ES Journal - 2012

[wave]

1310.75 will be the next bounce to short into, then the climax into the close towards 1303.

 

[lucky lucille]

adding l NQ 48.75

 

[trickshot]

Looks like a swing top. The selling is pretty massive.

 

[gmst]

Quote from wave:

1310.75 will be the next bounce to short into, then the climax into the close towards 1303.

Thank you very much for the free signal service. Even if your signal works only once a month, but you can post it here, no trader on ET will remain unprofitable.

I sure hope I will have such an understanding of market one day as you have! Wow!

 

[lucky lucille]

oversold shrttrm targt 60's on NQ's

 

[kinggyppo]

Here is a treat for you patiently waiting shorts, trying to get the patent on this for my t shirt co.

 

[ammo]

make up a slogan about taking back DC,vote out DemRepublicans ReDemblicans

 

[gmst]

Quote from ammo:

i never understood why the cleavage works as supp res or target but it does over and over

What do you think of below ?

Cleavage is an area where price trades for very little volume, which also implies that price stays in that area for very little time. Where will this happen?

1. This will happen in case of big news and price gaps through that area.
2. Under more normal (non-news driven) trading conditions, determined buyers will aggressively buy and push price away quickly - this will become a support area and a cleavage, next time sellers sell, this will be an obvious target area (where they will expect price to reach, meet aggressive buyers again and possibly reverse). Also, buyers will wait for this area to come before they start buying aggressively again, thus making it support in future.
3. Similar case for sellers as for buyers in 2. above

 

[kinggyppo]

Quote from ammo:

make up a slogan about taking back DC,vote out DemRepublicans ReDemblicans

first time I saw that I couldn't stop laughing, had tears coming out of my eyes. He nails it, with a double negative no less. Anyhoo, back to
es.

 

[kinggyppo]

Quote from gmst:

What do you think of below ?

Cleavage is an area where price trades for very little volume, which also implies that price stays in that area for very little time. Where will this happen?

1. This will happen in case of big news and price gaps through that area.
2. Under more normal (non-news driven) trading conditions, determined buyers will aggressively buy and push price away quickly - this will become a support area and a cleavage, next time sellers sell, this will be an obvious target area (where they will expect price to reach, meet aggressive buyers again and possibly reverse). Also, buyers will wait for this area to come before they start buying aggressively again, thus making it support in future.
3. Similar case for sellers as for buyers in 2. above

sounds good to me the idea of market profile is that markets facilitate trade, some will say that price goes to volume. In the old days price would always magically move to the the broker with the 10,000 lot. Not sure these days with electronic markets, dark pools, etc but the principal likely is still there. SPX is still pit traded would be interesting to see if that still holds there.