ES Journal Archive (2009 - 2010)

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Quote from petty1978:

Hey tomahawk-have you noticed how price is just whipping up and down through that special TL I showed you? jury is still out which way it will break.
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Sorry, just saw your post. Yes the hourly TL's are incredible. If you notice, today's regular session low was a touch of the new TL drawn from your chart's point 1 to today's earlier Globex low.

Edit: (by "today's earlier Globex low" I mean the 62-ish low from yest. A.H.)
 

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Quote from petty1978:

When looking for this to happen in this manner it is pretty straightforward:

Globex range on 5-19-10
High 1122.75
Low 1098.75
Range = 24 points

THEN extend out these numbers in a very simple format to get price levels:

1098.75 - 24 = 1074.75 PL
1074.74 - 24 = 1050.75 PL

[this 1074.75 price level needs to hold next full Globex session only or the next level will statistically be touched]

on 5-20-10 the full Globex session low was 1067.25

1067.25 is < 1074.75 SO

the next level to be reached is 1050.75, add a few ticks so you make sure you fill.

Try it out, it works on full Globex sessions, No-Globex sessions and most of the high volume NYSE stocks, try and stay away from NASDAQ, it is a little unpredictable with this technique.

Hope this makes sense and helps.
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Interesting concept. May I ask how many days you would use or extend the differential (eg. 24)? Should you subtract 24 again to today's low to come up with tomorrow's low or should you use yesterday's range? What's the logic?
 
Quote from Eko_Trader:

Minimal size short on 653.5 on TF (If it gets back there). stop @ 55.5. Target 46.0

EDIT: Entry moved to 654.0
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Trade cancelled. I shouldn't have moved my entry...oh well.
 
Quote from schizo:

Interesting concept. May I ask how many days you would use or extend the differential (eg. 24)? Should you subtract 24 again to today's low to come up with tomorrow's low or should you use yesterday's range? What's the logic?
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No, specifically on this Daily Bar technique, I only use 200% expansion as a final destination then I let price reset and start again fresh another day and another new range. This allows me to know where all my orders go and I know very easily that if price reverts against me to a certain level that its a blown trade and I like that, it brings me comfort. There is no overlapping and confusion this way.

However, price does like to move in these multiples of 50%/100%/200% intra day [and the ES it REALLY likes to] and many of my techniques use these expansion levels as entry/exit/stop levels and also in logic based blocks to build my models against time/price based intervals as starting points.

It works very well and is very reliable year in year out.
 
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