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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
It will vary on how many contracts I have on and how close we are to the next key number. In this case I have 5 contracts working and averaged in at 1091...I donot add agressively with fades so late in the day as there isn't enough time for the exit and I am not trilled with the overnight either...I have an alert set to get to the computer if we trade to 1100..the plus 10 players will to push to 1102....
the key 1100 held so we have a chance to trade out of this agressive late day short from Tuesday.....good volume up there...I won't be surprised if they attempt to run out those highs....but only shorts for me in this early trade
overnight showing P pattern which is good for us shorts....I hope...lol
went flat on mine for a loss, try to keep a 3pnt stop!@!@@
Ugggggly open !!!!
Didn't take long to get those triple at 97 area!!
That would have been agressive as open print is just too close...Todays is very interesting as we are rejecting the 1100 in the ES but the key round number of 1800 is holding in the NQ...It should be no wonder why we might be consolidating stuck with those key numbers but which one will win is a better question

I have no clear read as we are stuck inside the 60 minute range and also the overnight range. This would be classic consolidation day as we have traded on both sides of the 60 minute...I still prefer selling the rally especially if they run out the 1100 folks. Volume is lower today so that implies to me that these higher prices aren't attracting new longs...there is low volume at 1094 so I'll trade for that to be tested..
Just started a new short campaign at 98 even....They may be pushing to run that 1100 so we need to be careful up here...targeting the 94.25 area
Sorry, I didn't mean to imply I traded for those..I just meant "they" ran them out rather quickly
we all see the new triples and gaps in the YM..classic signs of poor volume trade!
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.