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2 Day ROC
- Thread starter skyfisherman
- Start date
here is a chart pertaining to the other setup i mentioned
it shows the Dow coming into the day, it will take a close above 10195 to maintain upward Mo
the bias for the day is down, simply meaning i look to be more aggressive on short scalps, but no guarantees
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=596871>
it shows the Dow coming into the day, it will take a close above 10195 to maintain upward Mo
the bias for the day is down, simply meaning i look to be more aggressive on short scalps, but no guarantees
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=596871>
a nice thing about the 2 per ROC is that its very simple to determine the # that will either maintain the current direction or turn it in the other direction
Day 1 = today's close
Day 2 = yesterday's close
Day 3 = close 2 days ago
then the # for tomorrow will be,
Pivot = Day 1 (-) Day3 (+) Day 2
coming into yesterday, the numbers for the Dow were,
Day 1 = 10123
Day 2 = 10065
Day 3 = 9993
Pivot = 10123 - 9993 + 10065 = 10195
the ROC had been up for 4 days, and to maintain the upward momentum it would take a close above 10195
since the Dow closed below that (10065), the ROC turned down
after watching it for a while, one can get the "feel" for when the market will really have to "reach" for the Pivot. and by knowing when the momentum is likely to turn, one can anticipate the movement, up or down, for the day
best to have 2 or 3 days in one direction before expecting the ROC to turn
there used to be some info about the 2 per ROC on the CME website, but can't seem to find it now, they're always changing things . . .
Day 1 = today's close
Day 2 = yesterday's close
Day 3 = close 2 days ago
then the # for tomorrow will be,
Pivot = Day 1 (-) Day3 (+) Day 2
coming into yesterday, the numbers for the Dow were,
Day 1 = 10123
Day 2 = 10065
Day 3 = 9993
Pivot = 10123 - 9993 + 10065 = 10195
the ROC had been up for 4 days, and to maintain the upward momentum it would take a close above 10195
since the Dow closed below that (10065), the ROC turned down
after watching it for a while, one can get the "feel" for when the market will really have to "reach" for the Pivot. and by knowing when the momentum is likely to turn, one can anticipate the movement, up or down, for the day
best to have 2 or 3 days in one direction before expecting the ROC to turn
there used to be some info about the 2 per ROC on the CME website, but can't seem to find it now, they're always changing things . . .
Thanks, thinskis !
This is the kind of insight I was originally hoping for.
Very helpful...please continue.
A little more about your thought process in determining a "bias" for the current/next trading day would be great. tia
skyfisherman
This is the kind of insight I was originally hoping for.
Very helpful...please continue.
A little more about your thought process in determining a "bias" for the current/next trading day would be great. tia
skyfisherman
Quote from skyfisherman:
Very helpful...please continue.
A little more about your thought process in determining a "bias" for the current/next trading day would be great. tia
skyfisherman
well, thanks for the encouragement, but everything posted so far is about the process of determining a "bias" for the next day
am i about to post everything i've learned from years of studying this "noisy" little line? not too likely . . . am i going to post setups in advance? no, this isn't a trading service
and if i did, it would do you little good, since there would be no effort involved on your part. the best way to learn about the ROC, if you have the interest, is do the calc each night and watch what happens on a daily basis. post charts of what you see setting up. ask questions about "your" interpretation. learning is an active process
okay, here's an interesting chart
its the hogs again, the hogs like the ROC
now what would be the reason for having an upward bias coming into today?
what was the pivot # we were watching to determine this?
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=601674>
its the hogs again, the hogs like the ROC
now what would be the reason for having an upward bias coming into today?
what was the pivot # we were watching to determine this?
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=601674>
Attachments
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=601728>
Pivot for 10/6 = 63.83
Pivot for 10/7 = 65.80Quote from thinskis:
a nice thing about the 2 per ROC is that its very simple to determine the # that will either maintain the current direction or turn it in the other direction
Day 1 = today's close
Day 2 = yesterday's close
Day 3 = close 2 days ago
then the # for tomorrow will be,
Pivot = Day 1 (-) Day3 (+) Day 2
. . .
Pivot for 10/6 = 63.83
Attachments
well, i would have never guessed we had such advanced readership . . .
yes, those are the #s, the one for today and the one for tomorrow
its a good idea to have some form of daily worksheet, to list for instance
O, H, L, C
position of the ROC
# of days in current direction
pivot # for tomorrow
putting things down on paper seems a bit out-dated in this day & age, but the pivot will have more meaning if you do this
so that is one question answered, now what was the reason for having an upward bias for today?
open to anyone . . .
yes, those are the #s, the one for today and the one for tomorrow
its a good idea to have some form of daily worksheet, to list for instance
O, H, L, C
position of the ROC
# of days in current direction
pivot # for tomorrow
putting things down on paper seems a bit out-dated in this day & age, but the pivot will have more meaning if you do this
so that is one question answered, now what was the reason for having an upward bias for today?
open to anyone . . .