ES Journal - 2012

[ammo]

42-43 is a nip from yest and todays cleave..edit dotted blue line is supp from friday(1320) tues(1331) lows trendline (1334)

 

[gmst]

Quote from gmst:

closed the trade at 1339.75, and now long 1339.75. stop 2.5 points.

Edit: Target is 1344-1345 this time, hopefully

moving stop to 1239, so now risk is 0.75 on this trade.

 

[bigsnack]

Quote from gmst:

Big Brother, will you please explain why behind your observation ? It is one of my weaknesses, I find it hard to decide when to take off a trade which has gone good 6 or 8+ points in my favor.

Thanks

It is the edge of a ledge on volume, nothing more! There were two on the profile, but it looks like it reversed at the higher of the two. When the market is moving down, it tends to stop at the bottom edges of ledges, vice versa for longs.

There is some pretty interesting behavior I'm watching for on the DOM. It could be hocus pocus, but my first observations is that there is some consistent behavior on the DOM when price is getting ready to reverse.

Lately 6-8 points on a trade in the ES is a goldmine. Take the money and run!!!

 

[gmst]

Quote from bigsnack:

It is the edge of a ledge on volume, nothing more! There were two on the profile, but it looks like it reversed at the higher of the two. When the market is moving down, it tends to stop at the bottom edges of ledges, vice versa for longs.

There is some pretty interesting behavior I'm watching for on the DOM. It could be hocus pocus, but my first observations is that there is some consistent behavior on the DOM when price is getting ready to reverse.

Lately 6-8 points on a trade in the ES is a goldmine. Take the money and run!!!

Thanks a lot.

About the interesting behaviour on DOM, you might be onto something there. Just thinking about it, if something is trending, it takes a lot to stop the trend and reverse it - so some teltale signs must be present 'somewhere'. Tick, DOM etc. are high probability candidates.

 

[ammo]

Quote from gmst:

Thanks a lot.

About the interesting behaviour on DOM, you might be onto something there. Just thinking about it, if something is trending, it takes a lot to stop the trend and reverse it - so some teltale signs must be present 'somewhere'. Tick, DOM etc. are high probability candidates.

the wide spots of volume on the dom and then when the bid/ask of 1000 or more up are the battle spots,we stop there and reverse or battle thru for new high or low,excluding last 5 minutes before stocks close

 

[Max618]

Market bounce on the VAL (Value Area Low 1337.50) + Fib 61.8% 1338 Confluence.
Probably move higher to VAH (Value Area High 1345.25) + Fib 78.6% Confluence.

 

[Max618]

Testing Initial Balance...expecting slight short activity

 

[gmst]

Quote from ammo:

the wide spots of volume on the dom and then when the bid/ask of 1000 or more up are the battle spots,we stop there and reverse or battle thru for new high or low,excluding last 5 minutes before stocks close

Thanks for lesson, ammo. I have never watched DOM closely for any length of time, so its a new science/art for me. I think I will focus closely on DOM as a tool sometime in future.

It is my guess that DOM will have much more value while trading other less liquid futures like Ags, metals etc. rather than index futures, because many more players and HFTs are involved in index futures compared to ags for example.

 

[ammo]

Quote from Max618:

Market bounce on the VAL (Value Area Low 1337.50) + Fib 61.8% 1338 Confluence.
Probably move higher to VAH (Value Area High 1345.25) + Fib 78.6% Confluence.

your right at todays cleavage and yesterdays nip on your chart,have to win that battle first,funny how media and repeated upper ranges,past 20 30 days up has everyone eliminating downside possibilities,basics are always have supp and res on your horizon to level out your thought process,not directed at you max,just making a point,seems everyone is so convinced we are going higher

 

[ammo]

Quote from gmst:

Thanks for lesson, ammo. I have never watched DOM closely for any length of time, so its a new science/art for me. I think I will focus closely on DOM as a tool sometime in future.

It is my guess that DOM will have much more value while trading other less liquid futures like Ags, metals etc. rather than index futures, because many more players and HFTs are involved in index futures compared to ags for example.

you can go blind doing it but at the end of day when we get those 3 or 4 point pops ,you can just watch the volume pops on the totals to the right and see it rise repeatedly 2 or 300 at a crack and you know that bid or offer will disappear