Adventures in the garden of good and evil

No more dV signals but in order to break free of the LM, price must close above the upper pole of the first bar of the formation, on increasing up volume. Close but no cigar. The wait continues.

lj

Edit: At times like this it can be beneficial to look at the slower time fractals (15 min, 30 min, 60 min) to look for possible clues. One does not use these as trading fractals unless you have lots and lots of money, are lazy and can tolerate big swings - like the BSD's.
 
Quote from ljyoung:

No more dV signals but in order to break free of the LM, price must close above the upper pole of the first bar of the formation, on increasing up volume. Close but no cigar. The wait continues.

lj

Edit: At times like this it can be beneficial to look at the slower time fractals (15 min, 30 min, 60 min) to look for possible clues. One does not use these as trading fractals unless you have lots and lots of money, are lazy and can tolerate big swings - like the BSD's.
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Just a brief question. Why do you call those time periods "fractals"? What is the point of introducing J.H. gibberish to an otherwise simple idea.
 
Quote from piezoe:

Just a brief question. Why do you call those time periods "fractals"? What is the point of introducing J.H. gibberish to an otherwise simple idea.
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Fractals, although used by JH are not his creation and have been around since Mandelbrot came up with the phrase a few years ago (from Wikpedia):

A fractal is generally "a rough or fragmented geometric shape that can be split into parts, each of which is (at least approximately) a reduced-size copy of the whole,"[1] a property called self-similarity. The term was coined by Benoît Mandelbrot in 1975 and was derived from the Latin fractus meaning "broken" or "fractured."

For traders, if some trading probe or method is fractal, then it works on all time frames with the caveat that there must be sufficient liquidity (this gets rid of pump and dump crap). If your trading method isn't of a fractal nature then you'd be best not to use it.

lj
 
Overnight 'dynamic' IBGS's (bar makes a higher high but then is being closing below its open) on both ES and YM with price currently near the ON low. Selling ON began with the Japanese and continued with the Brits but it isn't 'impressive' (no large volumes) and doesn't seem to be bothering anyone (no large swings in price or, not unexpectedly, in volatility). Gap down opening (probably but there's still 16 min) and so me hangin' and watchin'.

A little Beck to get all the traders in the right mood:

http://www.youtube.com/watch?v=TJN3PGqDRNg

This is my song babee.
 
Is this goy tooooo sharp, nailing that OG? So now the PA crew is closely watching horizontal lines in da sand. Ooops - ON low penetrated and now what? for the PA crew that is. Hershey traders ± their personal schmeer* (yes I do believe that's OK) already kenow. And dat be dat.

lj

*When in Vancouver, Siegel's be the best place for bagels.
 
Gotta know what this boy's primary source of nutrition is.

Hts (short for Hershey traders) have a wide variety of implements for bringing Mr. Market to heel. They range from a kendo sword http://www.youtube.com/watch?v=Q4SHWXQBVL4 (read the commentary, newb) to a nice selection of surgical instruments. I like a #10 scalpel blade (look it up, newb).

So instead of the SSDD stuff (this dude suffers from a nasty case of pit bull (=attack dog. Rx = 357 magnum) perseveration (again, look it up, newb), post some calls using just the 5 min ES (price and volume if you wish) indicating what the next bar is going to do and do it before the close of the bar prior to the next bar. Comprends tu?

But what if the market ,she is a woman. Then you don't beat her but rather you go dancing. I tried, in keeping with the gaigin Japan tone of the post, to find a clip from "Shall We Dansu? (1996) but failed, so this will serve as a replacement http://www.youtube.com/watch?v=6z4ZWK2ycMQ&feature=related. Yul unt Deborah. He also of "The Magnificent Seven", a takeoff on Kurosawa's epic 'Shichinin no samurai', so then we return to the gaigin Japan tone. Hai.

A song then for pooboy II from one of my fav groups - the Muddmen and if I might be so bold suggest that it comes non solum from me sed etiam from John T. Hershey. Maestro, if you please, some P.O.M http://www.youtube.com/watch?v=yU_JyGBDeIc&feature=related. That's me on the far right and Jack's in there somewhere on that cover and as for you-know-who, check the video and see if you can find him. And no, it's not The Kid or that ditz Paris or that adorable chi-hua-hua.

Good trading to y'all. Pass me some deep fried okra and some NC BBQ and a refreshing beverage (yeh Samuel L.'s with us too, mofo).

lj
 
Quote from ljyoung:

Dynamic SymPs for ES and YM and preM 5.5 point LM for ES. DF/DM continues.

lj
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Quote from ljyoung:

Dynamic SymPs for ES and YM and preM 5.5 point LM for ES. DF/DM continues.

lj
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I really hate acronyms but everyone uses then so whatchagonnado. SymP=symmetrical pennant=a pause in anticipation of change; preM=premarket which I have arbitrarily defined as the time from 7 AM ET till RTH open at 9:30 AM; LM=lateral movement=a sideways movement of price in which all price bars have their close with the poles of the primary bar which is the first bar in the movement; DF/DM=down Friday/down Monday=usually (but not always) within 1-3 days from this doublet, there is a noticeable selloff (from Hirsch&Hirsch).

Dynamic in this instance refers to the fact that this bar has not yet completed its formation but at this point in time (time=the third degree of freedom in the stockmarket) the bar looks like this. It, IMO, is useful just at the close of the overnight component of the Globex ES which runs from the open at 4:30 PM ET till the RTH open at 9:30 AM the next day -sort of a summary bar with the qualification that the volume associated with this bar is small compared to the RTH session volume. The boyz (and girlz) are busy all night long with flurries of activity seen with the coming into play of the TSE and LSE.

lj

JFF while spending an AM annotating, IMO, this lady has an intriguing voice with a vid that'll drive the PC crew nutz (black lady - white jumpsuit - black horse and more). Not a Dale Bozzio rip: http://www.youtube.com/watch?v=Y9JI0GXkARQ&feature=related
 
Quote from ownedu:

Long and strong eh Jack :p
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With the sincere hope that you're not somehow related to the cretin that was here the other evening let me explain why he took the trade and what probably, though not necessarily happened when the trade failed, as it obviously did.

He went long (looks like an entry near the close of the bar) on an outside up bar on increased volume after bouncing off a the right rail of the channel and FTTing (failing to traverse) the down channel. A logical trade, IMO, though in retrospect (a powerful tool as well you know) perhaps [here fill in whatever reason one might wish to give] but the signal was there. As no doubt you know it is a classical bearish engulfing signal.

It failed and so what did JH do. Hold on for dear life hoping it would reverse? Probably not. The mark of a trader is how you deal with things not going your way. You exit with a small loss which is what I'm sure he did. How much, I don't know. Perhaps if there was volume present for the candles shown in the right chart I might be able to give a better guess about his exit point.

So I guess my question would be is how often do bearish engulfings fail and how often when they have the "market context" that this one did. Again I don't know and in truth don't care because it isn't how JH or myself trade.

lj

BTW even if he was taking a long, hard 3 day long crap when things went south, are we talking big $ here? 800 shares thus at a buck a point that's $800. But yeah what's big to some ... blah and blah.
 
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