ES Day Trading 5-26-2011

ever get the feeling they "KNOW" your target...feeling like that now!!

that is 7 -30 minute bars with higher lows... a bit excessive.....as usual we don't know how far up they will push before the test of a previous 30 minute low

Looks like they just did it.

Originally posted by BruceM

that is 7 -30 minute bars with higher lows... a bit excessive.....as usual we don't know how far up they will push before the test of a previous 30 minute low

so lots of us want to see what happens if they can get under that last 30 minute low.....25 would be a perfect test ...oopps too late to post..that is me flat on all but one contract just in case they have a desire to retest 23.50....volume sits there...actually at 23.75

can never really be sure at this time of day...at least I can't perhaps YOU can... ade back tp 27.25 will take this away..

whew... I was singing the titanic song.

Originally posted by BruceM

ever get the feeling they "KNOW" your target...feeling like that now!!

yes Lorn..I think most don't see just how PURDY ( said in a slow southern drawl) that was....just beautiful

That's me flat at 23.75...

Originally posted by Lorn

Looks like they just did it.

Originally posted by BruceM

that is 7 -30 minute bars with higher lows... a bit excessive.....as usual we don't know how far up they will push before the test of a previous 30 minute low

it's not uncommon to be tortured on the final tic of an air pocket.......even more so when you have a trade on...LOL....like a freakin eternity some days.....next air pocket begins under 21.25 for those who are expecting the 23.75 volume to be digested by sellers....

Originally posted by TradeQueen

whew... I was singing the titanic song.

Originally posted by BruceM

ever get the feeling they "KNOW" your target...feeling like that now!!

the traders down there who bought into that volume node ideally want to target the outter edge of the distribution...that would be new highs and obviously would not want to see that come back down into 23.50 - 23.75 again...it's when they can't get the new highs and they start exiting you see those nice selloffs....

not saying that will happen but the concept is something to watch for...often they will exit at the new highs too... when you see the new highs but no follow thorugh....those traders have been satisfied and there are no new buyers for justifying a further rally...the market has run out of buyers so we sell off instead...buying pressure can't be sustained higher

Hey ES people......
Do you guys ever use this stretch model thing in your trading?
1. It identifies some pretty trade-able ranges
2. IDs the breakouts

Notice the 10am price surge at the green dotted line.....=close+stretch....(that is the Crabel stretch trade)

Pretty nice retracement trade on the lower stretch (red dotted)....

I was hanging with Hunter and using this on YM but the ES trades are making 30% more.....so ES is better for now.....made more than NQ too.

Does anybody ever use this concept (old concept)....looks attractive right? I've never seen anything this accurate on ES....

grednfer, quick question abt the levels of your stretch lines....looking at your chart you seem to have the close - stretch exactly at 312.5...how is that possible, yesterday's close was 316.5 and the stretch for today was abt 5.1, so that would have been 311.4 or so for the lower stretch...am i missing sthg ?

No Problem......
Methodlogies tend to be frameworks and understanding the lack of of tech at the time he probably used his thumb to guesstimate the 10 day moving average......oversimplfying I'm sure.

If you look at the chart.....does it look wrong? Or does it look very very right......it looks like that every day. This morning they were just backing up truck @1312-14 level.

His base method is very accurate....even some decades later....its works on everything I've pointed it at.....

Understanding the cycle is not crtical as each day is new.....but cycle position can increase probability of the event outcome.....if you review this week you'll see a cycle low with a
1. 2.618 long Night +11 then
2. 1.618 long Morn +18 then
3. 1 long then +15
4. tomorrow......we'll see right?....down cycle could begin again....but if you short a stretch failure you'll catch the big drop.