Collection Of Intraday Patterns For The ES Market

[wrbtrader]

Always nice to see Head & Shoulders price actions in the Emini ES futures because there's usually micro price actions that can be used for trade signals or profit targets.

Mark

 

[volente_00]

Quote from wrbtrader:

Always nice to see Head & Shoulders price actions in the Emini ES futures because there's usually micro price actions that can be used for trade signals or profit targets.

Mark

Interesting how the projection on that H&S was ~19 which was r10 as well

 

[NoDoji]

Quote from Laissez Faire:

Very nice patterns in play today.

R10 move and a double bottom at higher time frame support.

The double bottom also filled the gap from the open. Nice!

Free money

Round numbers seem to be very significant in the ES market.

Where did you go long off this pattern?

The "faith-based" anticipatory entry: 1319.75

The DB early confirmed entry: 1322.25

The fully confirmed entry: 1323.75

What's the rationale for these long entries?

And what was/is your profit target? (This will be different for intraday vs. swing trades.)

 

[Laissez Faire]

Quote from NoDoji:

Where did you go long off this pattern?

The "faith-based" anticipatory entry: 1319.75

The DB early confirmed entry: 1322.25

The fully confirmed entry: 1323.75

What's the rationale for these long entries?

And what was/is your profit target? (This will be different for intraday vs. swing trades.)

Hello NoDoji,

Actually, I`m on a leave of absence from active trading at the moment, but I was at my desk when the double bottom was forming so I took a sim trade.

I entered long @ 1320 with a 1.5 point stop @ 1318,50, below the selling tail. This was after the first dip below 1320. My rationale was that I anticipated that support would hold and we were bottoming out. I also noted that the gap was filled and there was an R10 to 1319.

Being an intraday trader, my target was an approximation of the last swing high around 1326, exiting with a sell limit @ 1325 if I recall correctly.

Only simbucks though.

An experienced trader should have been able to short the lower high around 11:15 in anticipation of a gap fill and then reversed.

Maybe I`ll get there some day

 

[Laissez Faire]

Nice chart, Mark. Thanks!

I`m training myself to gain awareness of the HS and IHS patterns. They seem to occur rather frequently in the ES market.

 

[NoDoji]

Quote from Laissez Faire:

Hello NoDoji,

Actually, I`m on a leave of absence from active trading at the moment, but I was at my desk when the double bottom was forming so I took a sim trade.

I entered long @ 1320 with a 1.5 point stop @ 1318,50, below the selling tail. This was after the first dip below 1320. My rationale was that I anticipated that support would hold and we were bottoming out. I also noted that the gap was filled and there was an R10 to 1319.

I like the anticipatory entry because although the probability is lower, the stop is tight; it works or it don't!

I'm starting to use the anticipatory entries more often. It requires a sort of blind faith, but the entries on trades can be spectacular when it works.

 

[shakira]

I can see wrbtrader has already started his marketing campaign again. It must be some type of invasion. Carry on LF, but don't give him any money.

 

[wrbtrader]

Quote from Laissez Faire:

Nice chart, Mark. Thanks!

I`m training myself to gain awareness of the HS and IHS patterns. They seem to occur rather frequently in the ES market.

Hi Laissez Faire,

You're very welcome. I've seen many charts of Emini ES here at Elitetrader.com posted by others and I've noticed that the Head & Shoulders appears more often on all session charts (globex) of Emini ES futures in comparison to the regular session (0930am 0 1615pm est) charts.

Thus, the type of chart setting (all session versus regular hours) for the Emini ES does have an impact on the type of intraday patterns we see. Simply, the H&S or Inverted H&S is a repeatable pattern in the Emini ES but our chart interval of choice or overall chart setting (globex versus regular) has an impact on what we see and what we don't see.

For example, if a price pattern starts its formation in the overnight trading session or early morning hours before 0930am est and you're using the regular session charts...there's a very good chance you won't see the price pattern develop if you're using the regular session chart instead of the all session chart.

I also wanted to show how micro price actions within another price action is just one of several causes what you phrased as tendencies and idiosyncrasies of the ES market several message posts ago in this thread.

In addition, I wanted to show how key changes in supply/demand in the recent price history involving price patterns do have an impact on the price action that occurs later...understandably so because key changes in supply/demand represents key market participation.

Mark

 

[bighog]

Quote from athlonmank8:

lol. No, i'm not gonna. Size doesn't look at a chart and say.......oh boy! A dragon. Or time to go long, it's a "duck". Those patterns form for other reasons. In fact, I have no clue what the fuck you're really doing other than posting pictures.

I don't care how to trade it. I know how to trade, and you're not going to find 1 picture on my chart(S). I've got 5-7 time frames up to go over. I don't have time to play with my coloring book. All I worry about is how the market reacts to certain levels and the overall trend.

Posting pictures, Funny as hell,,,, HA!! I have used examples of chicks at dances, getting laid, why women check a guys shoe size etc but i always wondered if the cartoon pics were about the pattern or the cartoon posting it.

OK, i been posting to much lately, going back in my cave. Later.

PS: I never lowered myself to even consider giving those stupid "duckie" pics a second thought.........some people need to take this trading stuff serious if they ever hope to make a dime at it. BYE!!

PSS: Patterns in daytrading are a myth. Follow along, thats all ya need to know.........patterns are for losers.

 

[shakira]