Chart of the day

Here is a gap and triples so up here at 1227 is my sell...look at the gap in between the white lines...just couldn't hold long with that looming

here is a snapshot of the gap that was created DURING rth trading...actual gap is at 61.50....you gotta be quick sometimes..

Originally posted by BruceM

gap at 61..agressive longs at 57

us longs need to be careful if the YM starts banging against the 970 - 980 area...that's the highest volume for YM today

48.50 is best fill..only one left...keeping this tight....this the ES low volume point up here and key number at 50....tricky place even with triples above

57.50 is my final.....I'm stoked...that my friends is the way to end a week.............sometimes having kids around and some distractions are a good thing while trading

tiples run and more...look at that huge volume spike on that move up....always need caution if holding after one of those...especially while inside a days range..that's a critical point for those who follow some of my volume ideas/rantings

Bruce what is your experience about matching the pitbull #s with fib. retracement #s instead of volume.

I have never studied the correlation with Fibs...sorry!

Originally posted by ak1

Bruce what is your experience about matching the pitbull #s with fib. retracement #s instead of volume.

Well, if you will, you will see what I mean.

Originally posted by ak1

Well, if you will, you will see what I mean.

Can you give us an example or show us a chart ak?

Looks like they finally got those triples BRUCE, wish I had more on the last trade , but hey a winner is a winner. Thanks for sharing your insights, they have been very helpful in my learning and in trying to apply with my trading abilities!!

I don't think the volume is an issue but it is just something I have observed. I personally would not look at 1 - 4 minute etc..you'd drive yourself crazy and find too many areas of consolidation. For me it's on the 5 minute or else I don't look for them.

Obviously they are not perfect and you can see 5 (5 minute bars) in a row down near the 988 area that have held.....those folks got rewarded but most times the triples give folks the false impression of being rewarded only to get run out later.


There are some who think that the floor or larger traders don't gun for stops.....while they may not gun for my SPECIFIC order I beleive they do know that folks are taught to keep stops just below or above swing points and consolidation areas, like the triples. This is why I am a fader and like things like previous highs and lows and volume areas. We just don't trend enough and spend a huge amount of time consolidating...

Bring up a 5 minute chart of the ES and see how often we get a trend away from a price without going back to fill in the breakout area later.....look for my thread called "Price bar overlap" soon. The RTH session begins for me at 9:30 e.s.t and ends at 4:15 . Everything outside of that time is considered the overnight session for me.

Originally posted by ak1

Thanks Bruce, if the triples are formed inside the days range on high volume will they be considered valid.Like the ones at 1006.5 on Friday. Also if we can't find triples in a 5 min. chart, is it OK to consider the 1 min chart then or do we go loking for them from 4min to 3min to 2min and then 1 min.i.e scale down.