too learning from you and KoolsTools I was able to come back a little. I guess will see if she tests that 88-90 area next?
76.50 -78.50 is the key volume zone that they may mess with,,,,I'm hoping it holds as support and we get a rally back up..I have that 85 number in my sites...that;s a weak swing high I think and should get tradedover
the nq hasn't tested it's highest volume of the day yet......if/when it does we will take out that 85 in the ES and possibly make it back to the 90 area....that's the next highest volume for the ES
Very interesting, my broker has shown how he uses contract bars 10,000 along with these price histograms as targets. The only bad thing is that it seems to work best on choppy days. But it is somewhat interesting because the volume is kind of already built into the bar?
perfect test for the NQ....they must get above it now or this market is gonna chop down again
I beleive PT here on the forum is a volume bar pro......I prefer to use the volume spikes as targets and the shape of the histogram to aid in direction.......it's all good if we can make it work and make money......C'mon 1085.....they just kill me sometimes...ah...perfect .....hopefully this volume above the 85 isn't just the smart money selling out to the breakout folks
Originally posted by jyonkeeod

Very interesting, my broker has shown how he uses contract bars 10,000 along with these price histograms as targets. The only bad thing is that it seems to work best on choppy days. But it is somewhat interesting because the volume is kind of already built into the bar?
here is the NQ with the highest volume one minute snapped across....no wonder we couldn't get up to the 90 area in the ES..nice market divergence
Click image for original size
nq
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.