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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
76 - 78 is critical in ES today as is 75 - 80 in the NQ...we need to be aware of the possible consolidation day....
shorted 88.50...upper key for me is 88 - 90 ...also 82 is a key number
second campaign from 92.50 ...short..great day so far NQ lagging
if this hour break out fails we should at a minimum get the top of the high volume bar at 1088 and more
Nicely done Bruce!!
What was the significance of the 93 area??
81.75 is my best fill....trying for 78 area before 85- 86 area hits...gotta watch the 50 - 75 area in the ym...expect some chop as we enter that area....If we eneter that area...and the 78 - 76 zone
I've been watching these 10 point zones for a while on this leg down....but more importantly it was an attempt to suck in longs at the hour highs...the 10 point numbers are these during this current down move

1102 - 1103
92 - 93

82 - 83

72 - 73

These are just approximates so we are looking for other things to concur
Originally posted by jyonkeeod

What was the significance of the 93 area??
flat on last two at 82.50...just don't want this trade to draw down if they decide to consolidate spome more
as per volume the best zones to watch on the upside are

77 - 80 in th ES

080 - 100 in the YM

57 - 61 in NQ

I prefer to be selling up here as close to these zones as possible....es hitting up there NOW!!
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.