ES Journal Archive (2009 - 2010)

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Quote from Lawrence Chan:

ORH = R1 at 43.5 acted as resistance

1st ORL at 39.25 = previous day high

2nd previous day close at 37.25

3rd PP at 33.25

If PP breaks by more than 2 pts, S1 at 27 in play.

Welcome to market making process. =)

Edit: Talking about Dec contract. SPX wise 47-49 monthly resistance
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as you mentioned previously, currency influence seems to allow only the minimal targets. thanks for the commentary, LC.

newbie
 
Quote from Lawrence Chan:

JSS,

PA on EUR and JPY indicates some kind of reversal intention against USD.

Not sure if that will materialize though.

What's your take?
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My take is that we have some stupid players around who do not know anything about trading strategies. Take a look at 1 min ESU9 :

every rookie trader is aware that new lows must be done in the encircled "moment"
 

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Quote from ASusilovic:

My take is that we have some stupid players around who do not know anything about trading strategies. Take a look at 1 min ESU9 :

every rookie trader is aware that new lows must be done in the encircled "moment"
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Just take advantage of that ... somehow the bots are not helping the bulls today, the operators having weekend party early?

=P
 
MM bots would not chase the mkt up when people buying with them.

They only blast thru resistance if there are sellers selling into the zone.

mwahahahaha!

USDJPY 1st attempt to break 90 :D:D:D
 
Quote from Lawrence Chan:

MM bots would not chase the mkt up when people buying with them.

They only blast thru resistance if there are sellers selling into the zone.
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LC, is it correct to say that one common MM bot tactic is to squeeze (in the very short-term) a crowded trade?

Thanks.
 
Quote from pcvix:

What's so special about that "moment?"
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Once you tick it to a new low then you will get shorties who will sell that fractal. Then you can take the market right back up and get them stopped out. You win, the shorties lose (this is for daytraders and other shorter time frame people who do not have the capital for longer term plays like B1S2).
 
Quote from pcvix:

LC, is it correct to say that one common MM bot tactic is to squeeze (in the very short-term) a crowded trade?

Thanks.
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Price discover process ... I think a better term is orders discover process =)

In old times human MMs do the same thing. The bots are just emotionless and have no mercy.
 
Quote from pcvix:

LC, is it correct to say that one common MM bot tactic is to squeeze (in the very short-term) a crowded trade?

Thanks.
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He's saying they like to give a Short Squeez when there are Shorts piled on and the market is in an uptrend, and Drop like a Rock when the Longs are trying to push the market up and there is a downtrend.
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FTR the market is still in positive territory, so maybe there will be more buying during the afternoon session.

I won't know until I see it.

Good trading
 
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