Jim,
I haven't posted much during active trading but i do see all the ping pong action from lines to lines ,wich is awesome.I don't mean to brag but I held SPY calls(july) from tuesday pm where ES has triggered a swing trade,entry @91.5 and still holding. I did not give in into the harsh 'after fed' sell-off. That was tough heat to bear but im still there. The late pm action gave plenty of clues for a hold calls and even bullish futures play , namely the short lived TD pattern setup wich reacted initially, went to test the pattern set ML without taking out the C pt low level, it then proceedd to pop up from there and the tape action was clear to me.From a side note, one of the reason tuesday's trigger was legit worth a shot was because: first the .236 PTA grouping with geometry synergy etc And there was evidence of accumulation ,to me, seen from the breadth/sentiment indicators.The TRIN was printing below 1.0 level all day while the price action was active but contained ,or at least it wasn't a clear bullish trend day.That's an early divergence clue not yet confirmed/refuted by price.But next, in the Globex night session and wednesday AM , they began the mark up. That second shift team ,as u've called them, in effect went to work, Jim. That's why i don't get to sleep much when I feel we are sitting at a potential turning point. The 'sell the feds' action was a clear 'shake out' program designed to keep the crowd away.The FOMC statements was evidently positively bullish, yet it sold off hard,and off a technically visible area too.Ah maybe the daytime shift team came back and sold their marked up stake(thanks night team) into a hungry buying crowd volume,then the selling bunch started their mini-panic/stops-sweeping rollover. That, was the first round of profit taking and the 'shake out' phase. Now, the right before close and night Globex action suggest another accumulation then mark up activities. Man those guys are good and effective indeed. Can't catch them. the right play was tuesday pm off the lows into the PTA test.
All that 'conspiracy theory' talk I am doing in the above text is to describe market behavior or tendency that I find useful. The idea is that when a big heavy handed market player wants to act, they choose to do so at a precisely calculated area where their risk is minimal. These areas where they may come in can be accurately found ahead of time using various tools and methods. It is up to the trader to make the right decisions at the right time. The 'big' player I am talking about can be one entity with large size to trade or it can be multiple entities with a same agenda of various size acting at once. They may trade 'stealthily' with hidden volume using deception tactics etc... but the goal remains the same: to 'get position' on their opponents. That's the timing edge that is so difficult for most traders to find and in our KT world that's the 'in advance' setups and PTAs.
enough typing for me tonight...seeya!

Regards

t- i have been in a funk lately.i spent a great deal of time here trying to show the trader craft the details of what i do only to have craft leave us here and become a MENTOR at mg.at the same time i have gone to lengths to show my 3 algo's at mg only to have traders not do the work to even understand the basics.....no one was posting trades.... theory only... so i took what tim had been emphasizing lately... market structure, REPEATED failure at .382, waiting to look for sell after upper line reached( in this case on 3 sets), selling retest of retest at x marks the spot.... only then did i make another post showing how the 1.618/1.00 algo had been in place since 2pm tues and it was simply a matter to see if price, geometry,and algo came together on pivot... and there it was

thanks Roofer,
awesome charts!..not much to comment about on my part but just wondering if u also apply ur methods on all session charts too?

quote:

---

Originally posted by TonyC

Jim,
I haven't posted much during active trading but i do see all the ping pong action from lines to lines ,wich is awesome.I don't mean to brag but I held SPY calls(july) from tuesday pm where ES has triggered a swing trade,entry @91.5 and still holding. I did not give in into the harsh 'after fed' sell-off. That was tough heat to bear but im still there. The late pm action gave plenty of clues for a hold calls and even bullish futures play , namely the short lived TD pattern setup wich reacted initially, went to test the pattern set ML without taking out the C pt low level, it then proceedd to pop up from there and the tape action was clear to me.From a side note, one of the reason tuesday's trigger was legit worth a shot was because: first the .236 PTA grouping with geometry synergy etc And there was evidence of accumulation ,to me, seen from the breadth/sentiment indicators.The TRIN was printing below 1.0 level all day while the price action was active but contained ,or at least it wasn't a clear bullish trend day.That's an early divergence clue not yet confirmed/refuted by price.But next, in the Globex night session and wednesday AM , they began the mark up. That second shift team ,as u've called them, in effect went to work, Jim. That's why i don't get to sleep much when I feel we are sitting at a potential turning point. The 'sell the feds' action was a clear 'shake out' program designed to keep the crowd away.The FOMC statements was evidently positively bullish, yet it sold off hard,and off a technically visible area too.Ah maybe the daytime shift team came back and sold their marked up stake(thanks night team) into a hungry buying crowd volume,then the selling bunch started their mini-panic/stops-sweeping rollover. That, was the first round of profit taking and the 'shake out' phase. Now, the right before close and night Globex action suggest another accumulation then mark up activities. Man those guys are good and effective indeed. Can't catch them. the right play was tuesday pm off the lows into the PTA test.
All that 'conspiracy theory' talk I am doing in the above text is to describe market behavior or tendency that I find useful. The idea is that when a big heavy handed market player wants to act, they choose to do so at a precisely calculated area where their risk is minimal. These areas where they may come in can be accurately found ahead of time using various tools and methods. It is up to the trader to make the right decisions at the right time. The 'big' player I am talking about can be one entity with large size to trade or it can be multiple entities with a same agenda of various size acting at once. They may trade 'stealthily' with hidden volume using deception tactics etc... but the goal remains the same: to 'get position' on their opponents. That's the timing edge that is so difficult for most traders to find and in our KT world that's the 'in advance' setups and PTAs.
enough typing for me tonight...seeya!

Regards

---

Hey T, I agree with everything you've said. I mentioned that call play offhand in the thread somewhere, and I wish I would have detailed it. It was a major area around 884 I mentioned in advance, and I have like 5-6 key lines there, with structure and key fibs. I was put side into that, then got call triggered. My style was 1/2 off when it rolled Wed AM, and 1/2 still riding. This is a crucial area here, though, it must take out. I see a battle royale for that high not to be an intermediate top, and we are in the middle of the battleground right now, in my opinion. I am willing to play both sides as the setups dictate, but my assumption/premise is the top is in until they prove otherwise. That doesn't mean I might not be 100% long in here, only that my working premise is anything up is a correction on the way down. When the structure refutes that, my premise will change. If I'm long and it gets refuted, I'm already positioned. The reason I want the premise is if my premise is we are still in a bull uptrend I would be passing any short setups for anything but very short intraday timeframes, and I don't see that as the best premise for me right now. We'll see. And yes, the games at night are unreal. I am not sleeping much, I'll tell you that...

And as an addendum, this is getting really close to getting me put triggered in here. Super-critical time...

That was close, but they came in right where they needed to such that the put side didn't trigger, and the calls stayed on. Could be a nice monster pop tomorrow on those.

quote:

---

Originally posted by roofer

t- i have been in a funk lately.i spent a great deal of time here trying to show the trader craft the details of what i do only to have craft leave us here and become a MENTOR at mg...

---

I can see this bothers you, roofer, but craft seems like a guy of high integrity, hence as you mentioned elsewhere, he won't be showing or teaching any of our work, so I wouldn't let it bother you. As far as people not doing the work and so on, that's what I've been saying for years. I'm to the point that I just don't care, it's a losing battle. They don't care, so why should we?