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ES short term trading 6-08-10


By all rights , i would think today begins the rebound that everyone expected yesterday, but time will tell! Remember the weekend preview and the cycles . tomorrow they turn down ,basically for the rest of the week. tomorrow is also a kools cycle turn date and a bradley turn date so the action today should be interesting . heres a short term look as we wind down the globex session....
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811
great Feng,,I'm looking to fade this 55 - 56 area now
Your 52 area should be filled in again
thanks Bruce. im also sim trading your ratchet levels as well to see how they play out with regards to stops, targets, and frequencies.
specifically the 52.50 !!
cool Feng...simple math tells us that if they can;'t print 56.25 they will try for 43.75..!
Originally posted by BruceM

cool Feng...simple math tells us that if they can;'t print 56.25 they will try for 43.75..!


lookin to long 43.75, i couldnt short 56.25 cuz it never reached there.

this will be on SIM.
There's buyers in the 1047-1048 area, as -ve TICK extremes cannot punch it down any further...
I am fairly new to this forum and futures trading. I used to trade forex. Been lurking in the background for a while but I do appreciate everyone's thoughts on the market. Special thanks to Bruce and Kool for all their insight. It is starting to make sense... in a limited way
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Originally posted by feng456

thanks Bruce. im also sim trading your ratchet levels as well to see how they play out with regards to stops, targets, and frequencies.


feng456, when you get a chance can you please link me up to where I can find more info about ratchet levels? I am new to this forum, I looked in search for "ratchet levels" but it came up with no results.
Thanks for sharing your strategy in "My Trading Plan" thread.
Originally posted by hari

Originally posted by feng456

thanks Bruce. im also sim trading your ratchet levels as well to see how they play out with regards to stops, targets, and frequencies.


feng456, when you get a chance can you please link me up to where I can find more info about ratchet levels? I am new to this forum, I looked in search for "ratchet levels" but it came up with no results.
Thanks for sharing your strategy in "My Trading Plan" thread.


Hari,

This was posted a few days back by Paul9... it might help with ratchets:
Posted - 06/01/2010 : 08:55:49

Originally posted by feng456

what do you mean when you say "Rat"?



He's referring to the ratchet levels... the split of the split between the 00, 25, 50, 75 levels

25 / 2 = 12.50 split

12.50 / 2 = 6.25 split of split

50 + 6.25 = 56.25
............56.25 + 6.25 = 62.50
...........................62.50 + 6.25 = 68.75
..........................................68.75 + 6.25 = 75.00

wash rinse repeat
I would call that "Range air" and hopefully Kool or Phileo will jump in here as they watch more for that....on consolidation days that will fill in and I would assume that range air fills in quite often...

And great observation about that being the highest volume bar on the day.....you get it...awesome....see how often that gets tested

Is it any surprise that the VA low from Tuesday is in the 47 area? No, It shouldn't be as the high vertical volume comes first and then the time builds up there because price is attracted to areas that had high vertical volume..

Hopefully REd will getto the Candle questions..