The week starts out 'interesting'. Gold is only a few cents from the 'magical' $1600 level. I think the only magical level is $10,000, and the musings on when that gets taken out. If it does, and the moves were proportional, that prices gas at the pump around $30/gal and crude around $400. Imagine food prices then. The Swissie is exploding, and the EUR/CHF just set another new record low, as parity is now the talk. And this has our futures down a whopping 1.75 points. Wow, pretty scary, the ES down 1.75 points.

Four pushes with overlapping swings, to a big KZ at a super-key line. Nice place for it to roll over. Still, my 'gut' says the gov comes in and guns it up tonight/tomorrow, and makes it all back and more...

Flow vs. Classic
Intraday, flow worked well for the notification of updates. You select (click) to be informed of updates. Then you get the green box telling you updates are available. You click and you see the updates. You are never aware of how many pages are being created. You don't ever have to page to next page because the updates show on your current page always.

If you did need to go back and page to look something up, that can be rather confusing. You have page navigation bars inserted but they can be hard to find -- I used the browser search function to find them. You may have 2 nav bars inserted so that is something to be aware of.

I think if the reader is catching up over several days of postings, classic view is going to work better. You can keep track of the sequence of posts easier in classic view.

If you want to get the update notice soon after a new posting was made, flow will work better.

Caution though: the notification request turns itself off any time you manually interfere with the page refresh. If you page to another page or hit the F5 key to refresh or even if you REPLY to a posting, all these actions turn off the update notification. You have to click again to turn it back on.

Update: Quick reply does not turn it off but all other forms do.

I should have posted this, but I didn't. IBM reports earnings, and beats in every aspect. The stock was down about a dollar. I wanted to post: 'No way, they will come in and gun it, watch and see'. I just checked the chart again and it is exploding big time.

Here's my usual look:

Here's my surprised look:

Great feedback, tx. Very helpful.

Originally posted by tx_ches

Flow vs. Classic
Intraday, flow worked well for the notification of updates. You select (click) to be informed of updates. Then you get the green box telling you updates are available. You click and you see the updates. You are never aware of how many pages are being created. You don't ever have to page to next page because the updates show on your current page always.

If you did need to go back and page to look something up, that can be rather confusing. You have page navigation bars inserted but they can be hard to find -- I used the browser search function to find them. You may have 2 nav bars inserted so that is something to be aware of.

I think if the reader is catching up over several days of postings, classic view is going to work better. You can keep track of the sequence of posts easier in classic view.

If you want to get the update notice soon after a new posting was made, flow will work better.

Caution though: the notification request turns itself off any time you manually interfere with the page refresh. If you page to another page or hit the F5 key to refresh or even if you REPLY to a posting, all these actions turn off the update notification. You have to click again to turn it back on.

Update: Quick reply does not turn it off but all other forms do.

ES opens back up on the IBM ramp and hits the second area. Once again:

Here's my usual look:

Here's my surprised look:

Originally posted by jimkane

First level below now hit.

Originally posted by jimkane

If this overcomes the bearish ABCD here my next levels are:

1300.25-.75

1302.00-3.75.

Now, do I think it will roll over off this area? No, I think they will announce some debt deal, or some nonsense out of Europe, and we will be up 20+ points by tomorrow, probably most of it before the open. Just a hunch.

Still interesting, though, how the high so far is 3.25, and it checks right back. Area stopped it dead, once again, as IBM pushes toward high for the move.

Originally posted by jimkane

ES opens back up on the IBM ramp and hits the second area. Once again:

Here's my usual look:

Here's my surprised look:

Originally posted by jimkane

First level below now hit.

Originally posted by jimkane

If this overcomes the bearish ABCD here my next levels are:

1300.25-.75

1302.00-3.75.

Notice, too, that this level would be a 'backtest' of the breakdown level going back to last Thursday. But the bigger picture, which I fully suspected last night, would be a breakdown off all that sideways 'consolidation', I figured to the 1.272 (it went to the 1.128 to the tick), and then big up, as that would finish it off. That's a big part of why I think it may go up. They got all the suckers on that 'stop run', and now it can go up. We'll see.

Originally posted by tx_ches

Here's a good way to do it:

Originally posted by rat89

ches, I'm a little fuzzy on the lightning trade - can you direct me back to the full example? I understood it, but don't feel I could explain it to another trader... thanks

Click image for original size

ches,

How do you get to this page?

Thanks,

Al Kamego

There's a link in Jim's forum links page for this particular search box.

Originally posted by albert
ches,

How do you get to this page?

Thanks,

Al Kamego

I guess what I am saying is that not every time price hits a line, or lines confluence and price hits them, it's an area that produces a potential trading edge. With experience one can make an attempt at filtering out these areas that just don't have the right look to them. I'm not really talking about subtle, almost invisible variations here, I'm talking about 'obviously has potential', and 'obviously looks totally wrong'. This is frequently something that can be seen by eye real easily, but is very, very hard to program into a computer. I wish I had a chart example off hand for you, but I don't.

Originally posted by tx_ches

Jim, what do you mean when you say "our eyes would say the geometry is not good." How can geometry be bad?

I'm not convinced the algo's are using the same median lines as roofer all the time. On the QQQ's, I drew 2 other sets before I saw roofer's set and even after I drew another set. So all together there were 4 sets with lines going into his areas. The algos could easily have programmed in 2 of them without using the more minor swing low that roofer used.

How heavily do you think the algos rely on measured moves? It seems like I see a lot of median line sets that capture a measured move. I wonder if that is what the algos key on when it is looking like they key on a median line set?