Ups and downs trading

maxinger said:
Of course there are time even with these characteristics, price could still move substantially.
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range contraction and less volume means less transactions are happening.
For some reason buyers and sellers are not agreeing.
Since the job of the market is to transact,it is going to look else where to try and transact.Expect some probes up and down while it searches to do business.The last double bottom[yellow line] was with the highest volume in 3 months and then a move up with decreased volume this happens in trends but it may be a trend in a range and we are at the top of the range.The market may try to test the double bottom since we are at the top of range with very little transactions taking place and the market may search for the last place where high transactions took place which is the double bottom
es.png
 
Alfing said:
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as mentioned, ES movement was
1. very limited
2. very spiky / jerky
3. very sluggish
4. patternless / disorganised / messy / distorted / deformed etc etc etc.

I wouldn't trade because chances of failure is very high.
for ES, not all days are tradable.

Obviously there are people who traded and it is up to them.

In fact, ES YM NQ were rather messy.
So I focused on Russell 200 which was more trendy.
 
Alfing said:
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sell ? why because it is the top of the channel which you have drawn.
First i do not agree to entering a trade on a trendline or channel which has hardly any touches to it:it is always important to observe what the market is saying and the market is saying it does not have much interest in your channel :D.

The red arrow shows a uptrend which is followed by a corrective move, a channel with overshoot ,also a 3 push down,so you could call it a wedge bull flag.
The next move up [marked with blue trend line] also confirms this bull flag with big up bars and small bear bars and further it happened with low volume.
The last 3 bars had very high volume so it is probably a corrective move and market may stall.it also shows increased participation by the bears showing that they believe this is corrective move to the high momentum spike down.But it will likely be another bull flag.
The high momentum spike broke out of a fairly long range there was no break out pullback...it happened on very low volume,i believe this is shakeout and that the high seen in the chart will be tested and in my view will like be broken as well.
es 1.png
 
maxinger said:
as mentioned, ES movement was
1. very limited
2. very spiky / jerky
3. very sluggish
4. patternless / disorganised / messy / distorted / deformed etc etc etc.

I wouldn't trade because chances of failure is very high.
for ES, not all days are tradable.

Obviously there are people who traded and it is up to them.

In fact, ES YM NQ were rather messy.
So I focused on Russell 200 which was more trendy.
More...

Can you show /ES that is not limited, spiky, sluggish, and disorganized? Because I started recently, this is the only /ES that I have seen.

Also, where do cool traders find tickers for current futures? Currently, I am limited to CME only.
 
your expected target has already been tested... what makes your think we will go down there again?

Also we tested yesterday's high and seem to be holding that as well...
 
_eug_ said:
your expected target has already been tested
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good point

that huge up bar does not look right. nothing technical just a feeling that something is not right.

the target is very optimistic one....

hammers are often retested so even that huge hammer may be tested,obvious things in market should be taken with a pinch of salt

also the breakout from a trading ranges may often give rather unpleasant surprises

it is nice to trade something else apart from forex after 10 years
 
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