ES Journal Archive (2009 - 2010)

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Quote from austinp:

today's choppy ES chart. Yesterday's Ctrl-Bar held thrust, yesterday's peak high was out of play
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""consistency" is a user-defined term."
OK, "User defined" it is then.
"Beauty is in the eye of the beholder"

Excellent example of yesterday's Control Bar holding the thrust today.

And yet if you apply the same "consistency" to the Control Bar of the day before, yesterday's price run through it like chop suey.
Granted, price shuddered a little, but then it also shuddered as it took out the Control Bar HIGH as well.

I imagine that it is better to think in terms of zones rather than defined lines.
 
Quote from austinp:

"consistency" is a user-defined term. Control bars from prior zones are usually 5-bar patterns. notice how yesterday's high-bar break was today's peak failure again? supply still clustered there.

while a Ctrl-Bar pattern is forming, it does not always complete 5-bars at that time. but anyone = everyone watching that price study today saw the ES 1166+ zone rejection before current lows rolled.
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The SHOW ME pivot dot is printed after 5 bar later, right?
I tested in TS chart, and it looked like that, any tip? Thanks.
 
Quote from jjf:

""consistency" is a user-defined term."
OK, "User defined" it is then.
"Beauty is in the eye of the beholder"

Excellent example of yesterday's Control Bar holding the thrust today.

And yet if you apply the same "consistency" to the Control Bar of the day before, yesterday's price run through it like chop suey.
Granted, price shuddered a little, but then it also shuddered as it took out the Control Bar HIGH as well.

I imagine that it is better to think in terms of zones rather than defined lines.
More...

I personally use them as zones of S/R to trade around. Much like some people use various volume studies, mp stuff that I personally don't.

Any particular study shows the cumulative effect of trades = stops placed based on countless different reasons that all congregate in the same general area. There is no such thing as an "exact spot" on a chart being anything valid all the time. Everything any trader has to work with is a general zone :)
 
The current 5min ES control bar setting up would be the 12:30 ET bar, with the control line at 64.00, correct? Would you be short from there right now, or waiting for a drop (confirming 5-bars post) and then re-test first? (or am I totally off altogether .. lol)
 
Quote from tomahawk:

The current 5min ES control bar setting up would be the 12:30 ET bar, with the control line at 64.00, correct? Would you be short from there right now, or waiting for a drop (confirming 5-bars post) and then re-test first? (or am I totally off altogether .. lol)
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I'm personally trying to establish a swing trade short from 1165 > 1166 zone back to today's gap and/or Friday's close. I'm not personally trying to catch the +2pt +3pt trades available... we have a high-odds situation below with two open gaps and no-volume lift currently.

So I'm using that high zone as my first area to establish short, then double position if/when they break lower today. Looking for a gap-fill ride, willing to hold over the close and beyond.
 
Quote from austinp:

I'm personally trying to establish a swing trade short from 1165 > 1166 zone back to today's gap and/or Friday's close. I'm not personally trying to catch the +2pt +3pt trades available... we have a high-odds situation below with two open gaps and no-volume lift currently.

So I'm using that high zone as my first area to establish short, then double position if/when they break lower today. Looking for a gap-fill ride, willing to hold over the close and beyond.
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Thanks - appreciate you sharing some detail from your own trading.
 
Quote from austinp:

------------------------------------------

Any particular study shows the cumulative effect of trades = stops placed based on countless different reasons that all congregate in the same general area. There is no such thing as an "exact spot" on a chart being anything valid all the time. Everything any trader has to work with is a general zone :)
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Excellent I knew we would get there in the end.

It is funny how sales videos, charts etc all start out with retrospective accuracy and after a couple of nudges they morph into variations of "user defined" terms.

Never the less it is all good fun.
 
Quote from tomahawk:

Thanks - appreciate you sharing some detail from your own trading.
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well, I'm making the conscious decision to forego small-swing profit trades ES in exchange for the statistical potential of gap fill below, sooner than later. Two gaps there are a pretty powerful magnet... might take until tomorrow to fill, if it does. That's my management decision, shooting for a solid swing trade: aka big birds in bush risking the small birds in hand today.
 
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