Inverted head and shoulders on the SPX?

Quote from AMT4SWA:

OK....this is too good to pass up.....we are trading into the next delta zone and I have fills at 722.00 and 723.00, I will take first covers at 720.00 and then next out at 718.00 .....nice move to the next delta zone of resting inventory. :)
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Great fade AMT... It took me a few tries but I finally nailed a 722.75 short that stuck. I only held for 718 and 715 tho. A pity, market really crashed in the last half an hour.

Those 3:30pm reversals can be brutal. Bears undid more than 50% of the effort the bulls took all day to build up.

Stone
 
Quote from stoneface:

Great fade AMT... It took me a few tries but I finally nailed a 722.75 short that stuck. I only held for 718 and 715 tho. A pity, market really crashed in the last half an hour.

Those 3:30pm reversals can be brutal. Bears undid more than 50% of the effort the bulls took all day to build up.

Stone
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EXCELLENT job sir!

The 721's to 724's delta zone I had mentioned earlier today was a very optimal set up for selling into imo. This zone was the SECOND level of resistance the market traded to, and even more perfect near the last portion of the trade day (ripe area for sellers to take advantage of higher pricing levels so late in the day).
 
Quote from AMT4SWA:

Selling 715's brought a sell respone down to 711 area so that was good for a few points. Next rotation up here has now taken out the top of the delta zone of 715's (with stops up to 717's).....so market could rally to next zone of resting inventory above going forward. :)

The 721's to 724's is the next area a person could look to enter sell positions to see if a sell response comes in at that zone. :)
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When you understand the price levels/zones to trade from, it makes the trade entry determinations so much easier imo.
 
Quote from AMT4SWA:

When you understand the price levels/zones to trade from, it makes the trade entry determinations so much easier imo.
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Whole heartedly agree... If you have the patience to trade at the key zones, it will make your life much easier.

There's a troop of traders I am in touch with on Othernet IRC & priceaction dot net that trade off of what we call "Anchor Support / Resistance Zones". You call them Delta Zones. All good, same thing =)

Basically, we look to trade with the prevailing trend of the larger timeframe. Buy Anchor Support, Sell Anchor Resistance.

I find that your entries where you are using heavy size coincide with the same levels we are looking at.

Problem is, sometimes I fail to wait for prices to reach these important zones, scalps have lower R:R.. and if your accuracy sucks, your P&L will suffer. Patience is a tool... I am learning to hone that skill.

All the best,

Stone
 
I agree...great fade at resistance level near 728.00...on the daily chart. Bears retraced a good portion of today's trading session in the last closing minutes of the day. Inverted hammer candle as well.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p33248965723&a=160452275&listNum=1

Great posting everyone.....
 
I have covered some additional positions at 703.00 tonight and I will set my last target at 698.00 as the market weakness continues here into the AH session pre EU open :)
 
Quote from AMT4SWA:

I have covered some additional positions at 703.00 tonight and I will set my last target at 698.00 as the market weakness continues here into the AH session pre EU open :)
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Lol, do you ever sleep?

I am headed for Cancun for a few days. Bad timing, but I didn't know the market would be in "crash mode" when I booked the trip.

Best trading to you,

Stone
 
I am up watching my positions and waiting for the EU market to open....about 45 minutes into the EU open I will call it a night. Working on my kitplane too so enjoying the Austin weather tonight (in the 70's). :)
 
Before diving into an AMT-like approach, I was curious what data sources AMT and others are using to collect all this volume and price data 24 hours a day? Do you guys have any reliance on an historical data source, or are you doing all of the collecting in realtime with custom programs? thanks
 
I do collect the data realtime and that is the best way I have found to do it......you need to collect the data in a proprietary program for ALL globex hours traded for the contract you are tracking the delta. You can also just keep Investor RT running at all times the globex is open and keep track of all the cumulative delta levels for each and every day in relation to price. BTW, I prefer DTN.IQ data feed when using Investor RT.
 
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