Es Algo Late Day

P

pwrtrdr

Anyone care to guess/ answer how the ES works in such mysterious ways.

Example market sells off from 74 area all the way down to 66 in a hurry. Comes complete back from 66 to just about 1,174 on close ,very methodical as if computers ( no emotion) buying back up.

Question becomes how to identify when ALGO A' holes will stop or is this routine? Because I have seen this SCENARIO several times ( once a week anyway). Been trading ES only 8 months.


If can get on board with them can make money. Seems like a lock, anyone see this more often than I do ?

Thanks
 
Quote from CollegeTrader:

I noticed it also. But i know the pattern. Watch what happens closely and define a patten for it and you will make $$
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Yes, but happened on low of day, scary to buy here unless absolute sure these nit wits are program buying. ( I say nit wits because just because they trade like that does not mean they make money long run)

I watched closely, it happens at different times, not necesarily on close
 
Quote from Gcapman:

200 SMA on 60M charts has been solid support

This is not rocket science.......!!!
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SSo you must make about 50k a week then , because if you "figured " that out the ES can handle a couple million thrown at it in instant and taken back in instant.......

200MA
 
Well what happened was price pierced through the open at 1167.00 by watching the price action i could see the stops getting hit. So i figured price was about to move higher since they took out those stops. Secondly volume spike forming a hammer. A good trade would have been long the preceding bar with a stop at 1166. Knowing that if the hammer failed sellers took control back. And lastly if you look at the RTH chart you can see we filled a huge gap from yesterdays close. So if price bounced which it did issued another long signal. Hope that helps. Like i said i saw a pattern in the price that ive seen time and time again that told me to go long.
 
Quote from CollegeTrader:

Well what happened was price pierced through the open at 1167.00 by watching the price action i could see the stops getting hit. So i figured price was about to move higher since they took out those stops. Secondly volume spike forming a hammer. A good trade would have been long the preceding bar with a stop at 1166. Knowing that if the hammer failed sellers took control back. And lastly if you look at the RTH chart you can see we filled a huge gap from yesterdays close. So if price bounced which it did issued another long signal. Hope that helps. Like i said i saw a pattern in the price that ive seen time and time again that told me to go long.
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Thanks.

However I am looking for clues about price formation that trigger me to figure out if ALGOS are in control and how they begin and end.

I have seen stops go off, reset and go off again at lower levels.

I think this move was sick because it was after 3:30 which is typically not a place to "trade" a thing
 
Quote from CollegeTrader:

yeah i dont know how to spot an algo. Goodluck with that.
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Thanks, basically I had been short, covered at a slight loss at 3:30 because I dont trade after 3:30.

But seems very strange how it just came back.

I get your point with stops, but I have seen just as often that people go "long" only to get sopped again, unreliable method.
 
Quote from pwrtrdr:

Anyone care to guess/ answer how the ES works in such mysterious ways.

Example market sells off from 74 area all the way down to 66 in a hurry. Comes complete back from 66 to just about 1,174 on close ,very methodical as if computers ( no emotion) buying back up.

Question becomes how to identify when ALGO A' holes will stop or is this routine? Because I have seen this SCENARIO several times ( once a week anyway). Been trading ES only 8 months.


If can get on board with them can make money. Seems like a lock, anyone see this more often than I do ?

Thanks
More...

This wasn't algo; it was squaring ahead of an NFP report on Good Friday. I'd suggest an easier market to trade.
 
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