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

got the 94.25 and have two left...as usual no great place to put the stops...Ideally I want way down into the 988.50 area but we need to respect this consolidation until we know otherwise...no longs though for me....so basically may be risking 4 points for 6 points target..and so it goes...

Bruce...would you mind elaborating on why it would be risky to go for triples around the open balance??

the opening range had the highest amount of volume today...they like to test and reject that often...the opening one minute low had the potential to stop the triples from being run...In hindsight it is a good trade but I would have prefered it to drop a bit lower before buying that one.....this way would could have taken some profit BEFORE the triple was run and then hold runners to getthe triple...hope that makes sense...in other words the triple was just too close to another potential resistance area.....

I;m currentlt trying to get this current triple run..so I'm oviosuly short again......5 short campaigns today....

Nq making new RTH highs but not es or YM...nice shorts at the Window but more important than the window, projections etc is that key 1100...we can come up with other reasons but they're watching that...so sells still in play at this price

If we can stay under this 1812-1814 area on NQ then we have the potential to go all the way to 1800..for us ES players we need to resolve 96.75 to make new daily lows....I'm surprised we haven't cleaned up that 988.50 area yet this week...key word...YET! No commitment on the long side until that resolves..I'm a better seller anyway..

So far we are still stuck in the hour range...it won't stay like that ..lots of up days this week..we are overdue for the high to low day...

Wow..didn't take long to get those triples at 98 after hours!! My timing must be terrible!!! The plan was to get short around 1107-08 area..oh well!!

trading for the 06 retest from the plus 8- 10 area...

06.50 begaN THE LOW/HIGH VOLUME TEST...fyi..KEY AREA NOW

Bruce could you be kind enough to explain the triple trading concept clearly supported by some charts. Also which chart to use 1 min or 5 min. The info is in this thread but scattered all over and difficult to follow.

I'll do Bruce a solid here and save him the extra work. Try here, ak:

http://www.mypivots.com/Board/Topic/2163/1/running-triples

I think that is a great thread where Bruce generously laid it all out. BTW, how did I find this? I put 'running the triples' in the search function for the forum. One can also find it just searching for 'triples'. But, I had a leg up because I recalled the original descriptive thread was called 'running the triples'. I hope this helps.

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.