Beautiful ES slam-dunk trade

C

chrisdunn

This was something pretty sweet that I noticed on the S&P Emini (ES) yesterday...

I took the first two pictures at the close of market yesterday. Notice the beautiful head and shoulders on the 2584 tick chart.

6a0105354b4f78970c0115714a4965970b-800wi


The target for for me was around 903-905. I don't trade pre-market or hold positions over-night, and I rarely make calls for the next day, but this was just too sweet to pass up.

6a0105354b4f78970c011570551b38970c-800wi


Here's the completed picture for today...

hs2.gif
 
I see 100 of these pattern set ups a day in the ES. Some work out , some don't.


Not realistic to cherry pick. And I never go over 2566 ticks, the 2584 tick chart is too 'thick'
 
Quote from stock777:

I see 100 of these pattern set ups a day in the ES. Some work out , some don't.


Not realistic to cherry pick. And I never go over 2566 ticks, the 2584 tick chart is too 'thick'
More...


You're missing the point.

Yes, I see h&s all over the place. I wasn't "cherry-picking", just pointing out how clear that pattern was and the result.

And actually, I use as high as 10,946 tick charts... I don't use them to actually take my trades off of, but they help for longer term trends and areas. I prefer larger tick charts over minute charts.
 
Chris,

I keep flipping from minute to large tick for anchor chart but always go back to time or volume charts. I do use a small tick chart but I like either the volume or time for anchor.

Just preference or am I missing something more important?

Thanks again,

V.
 
Quote from VinnyB:

Chris,

I keep flipping from minute to large tick for anchor chart but always go back to time or volume charts. I do use a small tick chart but I like either the volume or time for anchor.

Just preference or am I missing something more important?

Thanks again,

V.
More...

Whatever works for you...

Think of the market as a movie. It doesn't matter if you're using tick or minute charts, it's still the same movie. The only difference is the perspective you're viewing it from.

For example, minute charts are like watching a movie on a regular screen, where tick charts are like watching 3D or Imax. Same movie, different perspective.

I'm better at using tick charts than minute charts and a volume indicator... it just flows better for me.

Good luck,

CD
 
Quote from MandelbrotSet:

Yeah, I agree with you Chris.

I called it here real-time. :) :cool:

Link
More...






Beat you by almost 3 hours in the same thread


:D




Quote from volente_00:



06-23-09 10:08 PM


~887 will form a right shoulder of an IHS for the bulls.
More...
 
You must log in or register to reply here.
Back
Top