JA
jarek
Rep: 94
Posts: 3,474
Welcome back everybody! I just returned for a one week break between my holidays and thought it won't be bad if I share some charts Here is the update of my daily ES chart:
AL
albert
Rep: 99
Posts: 3,094
Originally posted by albert
Here is an opening gap on GLD, not quite "before the fact." 0.954 fibo, 1.272 fibo, and SL touch. I also added SL using midgap point, although I do not know if that is Kosher. Expect price to rise to about 157.73. rrr would be 4.00
Al Kamego
Click image for original size
Click image for original size
Followup on my previous post on GLD. Price got to initial ML target area without touching Sell Stop point which was at 156.51. I can show the calculations if anyone wants to see them.
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Al Kamego
RA
rat89
Rep: 0
Posts: 7,015
I was out all afternoon, took the pop and exited at the bear abcd at .382
but here is the .886 just before the close
is this tradeable?
watching for 82.01 - 81.96 if not
but here is the .886 just before the close
is this tradeable?
watching for 82.01 - 81.96 if not
Click image for original size
Click image for original size
TX
tx_ches
Rep: -10
Posts: 514
Thanks, Jim. I'm sorry my post was confusing.
What I meant to say was that Joed gave me some very good constructive advice to prevent me from spinning my wheels endlessly. That is also what you seem to be saying -- that people post setups all the time and you cannot tell from that type of post if they are progressing at all in their trading career.
I do get something from the same setup being posted over and over. I try to look at how they drew the median lines. I look to see if I can see the same abcd that they see, when applicable. I look to see if I can see something they missed like a spike line. I look at the setup in a different time frame for a different perspective. So for me, seeing the same setup is not boring and tedious. But I would love to be advanced enough that it is!
I think those of us active in the forum have a goal to advance. Even roofer seems to be advancing - based on his references to the elliott wave trader - despite roofer saying in the past he knows elliott wave well.
I would love to step up my own posts a notch because it would mean I am also stepping up my own trading a notch. Your idea/goal is great and is going to motivate me to get to that level where I can do those type of posts -- and it ain't happening overnight or next week.
What I meant to say was that Joed gave me some very good constructive advice to prevent me from spinning my wheels endlessly. That is also what you seem to be saying -- that people post setups all the time and you cannot tell from that type of post if they are progressing at all in their trading career.
I do get something from the same setup being posted over and over. I try to look at how they drew the median lines. I look to see if I can see the same abcd that they see, when applicable. I look to see if I can see something they missed like a spike line. I look at the setup in a different time frame for a different perspective. So for me, seeing the same setup is not boring and tedious. But I would love to be advanced enough that it is!
I think those of us active in the forum have a goal to advance. Even roofer seems to be advancing - based on his references to the elliott wave trader - despite roofer saying in the past he knows elliott wave well.
I would love to step up my own posts a notch because it would mean I am also stepping up my own trading a notch. Your idea/goal is great and is going to motivate me to get to that level where I can do those type of posts -- and it ain't happening overnight or next week.
RO
roofer
Rep: 3,689
Posts: 3,574
jim is making very good points... much of what is being discussed has been covered in detail in articles at www.stockbee.blogspot .com... my favorites are'' understanding procedural memory'' which i think jim is better at than me.... and my obvious favorite'' why setup selection is key to cognitive overload'''... i have simply accepted the fact that my brain works best at seeing setups. re elliot.. i could sit down and write out every rule from memory.. i know it cold... but i have accepted the fact that i can not see it in real time. if you can't see it in real time , you can't trade it...i have looked for years for an elliot person who is the tools.. i have found one... so i let him do the work... if he says this is key pivot, i expect there to be a computer signal....pretty simple... and right now in my broken state i need simple...hey at least i got ches and rat to join us here... without their valuable participation, i would guess this forum might have closed already...
JI
jimkane
Rep: 3,058
Posts: 33,089
Gold sets another new all-time high, and looks ready for the next leg. Recall my posted areas on that one. The Swissie is flirting with another new all-time high again, after setting a slew of them in short order. It looks ready to launch, too.
JI
jimkane
Rep: 3,058
Posts: 33,089
If the ES heads down in any meaningful way (like that could happen...), I have two levels I am particularly interested in, 96.25-98.75 and 80.25-84.50, give or take. I could refine it more if it gets anywhere near there. The lines at the lower area are just insane, including 'retests' of the key longer-term lines that sent this up on the historic rocket run.
In the meantime I'd be watching the key .447 right in here at a key natural set line, and the ABCD down lower (the 1.000 is at 14.50). And like I said, not that I expect any real downside. Still, I can dream, and maybe they decide to take it down for better prices while there is still some debt drama, then they reach a deal and it goes up like we've never seen before, from a sweet 'W2' ABCD back at long-term 'support'. They get their better prices and a wicked launchpad off 'news'. You never know...
In the meantime I'd be watching the key .447 right in here at a key natural set line, and the ABCD down lower (the 1.000 is at 14.50). And like I said, not that I expect any real downside. Still, I can dream, and maybe they decide to take it down for better prices while there is still some debt drama, then they reach a deal and it goes up like we've never seen before, from a sweet 'W2' ABCD back at long-term 'support'. They get their better prices and a wicked launchpad off 'news'. You never know...
JI
jimkane
Rep: 3,058
Posts: 33,089
Let's follow up on this. Go to the time shown below on your ES all-sessions chart. The ES was around 1290. It rose from there to 1294.50. Note the first level posted below. It then began to drop. It did a very typical 'W1' first move (my mentor students would know just how typical this was, but that is not necessary information for this example), a nice 'W2' pullback, and then headed back down, hitting a new low for the move at 1278.50. That was a drop of 16 points off the area posted.
Although I didn't post this because it was the middle of the night for me, my key level once this started to sell off was hit within one tick of the center of my grouping level (and the small bounce on the way down was also at an area I'd expect that from). The bounce up after of 22.25 points was right between my two most critical lines (do an obvious TL!). Just amazing, to put it mildly. So, once again, the same point. How, of all the places on the chart this could have risen to and then sold off hard from, why, again, was it one of the levels I posted (in advance, of course)?
Now, I am not saying this is a panacea, or a way to riches. Everyone who has followed me for any length of time knows I am not even hinting at that. I don't know which level, if any, this will respect. I have to have an idea what I think will happen so that I know where I may trade, and on what side. This takes experience. And as I've said, the setup is only 10%-20% of my 'Trading Plan'. But, if one can't see these levels in advance like I do, it's one part of the 'Trading Plan', a critical part, that is missing, and needs to be sorted out.
I will say, as an aside, I just can't let go of the bad experience I had out in the public area. So many jumping on the bandwagon, attacking me, wondering what my agenda was. How about this for an agenda: I seem to be able to find some key levels, in advance, on a repeatable basis and I want to share this with people. If you really want the details, I want at least a token, nominal amount for the books, which took me an incredible amount of time to write.
If you look at how many hours they took me, and how many I've sold, I think I've made like $10 an hour, or less (it's just a guess, I'm not sure what it really is). So, it's likely my motivation wasn't purely financial in writing them, huh? All I ask is to at least give me my $10/hour for my effort, and then I'll show you a big chunk of what has taken me just about 40,000 hours now to develop.
But, no, they hammered me for being a shill, and decided that it isn't worth looking at my work. Now I post the levels in here, for free, they get reactions over and over and over, and I'm willing to answer questions on how this is done so anyone can try to duplicate the work. And out there, they have no clue as to what we do. And they don't want to know. And they go on hating, patrolling the forum for 'people like me', making sure they are crushed and driven out. They are very good at what they do; they've succeeded. And we will keep on posting in here, stuff that, to me, seems so good it can't even be real. I guess they won, huh?
(Let me mention that none of the above comments are meant to in any way reflect badly upon Guy, the forum owner. He's between a rock and a hard spot in situations like this, in that he has to let people express their opinions to a point, or he will be seen as too overbearing. Give people freedom, but not too much freedom. It's a tough job.
I lay all the 'blame', 100%, on the handful of 'haters' out there who have an agenda that has little to do with finding truly valuable information, even if it costs, and more about proving the point that anything of value must be free (good luck with that one...), and that anyone who disagrees, or won't acquiesce to their 'authority' in their threads on this, must be driven out.)
Although I didn't post this because it was the middle of the night for me, my key level once this started to sell off was hit within one tick of the center of my grouping level (and the small bounce on the way down was also at an area I'd expect that from). The bounce up after of 22.25 points was right between my two most critical lines (do an obvious TL!). Just amazing, to put it mildly. So, once again, the same point. How, of all the places on the chart this could have risen to and then sold off hard from, why, again, was it one of the levels I posted (in advance, of course)?
Now, I am not saying this is a panacea, or a way to riches. Everyone who has followed me for any length of time knows I am not even hinting at that. I don't know which level, if any, this will respect. I have to have an idea what I think will happen so that I know where I may trade, and on what side. This takes experience. And as I've said, the setup is only 10%-20% of my 'Trading Plan'. But, if one can't see these levels in advance like I do, it's one part of the 'Trading Plan', a critical part, that is missing, and needs to be sorted out.
I will say, as an aside, I just can't let go of the bad experience I had out in the public area. So many jumping on the bandwagon, attacking me, wondering what my agenda was. How about this for an agenda: I seem to be able to find some key levels, in advance, on a repeatable basis and I want to share this with people. If you really want the details, I want at least a token, nominal amount for the books, which took me an incredible amount of time to write.
If you look at how many hours they took me, and how many I've sold, I think I've made like $10 an hour, or less (it's just a guess, I'm not sure what it really is). So, it's likely my motivation wasn't purely financial in writing them, huh? All I ask is to at least give me my $10/hour for my effort, and then I'll show you a big chunk of what has taken me just about 40,000 hours now to develop.
But, no, they hammered me for being a shill, and decided that it isn't worth looking at my work. Now I post the levels in here, for free, they get reactions over and over and over, and I'm willing to answer questions on how this is done so anyone can try to duplicate the work. And out there, they have no clue as to what we do. And they don't want to know. And they go on hating, patrolling the forum for 'people like me', making sure they are crushed and driven out. They are very good at what they do; they've succeeded. And we will keep on posting in here, stuff that, to me, seems so good it can't even be real. I guess they won, huh?
(Let me mention that none of the above comments are meant to in any way reflect badly upon Guy, the forum owner. He's between a rock and a hard spot in situations like this, in that he has to let people express their opinions to a point, or he will be seen as too overbearing. Give people freedom, but not too much freedom. It's a tough job.
I lay all the 'blame', 100%, on the handful of 'haters' out there who have an agenda that has little to do with finding truly valuable information, even if it costs, and more about proving the point that anything of value must be free (good luck with that one...), and that anyone who disagrees, or won't acquiesce to their 'authority' in their threads on this, must be driven out.)
Posted-07/29/2011 : 02:07:00
Originally posted by jimkane
Upside levels, short-term, in case we need them, are:
94.50-95.00 (.447 is at 96.41, 1.000 ABCD at 93.50, so in there somewhere?)
98.75-99.00
1303.50-4.75
Center of the areas, as usual. And I think we may be needing them, sooner than one might think...