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Markets of late


Hello all, it seems that things have gone really quiet over here of late. I have been busy with a few other projects but am starting to get my feet wet again. I think I need to watch the markets for a few days to get my "feel" back. I will start posting the volatility bands from Monday onwards and hope to get back in the thick of things again. Hope to see others start posting as well but I will be posting regardless because I use MyPivots for my own selfish reasons of documenting thoughts. :)

Looks like the day time frame traders continue to be in control and things have not changed a whole lot from that point of view. This would be good for us day-traders I assume but as always need to know when to pull the trigger!

Hope to see you all next week! Good luck to all.
maybe this help paul:Uploading and Attaching Files
Files can be uploaded by clicking the green Upload accordion bar below the post that you are making. You can also attach previously uploaded files by clicking the green Attach accordion bar. This will expand and show a list of files that you have already uploaded. The file types that can be uploaded are: .jpeg, .jpg, .png, .bmp, .gif, .zip, .pdf, .doc, .swf, .fla, .txt, .rar, .xls, .xlsx, .xlsm, .xlsb, .xps, .efs
duck, thanks, but when I made comments I was in the quick reply box,
I actually used the EDIT button on my post and then found the area where I could drag the file containing the chart. It was a little confusing because the page that came up when I had hit the EDIT word actually said "create new topic" at the top of it, but by that time I was so frustrated I figured I'd just give it a shot.

How can I get to regular posts, not the quick reply?

Paul, up top select "reply to topic". that will give you the full menu and let you attach files
Originally posted by duck

paul what time frame you talking about to show former support?
ANSWER: I look for swing failures that are within 3 or 4 ticks of each other. and for the bigger moves, I prefer to see a lot of time in between the similarly priced swing failures. But they can be seen in shorter timeframes also.

on 1 min chart.. the 10.08am bar test 2110 then 1027am bar test it again
COMMENT, duck, it all depends on how often you want to trade. I looked at the bars you referred to, DO you know what the overnight High was? It was 2109.75... did you see what happened this morning about 9:50AM, once price started to move above that level (Overnight High is a reference price), there was a scramble, there were shorts caught and that was their UNCLE point, they had BUY Stops sitting there..(Overngiht High and Low are always reference points). so after that buy stop run, the market tested that 2115 area (this was it's first test, I only have confidence in first tests), price retreated 5 points Where did it go? ... besides having created Bruce "AIR" on that move up above the overnight High (2109.75), it is very common (especially with one sided trade like that 9:50AM Breakout bar) for price to retrace and test the breakout point...
LOOK at the volume on that bar you referenced at 10:27AM... OK, it didn't quite make it to the exact print of 2109.75 overnight High, the volume was HUGE it was defense volume... the bulls aren't letting it get below there for now. SO, yes, you can see it in short term time frame, but it is the swing failures separated by many hours that are more interesting to me
.

on 30 min chart..it test the 2102 at 1030am bar on tuesday. then test it again on wednesday at 1.00 am

did i answer it right?
why would anyone think your a jerk for asking question? also we arent on the clock..so take your time in answering does not have to be today.

You answered more than necessary... I was concerned with you blindly trading RATS. I wanted you to notice that horizontal red line running across the chart (those bars are 30 minute bars BTW)... that red line was the swing failure Lows, I positioned the line on the 2115.00 price...Notice on the right side of the chart, the first test of that 2115.00 level from below (2115 was support converted to possible resistance) that first test was worth 5 pts on a short, plenty of room to pick up 2 and a half pts.... I wanted you to try to understand that it is better to have a price point of interest near a RAT, and trade the price point of interest rather than trade a naked RAT.
yes new kid and you are right about having confluence.. today proves why you need it.

take care
duck