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ES Wednesday 1-11-12


Seeing that the Compx and the russel haven't taken over their late October highs should be a concern for the longs....Obvious keys will be the 89 high you Monkey mentioned , the 83 high and all this volume from the holiday trade in the 74 area.

I don't like when everyone talks about a certain pattern like this rising wedge in the S&P. It seems too obvious. I always assume that if my 10 year old can see it than everyone can see it. Now does that become a self fullfilling prophecy and because everyone sees it then it fuels buying or is the smart money selling out into the obvious public hands? Sure wish I had the answer

Lets see what the O/N does
Thanks for the good words BKAY...appreciate it...


this is a good value at this link for all...I don't promote too many but you will learn some good things from Carl and in my opinion you are buying BELOW value like we want to do in the markets

www.carlfutia.com/subscribe
Simpler the better works for me...I'm not a rocket scientist

I'm new to this stuff and want to learn all I can. As a 1 and 2 lot trader, I'm looking for simple and safe. I'm working with an old S&P floor trader that is still trying to work out the kinks and get used to this electronic trading.

We seem to finally be having some success with a setup related to kool's tools. Seems to work well across markets. I really like the psychology of the pitbull setup.

The CL looks like the better place for "bang for your buck", but working the ES is very helpful because they appear to relate to each other.
Bruce, you have been a great help and more than all a man with knowledge and no ego, a rare combo Thanks a lot. i really mean this.
Thanks for the kind words....it's always nice to hear....



now we are into a key zone on ES and YM is approaching a key low volume zone.....seems more likely given the market structure that we trade back to 84.75 soon....volume is too light for me so I'm just doing some OPTION writing research...one of my goals for trading in 2012 is to add an option program to my portfolio...

always looking for opinions good or bad....I have some knowledge of options from 10 years back but I'm rusty..
Welcome to the forum Goldenjet.....I've heard great things about the CL....please keep us posted on your progress in both markets...these threads are for any market somebody wants to write about so all are welcome

I have a history with being too hard on various trading methods but let me say here for the record that the NEW and Improved Bruce of 2012 will not give anybody a hard time about their methods.

I hope we can get some broad participation and hopefully those that may have felt alienated in the past will return.

Kool Blue has a great method and many have had great sucess with his ideas.. thanks for posting
struggling with not seeing the forest for the trees...been trying to buy a signal when the market was telling me to SELL...sheesh at least I was able to scratch my trades...Selling would have had us up +/-$600 on a 1 lot in the last 10 minutes. See what the market is offering!
Thanks for the welcome Bruce...I'll contribute what I can, but I'll be mostly trying to watch, listen and learn.
Volume

Click image for original size
2012 01 111433
my suggestion would be to buy Markets in Profile by Dalton...so much more than a book about market profile...in fact I wouldn't even consider it an MP book...I've come to appreciate the simplistic ideas of looking beyond the dailies to the weekly and monthly bars....

It's no coincidence that 1283 is Octobers highs and the market cannot decide what to do around it today...no real magic but effective
Originally posted by GoldenJet

struggling with not seeing the forest for the trees...been trying to buy a signal when the market was telling me to SELL...sheesh at least I was able to scratch my trades...Selling would have had us up +/-$600 on a 1 lot in the last 10 minutes. See what the market is offering!
15,350 contracts now on level 1285.25 - see chart above
Hi Horse and welcome...I don't think it is the same thing but please keep us posted..there is lots of great work going on with probabilities and I'm sure most of us here would enjoy seeing some statistics on moves off the open.

Perhaps you can repost the ideas here on a daily basis if they will let you..
Originally posted by horse43

Enjoy the great info everyday Bruce!

When you reference OR what timeframe is best to use? 5 minutes is the norm I believe.

Haven't seen much on +/-4 on these boards off the open before. But i think any +/- 4 handle move in the first 30 minutes is a significant event and gives some good clues the rest of the day especially when put into context. will definitely be looking more into a pitbull approach because there is definitely something there and i feel with all the imbalances at open, there is a lot of reversion back to open to find some balance.

I've have seen something about the +/-4 moves from another site. I found a site recently and have been following it that has a section devoted to this and whether they are a fade or a go with, think it's sort of based off the Crabel stuff too.

when doing some research on trading with probability i did a google search of trading probability and came up with it, its 6 links down on google, don't want to advertise this in anyway so if you want to search for it you can!