ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Now then...I am not too embarrassed to admit that I learned a couple of important overlooked facts from YOU a couple of years ago...
Confirmed my own thinking with a little "gem' thrown in ...
R U blushing.....
NiN
Why would anyone wanna window dress given the recent market performance?
Now stop pussyfooting around and go wrestle the alligator and show em' how great you are!
http://www.youtube.com/watch?v=7-5_8af3TiY&feature=related
You can beat this game, only if you want to...
http://www.youtube.com/watch?v=7-5_8af3TiY&feature=related
You can beat this game, only if you want to...
Wanted to go long at a lower level, but saw what looked like a trap of shorts by the bulls, or the big future traders that like to set traps. Basically, a lagging indicator suggested the market would go down, so some shorts looked like they were shorting for a break through down the gap, but the market stopped going down and was reversing up, so they were trapped, and I rode my scalp for a nice 1.5 gain. I did not get in at the bottom, but I went with the market with enough time to ride the mini swing. Obviously this trade only works when market is moving enough to give you enough points when you don't get in on a limit.
Here is a nice set-up to watch out for on a 30m Bar when looking at the ES.
[My intentions are to show how to trade the ES with nothing but bars and a few simple calculations...there are so many ways to accomplish this when analyzing Daily bars and 30m bars.]
It can either be set-up from a down bar [which leads to a future short trade] or set-up from an up bar [which leads to a future buy]. The down bars are more predictive in many ways and offer more flexibility and other trades can be set-up from them where up bars, not so much.
[Please see chart]
You need to watch for a certain bar construction:
Up Bar:
-besides the obvious, make sure the close is greater than the bar median point. It is yellow on the chart.
-calculate the 3 bar pivot, it is in pink on the chart. (Pivot is a 3 bar MA, H+L+C/3)
-make sure the median is less than the 3 bar pivot. (median is a 1 bar MA, H+L/2)
-make sure the high is not equal to the close and the low is not equal to the open.
EDIT: make sure the pivot is inside the body of the bar
Down Bar:
-exact opposite as an up bar
Additional Logic for an Up Bar, future Buy order. Down Bar logic is the opposite.
Make sure the 30m bar you start this set-up from [holds its open]...the next 30m bar or any other 30m bar can not draw back on the original bars open price level. Ideally you want the 2nd bar in this sequence to close higher.
You need to calculate the original bars range and create two price levels from this: 100% and 200%. [on the enclosed chart they are shown as 200% and 300% please disregard these labels] These calculated levels are used for the logic...what you are looking for is a 30m bar to close greater than the 100% range level. Once that happens you need price to revert back to the original bars open...price can expand higher than the 200% level after it closes greater than the 100% but it can not close above the 200% level on a 30m bar to make this a valid set-up.
Once all this happens in sequence price normally finds support at the original bars open and expands to the 100% and then the 200% and sometimes beyond...see the green arrow on the chart as the entry time and the green dashed line as the entry level.
You can apply your own exits and stops and money scheme according to [your] plan but watch out for these support levels and maybe you can see your own signals happening around them...remember the down bar set-ups are more reliable.
If I have excluded any logic I will edit and leave at the end of the post or create an additional post-
[My intentions are to show how to trade the ES with nothing but bars and a few simple calculations...there are so many ways to accomplish this when analyzing Daily bars and 30m bars.]
It can either be set-up from a down bar [which leads to a future short trade] or set-up from an up bar [which leads to a future buy]. The down bars are more predictive in many ways and offer more flexibility and other trades can be set-up from them where up bars, not so much.
[Please see chart]
You need to watch for a certain bar construction:
Up Bar:
-besides the obvious, make sure the close is greater than the bar median point. It is yellow on the chart.
-calculate the 3 bar pivot, it is in pink on the chart. (Pivot is a 3 bar MA, H+L+C/3)
-make sure the median is less than the 3 bar pivot. (median is a 1 bar MA, H+L/2)
-make sure the high is not equal to the close and the low is not equal to the open.
EDIT: make sure the pivot is inside the body of the bar
Down Bar:
-exact opposite as an up bar
Additional Logic for an Up Bar, future Buy order. Down Bar logic is the opposite.
Make sure the 30m bar you start this set-up from [holds its open]...the next 30m bar or any other 30m bar can not draw back on the original bars open price level. Ideally you want the 2nd bar in this sequence to close higher.
You need to calculate the original bars range and create two price levels from this: 100% and 200%. [on the enclosed chart they are shown as 200% and 300% please disregard these labels] These calculated levels are used for the logic...what you are looking for is a 30m bar to close greater than the 100% range level. Once that happens you need price to revert back to the original bars open...price can expand higher than the 200% level after it closes greater than the 100% but it can not close above the 200% level on a 30m bar to make this a valid set-up.
Once all this happens in sequence price normally finds support at the original bars open and expands to the 100% and then the 200% and sometimes beyond...see the green arrow on the chart as the entry time and the green dashed line as the entry level.
You can apply your own exits and stops and money scheme according to [your] plan but watch out for these support levels and maybe you can see your own signals happening around them...remember the down bar set-ups are more reliable.
If I have excluded any logic I will edit and leave at the end of the post or create an additional post-
My charts will always be EST.
You can apply this to both sessions and they can overlap like this chart did, the set up bar was from the overnight session and it hit during RTH.
Ideally, you want RTH first bar set-ups, and the trade to execute during the same session...there is more stability and reversal power...these set-ups do fail obviously like anything else but theses are great levels to watch for reversal...especially for discretionary traders.
Ideally you are looking for the reversal to move at least to the 200% price level...but sometimes it fades out.
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