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

Wish I had more to add, I will be a great trader soon, I just have to learn to trust myself....I put in alot of screen time,...sometimes days without exacuting a trade ,but I feel I am building confidence and Your Ideas have been insrumental in my learning and just want to say thanks again to you and the others who post from their experience!!

I wouldn't be surprised at another test of 70.50 even if we make new highs and run out the triples...TOO late posting...we just ran the triples and I wasn't in on that move up..... monitoring for shorts now with these new highs of the day

Trading once a day has its ups and down. Some days turn bad one after the other. Hopefully they don't last long. Limited profit but lots of free time.

what was cool about that is that we had the high volume zone from yesterday and the one that is created by todays volume......then we also knew that the 66 - 68 area is the " freakin magnet"....on this chart note the low volume on the right side and the price at time histogram......very little time spent at the 70.50....then I dial down and see the thrusts on the one minute that created such a zone

seems like these new highs are struggling now and all breakouts up are being met with inside bars on the 5 minute...certainly doesn't show any sense of urgency...profile of volume is fairly symetric which impies a trade back to the middle of the RTH range and the key 82 - 83 area....that's the 10 point players once again

in my demented world the NQ should roll over and at least test 1791.50.....no time spent there and we don't seem to be trending..that will help with our ES short ideas

volume profiles are the "P" pattern in Ym and NQ while the ES seems more symetric based on volume...ES was also trying to lead to new daily highs as YM and NQ weren't following....I still have a short bias and will miss any long trades up here in the 1089.50 area...

NQ has low volume and a gap at 92.50 . 91.50 is the volume hole....for NQ...so long story longer is that I'd rather trade for those holes to fill in then follow this higher

agressive on the 90.50...we have a 5 pack below !!

added at 91.75...88.75 is target....tough time to be fading..this may draw a bit....I have faith...they won't leave the 5 pack for too long but hopefully will do it in RTH and not overnight

Hey Bruce..I had the 92 area to start my shorts...doesn't seem like she wants to roll over?? If you don't mind, how much heat do you usually take when it goes into the overnight session...I usually don't like to hold overnight, but you know sometimes you get trapped!!

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.