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SRs and Fibs 11/07/11


Dt, I like to start this topic for people that like to trade one, maybe 3 times per day, and use Fibonacci, SRs, pivots and E.Ws. That way we don't have a conflict with MP traders.
What I'm looking for here, is for people to post what they are seeing as possible set-ups and their strategies, to play it out.

Below is a 60 minutes chart with tomorrows set-up. The blue (1252.50) and red line (1248.50) are my guide lines to focus on buying or selling. If the price is above 1252.50 I will focus on buying set-ups till it gets to some type of resistance. Conversely, if the price is below 1248.50, I will focus on short set-ups till the price gets to some type of support and so on.

My 11/04/11 objective got void since the market found support at 1214.50. My next objective date is 11/08/11 and I have it at 1180.75 or so.
Something very peculiar is happening tomorrow. In the chart, notice that the price is right in the middle of the 2 red boxes. one at 1326 and the other down at 1180. This happens once in a while where the price is in exact time and it is waiting for the stronger hand.

Basically, the chart is self explanatory, all I have to do is keep my eye on them S/Rs and see if I have the proper set-up (to enter or exit) when the price gets there.

I hope this helps in some way.


As always, the market has the last word and in due time will show us the way.

Right now, next hours, next days, next weeks, next months and next years to come, I see for you the same I see for my self: Having the very best of luck, fun, awesome, incredibly profitable trading experience!!





Click image for original size
sp 500 es 60 minutes all sessions cont1106111903 et
Looks good to me Sandoxe. I hope we get lots of participation. It would be good to see many points of view.
I can wait to see 5000 "read" per day in this site. I hope I can contribute attracting at list 90.


Originally posted by day trading

Looks good to me Sandoxe. I hope we get lots of participation. It would be good to see many points of view.
Here is a video follow up on the one posted 11/01/11 Much better explaining things, I think.
enjoy.
(lower your puter's volume, just in case)

I'll post here as I really don't use volume(I referred to it once regarding a H&S pattern) or news.
Your levels and target(equidistant) okay, but different folks have different levels.I have previously posted the levels to watch in the ES forum thread and as I get older I tend not to repeat myself more and more.
Short term levels to break are 44 and 46.50 sub the 1250 62% level of greater scale.
I've previously stated a bearish case Friday week ago. In the field of play here between 1215 and 1250.
For reference, the 58.50 level is the 62% level of 1208-1289 range.
1339.50 the 50%, and 1227.50 the 38%.
1223.75 the key level to hold for the box range 1070-1223.75
So strength above those 50% levels until negated. And barriers of 1250 and 1258.50 to be broken and held for higher. Just trading in between.
Correction=
58.50-62%
49- 50%
39.50-38%
23.6%-27.50
and currently out of the field at 37.50
Originally posted by DavidS

Correction=
58.50-62%
49- 50%
39.50-38%
23.6%-27.50
and currently out of the field at 37.50


This is one of the BIG reasons that I stay away from this type of analysis. David S appears to be very versed in and yet often I will see quick corrections that I don't understand. If Fibs are math, why the errors? Not trying to be a jerk but I don't get it.

To Sandoxe: is it coincidental that for today, your high number is very similar to the VAH and Friday's high while your low# is the POC?

TIA.
I am not Sandoxe but would like to reply to the post above ^^ ... When #s meet in the same area but are derived from different methods that area becomes stronger .. I don't need to know how they got the # .. I am only interested in it if it is in an area I have ..

I guess some may think by posting their #s gives another trader better info than they might otherwise not have ..

I'am sure if you check with Bruce and DT you would find I seldom check in the ES room and most of the time it is after market close .. so I am not using these #s .. but I do ckeck from time to time ..

Thanks for letting me reply ..
Hi Mike,
Nothing but human error.I typed the incorrect numbers and their corresponding fib levels were also incorrect. I rarely refer to the 23.6 level and included it in my correction so as to show where the error originated. I don't calculate the numbers. I took em off my chart incorrectly. Sorry.

I'd hoped the correction was clear. Such is the medium. I posted a correction as soon as I realized I'd made the error.

As for analysis. Yep, mathematical and valid method. Only a part of mine. I'd hope anyone that would attempt to utilize any levels posted would confirm first, as I would, on their own. As you note ,can be done mathematically if ones chart system not capable.

Originally posted by Big Mike

Originally posted by DavidS

Correction=
58.50-62%
49- 50%
39.50-38%
23.6%-27.50
and currently out of the field at 37.50


This is one of the BIG reasons that I stay away from this type of analysis. David S appears to be very versed in and yet often I will see quick corrections that I don't understand. If Fibs are math, why the errors? Not trying to be a jerk but I don't get it.

To Sandoxe: is it coincidental that for today, your high number is very similar to the VAH and Friday's high while your low# is the POC?

TIA.
Yes BMike. It's coincidental bc I don't know anything about MP. The market is the same no matter how you slice it. Fibs, s/rs, pivots, you name it. Soon or latter they come together at one point or another. That's why I like it when other people post their way of seeing bc some times there's congruency between their way and mine, and that my friend, is a potential level to keep in mind!

!
Originally posted by Big Mike

Originally posted by DavidS

Correction=
58.50-62%
49- 50%
39.50-38%
23.6%-27.50
and currently out of the field at 37.50


This is one of the BIG reasons that I stay away from this type of analysis. David S appears to be very versed in and yet often I will see quick corrections that I don't understand. If Fibs are math, why the errors? Not trying to be a jerk but I don't get it.

To Sandoxe: is it coincidental that for today, your high number is very similar to the VAH and Friday's high while your low# is the POC?

TIA.
Originally posted by DavidS

Hi Mike,
Nothing but human error.I typed the incorrect numbers and their corresponding fib levels were also incorrect. I rarely refer to the 23.6 level and included it in my correction so as to show where the error originated. I don't calculate the numbers. I took em off my chart incorrectly. Sorry.

I'd hoped the correction was clear. Such is the medium. I posted a correction as soon as I realized I'd made the error.

As for analysis. Yep, mathematical and valid method. Only a part of mine. I'd hope anyone that would attempt to utilize any levels posted would confirm first, as I would, on their own. As you note ,can be done mathematically if ones chart system not capable.

Originally posted by Big Mike

Originally posted by DavidS

Correction=
58.50-62%
49- 50%
39.50-38%
23.6%-27.50
and currently out of the field at 37.50


This is one of the BIG reasons that I stay away from this type of analysis. David S appears to be very versed in and yet often I will see quick corrections that I don't understand. If Fibs are math, why the errors? Not trying to be a jerk but I don't get it.

To Sandoxe: is it coincidental that for today, your high number is very similar to the VAH and Friday's high while your low# is the POC?

TIA.



Thanks David, I just would see myself making too many errors and lack confidence in this type of trading. But whatever works for someone that's great.

Good luck to all.