Search results

I maintain spreadsheets of data for contracts that I trade. It only takes a second at the end of the day to put in the date, high, low and close data. Attached is a slimmed down version of the spreadsheet that I maintain. Enjoy. Charles

I'll try to be less objective. Don't worry. There is an evil side of me that loves to gamble also. I try to put that sucker in a locked box, but it escapes from time to time. Charles

It's an excellent book list. I also have a fondness for "How I Made $2,000,000 in the Stock Market", by Nicolas Darvas. I really like the part where he went to New York to be closer to the market. He believed that he could become a better trader by being near the action and the "so called"...

One other thing that I have noticed on the 60 min charts, is that the market does not like to travel too, too far from the 38 period EMA, even when in the transition zones. For some reason, the market will trade back to that EMA before continuing its short term trend. Charles

So, on Friday, we knew that we were on the lower part of the 60 min wave. Your thoughts should be looking for evidence that the market wants to correct to the upside. After spending a good part of the morning in the strong consolidation zone of the 60 min wave, the market started to make higher...

Since intraday trading is very difficult, any evidence of short term market sentiment will be beneficial. You should make it a habit of looking at longer time frames to get a sense of that sentiment. Some truths that have taken me a long time to learn. 1. The market likes to travel in...

One more

Another

I also like the wedge breaks in the middle or late day market activity. I'll post several charts to show what I mean. Hope that you don't mind that they are ES charts, since that is what I have on file. The YM and ES markets typically form similar formations throughout the day. I like what...

Some Additional explanations of Value Area. 1. The High Volume Price (blue line) is a point of market equilibrium. This is where you have an equal number of buyers and sellers - essentially. 2. The Value Area Range is basically 1 standard deviatiion of that equilibrium. Market activity...

Yes and no. I use it for day trading purposes, but as you see in my last post, it can also be used for longer term analysis. Charles

Well, you now have me wanting to look at this Value Area thing in more detail. The High Volume Buying Range of 1217.5 to 1214.75 occurred over a three day period. That is a lot of buying volume. Lots of support! The High Volume Selling Zone between 1227.75 to 1225.75 occurred over just one...

The new Value Area is 1220.75 - 1215.25. The high volume price for Friday was 1217 (blue line). With the high volume price at the bottom of the range idicates that there is a large shelf of support in the 1217 to 1215.25 range. Notice how the market settled on top of the Value Area Range at the...

It is interesting how the market will key off of this range from time to time. I made a snap shot on 9/20/05 after the FOMC announcement. Look how the market traded down to the lower range of the Value Area, then tested the upper range, and then broke through the lower range to end-up at the...

Also broke to the upside of yesterday's Value Area (Price Range of 70% of Yesterday's Volume). Typically bullish. Charles

And an interesting wedge on ES Daily Closing Price Chart. I guess that anything can happen. Charles

Interesting resistance line on ES 30 min chart Charles

I think that we are posting at the same time. I'm a little cautious. I wait for the test bar to be complete and see a tick trade just below the test bar body. Aggressive traders may fade the test bar during the formation of the bar. It also depends on your time frame. Most of the charts in...

Trading is diffenently not easy. Comes with experience. People have to remember that trading is s numbers game. The trick is to try to find a way to put the probabilities in your favor. Sometime you win, and sometimes you lose. Try to win more than losing. You have to find the trade that...

I'll add that I like to see the market show some sign that it will continue the trend after the pivot has been tested. I good place to place the trade is the high or low of the test bar body. If the market moves in your direction, it will be after the test bar is complete. Charles