I thought I'd create a new topic and try something out and see if it seems beneficial to everyone. I'll try to post every day or so the times that setups completed that I thought were good based on the methodology. I will only do posts for times for 3-minute or higher timeframe setups. If the setup is on a 1-min or 2-min but could be used as an entry setup for a higher timeframe bias I may mention those, too.
The idea here is to point out the completion points for setups I thought were acceptable so everyone can make sure they see the setup, and go back and do the work, perhaps working through how they might have entered, managed, and so on. Mostly, though, it is to give everyone a chance to see the places I thought were the best setups on a given day based on my application of the methodology. Some will not have 'played out', but were still worth looking at.
One more point. These are not necessarily going to be areas I traded off of, they are going to be areas I thought were good enough to be looking at. I am not implying I traded them. I may have, or may not have, but that will be independent of whether I list them here. I want to give everyone a chance to 'start to see' the areas I think are the ones that best fit the methodology.
Most of these will be ABCD's, even though I will sometimes find areas that have enough for me to consider them without the ABCD. As I generally say to my students 'The ABCD is the 'hub of the wheel', the center point of where I start.' I suggest until one has the methodology down cold, start everything with the ABCD. I may, though, throw in a few setup times where other factors contribute to the area (like POC, pivots, GLOBEX points, and so on) such that some of the usual KT factors may be less.
As you will soon see, the posts will be in a format something like this, of course subject to any improvements I discover as I try this:
March XX, 2009
10:34 AM EXP ABCD, 3-min
Any thoughts or suggestions welcome.
JI
jimkane
Rep: 3,058
Posts: 33,089
I've been getting a lot of positive feedback as far as this daily synopsis helping people out quite a bit, so as long as I can do the 'M' streamlined version, I'll try to keep it going for awhile.
4/22/09
9:32 L: Trigger pattern: 1-min EXP on GLOBEX, setup: non-GLOBEX lower //, awesome standard set lower //, .486, 1.272, GLOBEX low area, possible POC and DP stop sweep.
9:50 L: Second chance. .886 (within one tick) gap retest, right back at that same lower //. Notice how the bounce up was right to the ML of that standard set. Fantastic action.
11:11 L: This was a marginal setup. This was obviously a consolidation pattern, and perhaps a psuedo-FLAT, with ABCD in BC leg, that went to a 1.128, .236, ML, and did 3 pushes into area (wasn't a true 3D because it wasn't descending steep enough).
11:47 S: Hit that .685 (to the tick) and upper // of that big downsloping adjusted set mentioned before, the one the last reaction came off the upper division line. I mentioned this area in the public KT area in the rising wedge post. Also had the key uptrendling line from the wedge testing from below here, and some other things.
12:53 L: Lower // with offset line, division line of set from first setup, .300 (I used the GLOBEX low, and it overshot by one point), .564. Assumption it may not like trading back in GLOBEX range for long on a strong up bias day.
13:11-12 L: Second chance for last setup. Mini-ABCD, .886.
14:00 L: 1.460 pseudo-ABCD, .618, lower //. Add-on spot, or a third chance.
14:42 S: Back to the key area from before. .886 ABCD from low on 21st. Hit that uptrending line again from the wedge. 1.128, 1.902, push above upper // from set for last setup.
15:00-01 L: .382, lower //, standard set ML dead there, and another Fib technique I haven't covered that hit right there. There was also another 'adjusted' set with a ML in there. 15:00 possible buy program time.
15:13 S: One more try at that area, and another 'one-tick' high, just like the last two from 4/16 and 4/17 that they sold from. SL.
15:35 S: I'm listing this because it was cool, for those that like to study price action on tick charts. Study this on say a 13-tick chart. This was the 'W2', in the form of a consolidation pattern. It was chaotic, and oscillating, but they first swept the stops down, then up, but it failed to break up then, and I was looking for a trigger to the downside, which it gave beautifully. Keep in mind, if I was triggered short off the last setup I'd be riding through this here in almost every case, but as an add-on or if I wanted more confirmation for the short side and I had waited until now, this was a great way in. Today I read it as the latter given it was the third try at the key area, as I was wary of the short side with all this strength.
On the last short setup I was expecting the 35 area, and posted it live in a chat over and over. I thought they would shoot for a new RTH and GLOBEX LOD, and they one ticked it! Got it one tick below, 835.25! If you look hard you will see a very cool downsloping set on say a 1-min chart that is 'locked' with an inner division line and an outer division line, it's a wide set, and if the low was right at your lower //, you probably have the same set. With the LOD and GLOBEX low run and that line (among other things), that is why I suspected they'd hit the spot they did. It was truly classic, and truly dazzling. I hope you can all find the set I'm speaking of.
I considered today as one of the best trading days I have seen, as far as KT areas and how it behaved. It wasn't great for obvious, clean ABCD's, but it behaved fantastically.
4/22/09
9:32 L: Trigger pattern: 1-min EXP on GLOBEX, setup: non-GLOBEX lower //, awesome standard set lower //, .486, 1.272, GLOBEX low area, possible POC and DP stop sweep.
9:50 L: Second chance. .886 (within one tick) gap retest, right back at that same lower //. Notice how the bounce up was right to the ML of that standard set. Fantastic action.
11:11 L: This was a marginal setup. This was obviously a consolidation pattern, and perhaps a psuedo-FLAT, with ABCD in BC leg, that went to a 1.128, .236, ML, and did 3 pushes into area (wasn't a true 3D because it wasn't descending steep enough).
11:47 S: Hit that .685 (to the tick) and upper // of that big downsloping adjusted set mentioned before, the one the last reaction came off the upper division line. I mentioned this area in the public KT area in the rising wedge post. Also had the key uptrendling line from the wedge testing from below here, and some other things.
12:53 L: Lower // with offset line, division line of set from first setup, .300 (I used the GLOBEX low, and it overshot by one point), .564. Assumption it may not like trading back in GLOBEX range for long on a strong up bias day.
13:11-12 L: Second chance for last setup. Mini-ABCD, .886.
14:00 L: 1.460 pseudo-ABCD, .618, lower //. Add-on spot, or a third chance.
14:42 S: Back to the key area from before. .886 ABCD from low on 21st. Hit that uptrending line again from the wedge. 1.128, 1.902, push above upper // from set for last setup.
15:00-01 L: .382, lower //, standard set ML dead there, and another Fib technique I haven't covered that hit right there. There was also another 'adjusted' set with a ML in there. 15:00 possible buy program time.
15:13 S: One more try at that area, and another 'one-tick' high, just like the last two from 4/16 and 4/17 that they sold from. SL.
15:35 S: I'm listing this because it was cool, for those that like to study price action on tick charts. Study this on say a 13-tick chart. This was the 'W2', in the form of a consolidation pattern. It was chaotic, and oscillating, but they first swept the stops down, then up, but it failed to break up then, and I was looking for a trigger to the downside, which it gave beautifully. Keep in mind, if I was triggered short off the last setup I'd be riding through this here in almost every case, but as an add-on or if I wanted more confirmation for the short side and I had waited until now, this was a great way in. Today I read it as the latter given it was the third try at the key area, as I was wary of the short side with all this strength.
On the last short setup I was expecting the 35 area, and posted it live in a chat over and over. I thought they would shoot for a new RTH and GLOBEX LOD, and they one ticked it! Got it one tick below, 835.25! If you look hard you will see a very cool downsloping set on say a 1-min chart that is 'locked' with an inner division line and an outer division line, it's a wide set, and if the low was right at your lower //, you probably have the same set. With the LOD and GLOBEX low run and that line (among other things), that is why I suspected they'd hit the spot they did. It was truly classic, and truly dazzling. I hope you can all find the set I'm speaking of.
I considered today as one of the best trading days I have seen, as far as KT areas and how it behaved. It wasn't great for obvious, clean ABCD's, but it behaved fantastically.
JI
jimkane
Rep: 3,058
Posts: 33,089
So much for the steamlined version. When a day is this complex, it is almost impossible for me to do anything in less than a full hour or more...
JI
jimkane
Rep: 3,058
Posts: 33,089
No synopsis for 4/23/09. It was a pretty good day, but after that long synopsis yesterday, I just don't feel like doing one today. The clear setups are obvious, like that awesome TD at 10:36, so everyone should be able to see those, and anything else I could add would run me into another post like the last one. We'll see what kind of day tomorrow is, and if I am up for doing a synopsis for that.
JI
jimkane
Rep: 3,058
Posts: 33,089
I'm not going to write up 4/24/09, either. I'll try to start fresh this week again.
JI
jimkane
Rep: 3,058
Posts: 33,089
I'm still not feeling up to writing these up. As soon as I do, I'll start again. Hard to get motivated again after stopping...
JI
jimkane
Rep: 3,058
Posts: 33,089
As mentioned elsewhere, I will try to post to this topic most every day, giving only the times where I saw something come together. Hopefully this will be supplemented with some notes from the daily ES section, when I have the juice to post in there. The purpose is to give everyone the spots to 'reverse engineer' the setups and do the work specifically in the areas where I saw something.
10:00 S
10:48-50 L (11:06-07 flat second shot)
11:52-53 L (or add-on)
12:43-45 S
13:32 L
10:00 S
10:48-50 L (11:06-07 flat second shot)
11:52-53 L (or add-on)
12:43-45 S
13:32 L
JI
jimkane
Rep: 3,058
Posts: 33,089
No problem. Also, I didn't include it, but look at 15:32 L and the set line for that. Dead exact to the tick.
JI
jimkane
Rep: 3,058
Posts: 33,089
Right before the open there is something, but this one is tricky.
10:12 L
10:39 S
11:58-12:00 L, but I didn't like this, as the better spot was below (look at GLOBEX, too)
12:38-40 S scalp to next area
13:06-09 L
14:34 L (add-on or reentry if this shook one out)
10:12 L
10:39 S
11:58-12:00 L, but I didn't like this, as the better spot was below (look at GLOBEX, too)
12:38-40 S scalp to next area
13:06-09 L
14:34 L (add-on or reentry if this shook one out)
JI
jimkane
Rep: 3,058
Posts: 33,089
Again, for those new to the forum, the times above are the reversal times at areas I saw something. My trigger, if I get one, is after that point, of course. I am not listing the trades I took, I am listing most of the areas that I found the most interesting to me before the action unfolded. Some areas that might look obvious aren't there, like 14:06 S. Do the most important set for that and you'll see why it started to react there. Why didn't I list this one? 'Context', the IB, the VAL, and so on had me thinking up until close at that point. If something looks good to me and it doesn't play out I will add the new term 'DPO' (didn't play out) after it and include it. If 'context' tells me no I won't list the area, since I wouldn't be considering it.