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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
two highest volume bars sit at the highs and the lows for the day so it's basically a coin flip as to which one they will test to end the day......I'm hoping for the lows.

"P" pattern again today but those have recently been unreliable....still have a bad feeling for longs....this has been quite a struggle to get anything going above last years highs.......on the positive side though, us sellers haven't been able to crack them down ....YET!!!
well your 40 number was much better than my 23 number so congrats....
Originally posted by ranjha

I think upside move is not completed yet ... It will hit 1140-1150 zone and turn back
so far a dismal overnight range...I'm again working the short side from 46.25...eventually we will get the good short...Mondays have been stronger and we are aware that we have a "bad" high at the overnight high of 48 and a key number of 1150 so we have good add on points


keys for me 1141

336 -37.50 **** left over triples from friday

27.50

1123 ******* it will print this week and I want to be short for it...last week they failed me but there is no way they will let that gap and the base building buyers win on a low volume week...they will run them out
we gotta respect the volume that's building at the 46 number...wathc the 5 minuyte range,.,,,we've opened out of value...trend today...hopefully down
they've finally run the triples that formed in todays session near the 1141 area...always safer to try sells after that is done....
The volume profiles from today and friday are creating an interesting formation which still seems to be calling for a sell any rally mentality...

we basically have two high volume areas at 1136 and 1141....so there is lower volume in between those two points...I think if we can get sells at or above 41 we'd be doing fairly well as they will go to fill in the low volume

Seperating out the days we have a "P" profile on friday and a "b" profile today.....so you put them together and we get a buldge in the middle.....but it still needs to complete

Unfortunately my freakin charts aren't copying the volume profile portion of my charts...I'm not in favor of them trying to rally it after the bonds close like friday.....so still on the sell side..hope that actually makes sense and $$$$$ .
if they can just get those triples run above then the short side ...ok..can't type and trade..I',m on the 42.50..'s..
trips at the 40.50 area and low volume...hopefully one more little push up and then it rolls over
added 3 at 43.50...running back trying to get an image file...explain lATER..c'mon sellers..help me out
covering all 6 at 39.75 in overnight...
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.