US Markets: Real-time Trading

[Eddo]

Hi Richard

Yes I think you were right to do so - either way good luck with it :)

...... thats me out ........ hope you get a good run -

[richbois]

...... thats me out ........ hope you get a good run -

stop at BE i hope that was not to early

[Eddo]

stop at BE i hope that was not to early

... hmmmmmm I got a funny feeling we might go take another look at the 15 min Long again - I see the YM has just stuck in a valid 3 min DP Long

[Eddo]

... hmmmmmm I got a funny feeling we might go take another look at the 15 min Long again - I see the YM has just stuck in a valid 3 min DP Long

.... i'am back in Long on the same AB trade as last time

[Eddo]

.... i'am back in Long on the same AB trade as last time

....... some advice please - I 'am not very good at patterns but is that a 'double bottom' I see on the 3 min AB right inside the Daily DP ?

[d-day]

....... some advice please - I 'am not very good at patterns but is that a 'double bottom' I see on the 3 min AB right inside the Daily DP ?


Not yet a double bottom, but it may be the front leg of one of jjc's fire-breathing dragons, in which case the result, at least short term, is the same - a bounce, if not an outright reversal. However, sometimes the dragon slayer comes by and if the dragon loses its head, "look out below!"

In other words, we are indeed at a "decision point" - unfortunately, it is often necessary to place our bets in advance of the market's decisons. But that is what stop losses are for, right?

I'm short at 1314 and a buddy of mine just got long at 1315 - That is what it means to be a Market. Buyers and Sellers, winners and losers. I'll be a loser at 1318.

[Eddo]

Not yet a double bottom, but it may be the front leg of one of jjc's fire-breathing dragons, in which case the result, at least short term, is the same - a bounce, if not an outright reversal. However, sometimes the dragon slayer comes by and if the dragon loses its head, "look out below!"

In other words, we are indeed at a "decision point" - unfortunately, it is often necessary to place our bets in advance of the market's decisons. But that is what stop losses are for, right?

I'm short at 1314 and a buddy of mine just got long at 1315 - That is what it means to be a Market. Buyers and Sellers, winners and losers. I'll be a loser at 1318.

:) wouldn't it be nice to both be right :) but whilst your looking for St George to come galloping along to slay the Dragon, I hope he falls of his dam horse:)

[d-day]

:) wouldn't it be nice to both be right :) but whilst your looking for St George to come galloping along to slay the Dragon, I hope he falls of his dam horse:)

lol - he did fall off his darn horse lol

[Eddo]

lol - he did fall off his darn horse lol

lol ....... I just hope he stays off it! now Mr Dragon how about some smoke and flames please :)

[d-day]

I'm taking the TS3 short on the 3 minute ES - short at 1317.25

[Eddo]

I'm taking the TS3 short on the 3 minute ES - short at 1317.25

good luck - it does look very juicy so my stop is in very tight on my Long AB - at least I have made my -0.5 R back so if stopped out I will be flat

[Larry22]

I'm taking the TS3 short on the 3 minute ES - short at 1317.25

Great short there indeed d-day, let's not forget wave A = wave C at 1309.50

Laurent

[richbois]

I'm taking the TS3 short on the 3 minute ES - short at 1317.25

I took it to and got out in steps total +2R

[TAS]

Both ES and YM have dropped into the 60min DP, so I am comfortable to take the 5min DP long on the YM...

TAS

[d-day]

Great short there indeed d-day, let's not forget wave A = wave C at 1309.50

Laurent

Thanks Laurent,

I took my customary 3 point minimum on 1/2 the others are now at entry as we have now tested that 1317.25. If we hit it again, I go flat. I know we had that auto DP long on the 3 minute, and I know it is a TTT Buy Day. But I do not like to fade the TVGR.

[d-day]

I took it to and got out in steps total +2R

Nice trading Rich. I still have 1/2 my ES short, and I added a 1/2 position on the ER2 on the TS1 on the 3 minute ER2.

[d-day]

Both ES and YM have dropped into the 60min DP, so I am comfortable to take the 5min DP long on the YM...

TAS


I hope you didn't take a full position on both for a 2R risk.

[TAS]

Both ES and YM have dropped into the 60min DP, so I am comfortable to take the 5min DP long on the YM...

TAS

Well, bets off , but I may re-long shortly...

[richbois]

Nice trading Rich. I still have 1/2 my ES short, and I added a 1/2 position on the ER2 on the TS1 on the 3 minute ER2.

nice trades

i missed that TS1 on ER2 and it was a nice 4R in 9 minutes

[TAS]

I hope you didn't take a full position on both for a 2R risk.

Thank you David for reminding, I normally limit my entry to compromise more lots within 1R and take half off while it reach 2R, so even YM took out the 12054 low, I am still UP overall...

TAS

[TreeShaker]

Laurent, did ER2 15min just finish a 5 wave down pattern?

[TAS]

Laurent, did ER2 15min just finish a 5 wave down pattern?

I shouldn't speak of intead of Larry, but I reckon Larry might show us 13 wave down so far from 725.2 high on 15min ER2 market hour..

TAS

[jjc]

i have PnF support on the DOW at 12022.48 - thats a few hundred points below where we are now - we cud hit that before ur move up

what s/r numbers do you have?

dday- leeda answered ur question a lot better than i ever cud

leeda - im at my buy number now - wish me luck :)

[TAS]

I shouldn't speak of intead of Larry, but I reckon Larry might show us 13 wave down so far from 725.2 high on 15min ER2 market hour..

TAS



15 min ER2 DP long just firing off, I will long if it reach 671.8.

let us see how market plays out in last 2 hours...

TAS

[d-day]

Laurent, did ER2 15min just finish a 5 wave down pattern?

Finished? Is it 16:00 EST already?

[Larry22]

Laurent, did ER2 15min just finish a 5 wave down pattern?

We are now at 13 filtered waves but no confirmation yet on the end of the 13th one.

But we are very close.

I just took half of my position out with profits based on a 500 tick chart (DP long). You also had these signals on 3,5and 15 minutes.


Laurent

[richbois]

Finished? Is it 16:00 EST already?

no it's not 4pm yet :)

on ES we reached the TTT BU for today but not the average decline

on ER and NQ we didnt get there yet

so my thinking we may get an other leg down before end of day rally if we get one

[d-day]

leeda - im at my buy number now - wish me luck :)

We are now at 13 filtered waves but no confirmation yet on the end of the 13th one.

But we are very close.

I just took half of my position out with profits based on a 500 tick chart (DP long). You also had these signals on 3,5and 15 minutes.


Laurent

I'm still short the ES & ER2, and maybe I am succumbing to my own "directional bias" but I do not see a scenario at this point that leads to anything other than a close at or near the LOD today (barring MasterPlanner or CNBC/Gasparino sidelines manipulation). I wish I knew what it is you guys know. Because I have some nice profits on both and my stops are at breakeven. I'll hate to see it all go Poof! but I got to trade it as I see it unless someone or something can convince me I'm playing the wrong odds.

If I haven't been stopped out and we get an ES 5 minute 50/50 close, I'll cover me shorts. Otherwise I'm keeping both arms in the Bear Suit until the close.

[jjc]

I'm still short the ES & ER2, and maybe I am succumbing to my own "directional bias" but I do not see a scenario at this point that leads to anything other than a close at or near the LOD today (barring MasterPlanner or CNBC/Gasparino sidelines manipulation). I wish I knew what it is you guys know. Because I have some nice profits on both and my stops are at breakeven. I'll hate to see it all go Poof! but I got to trade it as I see it unless someone or something can convince me I'm playing the wrong odds.

If I haven't been stopped out and we get an ES 5 minute 50/50 close, I'll cover me shorts. Otherwise I'm keeping both arms in the Bear Suit until the close.


all i can say is, buy support and sell resistance :)

altho i did miss my dow support by hair but nailed it on the spx (as you know)

[d-day]

If I haven't been stopped out and we get an ES 5 minute 50/50 close, I'll cover me shorts. Otherwise I'm keeping both arms in the Bear Suit until the close.


Well there you go ... out at entry on the er2 and out at 1314.25 on the es.

What happened ... did Charlie Gasparino report on a secret non-existant deal to pay off everyone's mortgage and take us all out for dinner lol.

[d-day]

Well there you go ... out at entry on the er2 and out at 1314.25 on the es.

What happened ... did Charlie Gasparino report on a secret non-existant deal to pay off everyone's mortgage and take us all out for dinner lol.


Holy smokes. I went downstairs to check out the CNBC, and who is there talking about yet another phony the monoline bailout - Charlie Gasparino.

How did I guess?

[Larry22]

Well there you go ... out at entry on the er2 and out at 1314.25 on the es.

What happened ... did Charlie Gasparino report on a secret non-existant deal to pay off everyone's mortgage and take us all out for dinner lol.

Sorry for the delay d-day I was busy checking the market and collecting all my profits at the DP.

I will post a pic in a few moments.

Laurent

[TAS]

15 min ER2 DP long just firing off, I will long if it reach 671.8.

let us see how market plays out in last 2 hours...

TAS

So far so good with this 15 min DP long , already take half off at 2R level , balance at B/E and I will fill it up to 1R again if it takes out 14:48 EST high...

Reason for this trade: 15min DP coincides with 60min DP.. also STF already exceeds strength band....

With me good luck...

TAS

[Larry22]

There you go.

15 min ER2 chart with possible low with 13 waves (same as 5) filtered.

I also had divergence on the last 3 lows

Laurent

[TAS]

Thank you larry for the chart, this is what I mean for my trade... I will take the re-loaded half off at 682.6, and leave the rest with MOC....
TAS


[QUOTE=Larry22;15375]There you go.

15 min ER2 chart with possible low with 13 waves (same as 5) filtered.

I also had divergence on the last 3 lows

Laurent[/QUOTE

[Larry22]

Well I hope you know that the 23% retracement from the top to today's low is about 682.8.

So don't be too greedy.


Laurent




Thank you larry for the chart, this is what I mean for my trade... I will take the re-loaded half off at 682.6, and leave the rest with MOC....
TAS


There you go.

15 min ER2 chart with possible low with 13 waves (same as 5) filtered.

I also had divergence on the last 3 lows

Laurent[/QUOTE

[TreeShaker]

Finished? Is it 16:00 EST already?

Waves don't care what time it is when they finish their move. Then it's time for the next wave to show it's stuff. :)

[TAS]

ATR trailing applies now, making sure all my bets are well above the cost, anyway, for me.. chances for TVGR is getting lower and lower today...

TAS


Thank you larry for the chart, this is what I mean for my trade... I will take the re-loaded half off at 682.6, and leave the rest with MOC....
TAS


[QUOTE=Larry22;15375]There you go.

15 min ER2 chart with possible low with 13 waves (same as 5) filtered.

I also had divergence on the last 3 lows

Laurent[/QUOTE

[TreeShaker]

We are now at 13 filtered waves but no confirmation yet on the end of the 13th one.

But we are very close.

I just took half of my position out with profits based on a 500 tick chart (DP long). You also had these signals on 3,5and 15 minutes.


Laurent

That I did, and I took the 5 min DP long, got too close and got stopped out at 1 R, by just a couple of ticks, darn. At least I was on the right track. :)

[Larry22]

Waves don't care what time it is when they finish their move. Then it's time for the next wave to show it's stuff. :)

Yup you said it, I tought we made the low yesterday when we had 9 waves but they decided to extend it to 13, with all the accumulated divergence I knew we would climb and big as we may have the end of wave C here or the first one at least.

All this by simply counting a few waves and checking 2 DP. :D

Laurent

[Larry22]

That I did, and I took the 5 long, got too close and got stopped out at 1 R, by just a couple of ticks, darn. At least I was on the right track. :)

I allways have my stop a few ticks (more then 3) from any low or high, as I hate beeing stopped for nothing.


Laurent

[d-day]

jjc and Laurent, coming at it from two different prespectives, made a great call at the lows today.

My next question is this: So is this the start of the next Bull Market?

I still half expect to finish at the LOD. A remarkable day today - I shall be studying my three minute chart for weeks.

[Larry22]

jjc and Laurent, coming at it from two different prespectives, made a great call at the lows today.

My next question is this: So is this the start of the next Bull Market?

I still half expect to finish at the LOD. A remarkable day today - I shall be studying my three minute chart for weeks.

Today's wave count just gave me a place where I was expecting a rally but, as strange as it seems I just sold the ER2 at 683.7 and took all my profits at 680 as I have to leave.

I will try to give explanations on my wave counts later tonight.

Laurent

[TAS]

Well, MOC for my ER2 long from the low of the day, I do appreciate David's TTT buy day bias giving me added confidence for my bigger DP based trade.

6.5 R totally, flat and fat!

TAS


[QUOTE=TAS;15377]Thank you larry for the chart, this is what I mean for my trade... I will take the re-loaded half off at 682.6, and leave the rest with MOC....
TAS

[TAS]

tomorrow Will Be A Brand New Day, So Keep Up The Homework!

[leeda]

leeda - im at my buy number now - wish me luck :)

great call jjc - we didnt close below my LAST support of 050 for the dow and that rally sure did come in!

i'll do a review shortly and see wot we get but the candlestick is a bullish hammer (i prefer these 2 da candle we had yest which i sed i was wary about!)

[leeda]

personally i fink we're gonna drop a bit more at least but there are 'signs' that we could get a decent move up shortly, guess we'l have to wait and see![/QUOTE]

well done 2 all who caught that move up :)

[Larry22]

I'm still short the ES & ER2, and maybe I am succumbing to my own "directional bias" but I do not see a scenario at this point that leads to anything other than a close at or near the LOD today (barring MasterPlanner or CNBC/Gasparino sidelines manipulation). I wish I knew what it is you guys know. Because I have some nice profits on both and my stops are at breakeven. I'll hate to see it all go Poof! but I got to trade it as I see it unless someone or something can convince me I'm playing the wrong odds.

If I haven't been stopped out and we get an ES 5 minute 50/50 close, I'll cover me shorts. Otherwise I'm keeping both arms in the Bear Suit until the close.

d-day, as per your request let me show you why I tought we were maybe at a key turning point on the last low on both the ES and ER2.

I will start with the ES, if you look at the first chart 60 min you will see that we had reached the 100% wave A = wave C (1309.50) but we also had reached a big DP from wave (2B) to (1A) so we had 2 target at this level for a possible rally.

Second chart is a 15 min, I have labelled the filtered waves and like the ER2 we also had 13 waves (same as a 5 waves) and we can clearly see that we had a big divergence coming from both indicators stochastic and MACDBB so this was a clear sign that the market was way oversold and that a big bounce was on it's way.

Now the big question how big is the rally gonna be, as I have previously said I expect the market to go higher then the first 1A wave labelled in blue. I may be wrong but I will watch closely on the 15 min to see how the waves are gonna unfold and see if it's in a corrective pattern or impulse. Still we have a long way to go.

This could also be the first impulse wave down and we could make a correction and go lower, time will tell.

Laurent

[Steve Griffiths]

Well, MOC for my ER2 long from the low of the day, I do appreciate David's TTT buy day bias giving me added confidence for my bigger DP based trade.

6.5 R totally, flat and fat!

TAS


[QUOTE=TAS;15377]Thank you larry for the chart, this is what I mean for my trade... I will take the re-loaded half off at 682.6, and leave the rest with MOC....
TAS

Hi Tas,

Good analysis there - you are totally correct in that you spotted that the larger degree charts (15min and 60min) were at DP support and as such you started nibbling on the long side on the shorter-term (3 and 5min) charts for the actual trade entry.

And the result - a nice +6R profit for you.... :)

So very well done, excellent analysis, you used the larger degree picture perfectly there.......

Steve

PS. I think I will use this as one of the examples in my "Advanced Training" Webinar today, as there are still too many traders who do not know the position of the larger degree charts.

PPS, I know a number of other traders on the board were also trading along these same lines yestertday, so well done to you all as well

[Matt Bowen]

Keep an eye on the Daily charts... We might be trying to "Hammer" out a short term bottom. The NASDAQ is already long on the overnight session. Turn off your filters in the EOD software and you can see these in the scanner.

[d-day]

a hundred bottles of beer on the wall, a hundred bottles of beer! Take one down, pass it around, ninety-nine bottles of beer on the wall!

[Larry22]

a hundred bottles of beer on the wall, a hundred bottles of beer! Take one down, pass it around, ninety-nine bottles of beer on the wall!


99 bottles of beer on the wall, ninety-nine of beer! Take one down, pass it around, ninety-eight bottles of beer on the wall. :D

[Larry22]

Believe it or not I was able to buy a few times and take based on tick charts.


Laurent

[d-day]

Does anyone else find it exceedingly strange that just as the noon our strikes hear on the Eastern seaboard (US that is) the market attempts to break out of its two and one half hour trading range?

[Stefan61200]

... damn I got stopped out for 3 pips at the TS3 YM 3 mins. And now it is going northwards without me. :mad:

[Eddo]

Does anyone else find it exceedingly strange that just as the noon our strikes hear on the Eastern seaboard (US that is) the market attempts to break out of its two and one half hour trading range?

.......... indeed it is but often we get a flurry of movement on the hour don't we - in particular 14:00 EST which I have always thought was because that is around when the pro traders come back to their offices after a nice long lunch :)

[TAS]

Manual DP short YM...

TAS

[d-day]

.......... indeed it is but often we get a flurry of movement on the hour don't we - in particular 14:00 EST which I have always thought was because that is around when the pro traders come back to their offices after a nice long lunch :)

Well looks like today a bunch of pikers must have built up a goodly number of buy stops above the market for the pros to sell into thus securing for said pros the funds for an extra long extravagant lunch whilst they await the Fed's Beige Book at 2PM EST.

Alas, poor me.

Now, back to my filet mignon and lobster tail.;)

See you all at 2PM.

[Eddo]

Manual DP short YM...

TAS

........... did the same thing on the AB 3 min - short 4 me 2

[TAS]

........... did the same thing on the AB 3 min - short 4 me 2

Good luck Eddo, I am not sure if this is the final direction Pros are going to lead after 2pm, what I can say is some of them may have been back earlier than normal and I just do what the chart is telling me to do... Do YOU ?

Cheers,

TAS

[Eddo]

........... did the same thing on the AB 3 min - short 4 me 2

.. well TAS its still relatively early days but with the Trin trending towards the Red and bear country and about halfway to my first tgt I feel we might have bagged some more R's :)

[jjc]

manual dp on 3min es worked for me

[TAS]

.. well TAS its still relatively early days but with the Trin trending towards the Red and bear country and about halfway to my first tgt I feel we might have bagged some more R's :)

Indeed, as per my game plan, I've taken some off at 12257 while it reach 2R .....temporary..

TAS

[richbois]

Does anyone else find it exceedingly strange that just as the noon our strikes hear on the Eastern seaboard (US that is) the market attempts to break out of its two and one half hour trading range?

well today again these moves at 12 were due to your friend Gasperino and Anbak being halted

he leek the news but its not offical yet that will be the next bump

it helped make the TTT sell day average upper goal on ES and NQ

[Eddo]

well today again these moves at 12 were due to your friend Gasperino and Anbak being halted

he leek the news but its not offical yet that will be the next bump

it helped make the TTT sell day average upper goal on ES and NQ

Did you take the Short manual trades Richard - and do you see how the Trin looks like its trending north up into bearland ?

[Eddo]

Did you take the Short manual trades Richard - and do you see how the Trin looks like its trending north up into bearland ?

......... and then we get an 'on the hour' flurry - and stopped out :(

[richbois]

Did you take the Short manual trades Richard - and do you see how the Trin looks like its trending north up into bearland ?

no didnt take anything yet today but i see what you mean with the trin allthough i thought it had to be black or red to short but i see you take it in the turn

thanks

[Eddo]

no didnt take anything yet today but i see what you mean with the trin allthough i thought it had to be black or red to short but i see you take it in the turn

thanks


yes thats right .......... ideally you want it to be black or red to go short .......... but I also work on the direction it trends - which today (so far) was trending from the Blue up towards the Red which makes me think the Trin trend is changing - today I reckon that was to a Short bias

[TAS]

yes thats right .......... ideally you want it to be black or red to go short .......... but I also work on the direction it trends - which today (so far) was trending from the Blue up towards the Red which makes me think the Trin trend is changing - today I reckon that was to a Short bias

Agreed, I might hold rest of my YM position a bit longer...look at that promising strength band...

TAS

[Eddo]

Agreed, I might hold rest of my YM position a bit longer...look at that promising strength band...

TAS

...... yup ........ my AB got stopped out at B/E on the 'hour flurry' - I re-entered short immediately and am holding with +2R in the bag so far - good luck to us I say :)

[Eddo]

...... yup ........ my AB got stopped out at B/E on the 'hour flurry' - I re-entered short immediately and am holding with +2R in the bag so far - good luck to us I say :)

...... just a warning however is that the AB has slammed back into its Daily DP so it could support here

[TAS]

...... just a warning however is that the AB has slammed back into its Daily DP so it could support here

Daily Dp is far from here, EDDO.

Anyway, I think we all eagerly expect Larry to come on board to point out possible wave count so far and ONWARDS...

Thank a million to everyone for input.

TAS

[Eddo]

Daily Dp is far from here, EDDO.

Anyway, I think we all eagerly expect Larry to come on board to point out possible wave count so far and ONWARDS...

Thank a million to everyone for input.

TAS

.... no its not Tas - the AB Daily Dp from the 22n Feb Low is right where we are now I think you will find - just be careful around here I think

[Eddo]

.... no its not Tas - the AB Daily Dp from the 22n Feb Low is right where we are now I think you will find - just be careful around here I think

....... a picture is worth a thousand words !

[TAS]

.... no its not Tas - the AB Daily Dp from the 22n Feb Low is right where we are now I think you will find - just be careful around here I think

Right, right, caution is advised...

TAS

[Eddo]

Ok folks - I have a 5 am start and another of those awful 300 mile round trip journeys on England's ever filling motorways tomorrow so I have covered with a nice +3R gain on the Dax earlier and another couple of R on the AB this aft ...

....... so I'am flat, fat and happy and wish you all good trading for the remainder of the day ........... keep an eye on the longer time period DP's folks :)

Chris :)

[d-day]

Ok folks - I have a 5 am start and another of those awful 300 mile round trip journeys on England's ever filling motorways tomorrow so I have covered with a nice +3R gain on the Dax earlier and another couple of R on the AB this aft ...

....... so I'am flat, fat and happy and wish you all good trading for the remainder of the day ........... keep an eye on the longer time period DP's folks :)

Chris :)


quitter!

;)

Be safe and be well,

d-day

[Larry22]

Daily Dp is far from here, EDDO.

Anyway, I think we all eagerly expect Larry to come on board to point out possible wave count so far and ONWARDS...

Thank a million to everyone for input.

TAS


Looking for me. :D

We have made wave 1 hourly and 15 minutes, so we are in wave 2, that's why the market is now moving sideways, we are doing base consolidation.

I have bought the 3 min abc (TS1) and following with my trailing stop loss and watching on lower time frames .

Not much more to say for now we have to wait.

Laurent

[TAS]

Looking for me. :D

We have made wave 1 hourly and 15 minutes, so we are in wave 2, that's why the market is now moving sideways, we are doing base consolidation.

I have bought the 3 min abc (TS1) and following with my trailing stop loss and watching on lower time frames .

Not much more to say for now we have to wait.

Laurent

Thank you Larry, I am still keeping some of my HOD YM short, so far ATR (close, 0) sits at 12236ish , which will guarantee 3.5 R net gain on this YM short trade.

TAS

[TAS]

I do admit I may hand out more, but NO GIVE NO TAKE as long as I am in this well risk-controlled winning ride...

TAS

[TAS]

Thank you Larry, I am still keeping some of my HOD YM short, so far ATR (close, 0) sits at 12236ish , which will guarantee 3.5 R net gain on this YM short trade.

TAS

Mission done,
Good trading to U all

TAS

[d-day]

TS3 short on the 3 minute NQ just triggered short at 1753

[TAS]

TS3 short on the 3 minute NQ just triggered short at 1753

Me as well.

TAS

[TreeShaker]

TS3 short on the 3 minute NQ just triggered short at 1753

I'm with you Dave

[d-day]

I'm with you Dave

We are right now at 1349.75 and I'm bailing

[d-day]

I'm done. These Sell days are often tough sledding for me - lots of whipsaws and lots of ranging. Im sure on tick charts I could have done more, but I'm happy sticking to my 3 minute. I'll be back tomorrow looking for some good plays on the TTT Short Sale Day

[AndyvB]

I was in and bailed just in time. Now watch it drop....Hard day for trading...

[d-day]

I was in and bailed just in time. Now watch it drop....Hard day for trading...

Hi there Andy,

How have you been? Where have you been?! Great to "see" you again.

d-day

[AndyvB]

Been poking away at this trading and reading your interesting posts almost everyday...I admire you for posting so often David..I am in awe that you do it so often, but I am sure there are lots of readers out there who post little but read here every day. Using MTP together with divergence rules....Thanks for posting David!

Hi there Andy,

How have you been? Where have you been?! Great to "see" you again.

d-day

[TreeShaker]

I guess I will start off the day. Into ES long 3min chart at 1006 hrs. Not doing too good. :(

[TreeShaker]

I guess I will start off the day. Into ES long 3min chart at 1006 hrs. Not doing too good. :(

Out for sm loss. :(

What happened to all those Taylor forcast?

[d-day]

Out for sm loss. :(

What happened to all those Taylor forcast?

Unless I lost count, Woodrumbler, today is a Short Sale day per TTT.

[TreeShaker]

Unless I lost count, Woodrumbler, today is a Short Sale day per TTT.

Thank You Dave.

[Larry22]

We have to be patient as second waves are consolidation phase.

Until now I had no reason to be a buyer, I only had sell signals.

Laurent

[TreeShaker]

We have to be patient as second waves are consolidation phase.

Until now I had no reason to be a buyer, I only had sell signals.

Laurent

Thank you Laurent. I was hoping you and Dave would post.

[d-day]

We have to be patient as second waves are consolidation phase.

Until now I had no reason to be a buyer, I only had sell signals.

Laurent

Hi Laurent,

I was first short, then long at the 30 minute DP (ER2) for a brief spell, and then short and still short.

Lots of choppy, small overlapping waves on this decline. Where is the point below which the wave 2 scenario comes under pressure and we start looking for a larger decline?

Thank you,

d-day

[Larry22]

I will send you en e-mail on this for the ER2 wave count as for the ES wave 2 scenario is still plausible..

Laurent

[TAS]

Brave enough to take the YM 3 min 12:15 EST long, hoping ER2's new low would bring us some minor rebound into opposing DP...

TAS

[AndyvB]

Brave enough to take the YM 3 min 12:15 EST long, hoping ER2's new low would bring us some minor rebound into opposing DP...

TAS
You are BRAVE....

[TAS]

You are BRAVE....

2pm, bigboy back.

TAS

[shapoklya]

I will send you en e-mail on this for the ER2 wave count as for the ES wave 2 scenario is still plausible..

Laurent

Laurent, is it possible for you to post it in the forum, so that others can learn?:)
I am sure that I would not be the only one who would appreciate it :D

Thank you for your other posts, very informative.

[TAS]

Brave enough to take the YM 3 min 12:15 EST long, hoping ER2's new low would bring us some minor rebound into opposing DP...

TAS

Though finally B/E on my YM long while ER2 ts3 firing off, I was wrong and brave enough to move to next...

2nd appreciate Laurant's wave count on ES wave 2 if it can hold the low of the day before...

TAS

[d-day]

"On the average trading day without inter-session news ... the stock makes this low on the Short Sale Day and then trades around this point and closes fairly 'flat' and then opens down, the next day and sells a little under this low on a Buying Day, the decline just seems to 'level off' here ... where we buy our Long stock." George Douglass Taylor, The Taylor Trading Technique

As today was a Short Sale Day with the Trader Vic Gap Rule in effect (save for the NQ, which filled its gap quickly at the open), it was an easy day to look for shorts and avoid longs (unless you're willing to be nimble, and trade for targets such as the 20 or 34 ema's to take profits and not insist on trailing every trade with the ATR stop). The TS3 on the 3 minute ER2 would still have you short and up almost 6R so long as you waited for price to come back and test the entry as resistance prior to moving your stop to breakeven.

We'll have to see whether or not the Bulls will be able to bringtheir "A" game for tomorrow's buy day or whter, as Taylor cautions is sometimes the case, further price concessions may be forthcoming prior to a rally. We do have a rather significant piece of inter-session news tomorrow, the non-Farm payroll data at 8:30 AM EST.

Have a good night, all.

d-day

[TreeShaker]

"On the average trading day without inter-session news ... the stock makes this low on the Short Sale Day and then trades around this point and closes fairly 'flat' and then opens down, the next day and sells a little under this low on a Buying Day, the decline just seems to 'level off' here ... where we buy our Long stock." George Douglass Taylor, The Taylor Trading Technique

As today was a Short Sale Day with the Trader Vic Gap Rule in effect (save for the NQ, which filled its gap quickly at the open), it was an easy day to look for shorts and avoid longs (unless you're willing to be nimble, and trade for targets such as the 20 or 34 ema's to take profits and not insist on trailing every trade with the ATR stop). The TS3 on the 3 minute ER2 would still have you short and up almost 6R so long as you waited for price to come back and test the entry as resistance prior to moving your stop to breakeven.

We'll have to see whether or not the Bulls will be able to bringtheir "A" game for tomorrow's buy day or whter, as Taylor cautions is sometimes the case, further price concessions may be forthcoming prior to a rally. We do have a rather significant piece of inter-session news tomorrow, the non-Farm payroll data at 8:30 AM EST.

Have a good night, all.

d-day

Thanks for the post Dave

[jjc]

leeda - remember my support on the dow? well, we need to hold here or we go to 11660

gl

[unkelmark]

If i can add in my 2 cents of opinion based on some charts i've been following for 3 yrs.

As we all know, the SP500 is the broadest index, and its weighted heaviest with financials. If you bring up a chart of SPY and overlay your chart with the XLF (financials) you see a direct correlation. (i constantly watch the 60 minute chart to get direction of where the XLF is going to lead the SPY)

Now look at a daily chart of just the XLF, see that it has hit lower support today. Tomorrow if it breaks below 24.10 i hope we all are short.

David is correct in that we need to be conscious about the non farm payrolls report., If that report is positive? this is the level for a large bounce to the upside.

But then its FRIDAY! and the big $$ doesnt like to be long over the weekend cause Osama Bin Forgotten(terrorism) is still on the loose.


Tomorrow is going to be dramatic.

[jjc]

If i can add in my 2 cents of opinion based on some charts i've been following for 3 yrs.

As we all know, the SP500 is the broadest index, and its weighted heaviest with financials. If you bring up a chart of SPY and overlay your chart with the XLF (financials) you see a direct correlation. (i constantly watch the 60 minute chart to get direction of where the XLF is going to lead the SPY)

Now look at a daily chart of just the XLF, see that it has hit lower support today. Tomorrow if it breaks below 24.10 i hope we all are short.

David is correct in that we need to be conscious about the non farm payrolls report., If that report is positive? this is the level for a large bounce to the upside.

But then its FRIDAY! and the big $$ doesnt like to be long over the weekend cause Osama Bin Forgotten(terrorism) is still on the loose.


Tomorrow is going to be dramatic.

XLF needs to hold 24.13 or it goes to 23.25


gl

[d-day]

... but the Bear Suit is cleaned and pressed and draped over the back of my chair ready for service. Long the ES at 1391.50 in the pre-market but trading very very small. We'll see what happens.

Good luck to all who trade today,

d-day

[d-day]

... but the Bear Suit is cleaned and pressed and draped over the back of my chair ready for service. Long the ES at 1391.50 in the pre-market but trading very very small. We'll see what happens.

Good luck to all who trade today,

d-day

Ok, let's call my stop at 1391 for a two tick risk. If I get stopped there, no biggie. And I will have took my shot, at any rate. I will then look for Ms Market to give me a sign.

[richbois]

Ok, let's call my stop at 1391 for a two tick risk. If I get stopped there, no biggie. And I will have took my shot, at any rate. I will then look for Ms Market to give me a sign.

nice trade so far i gotta thrust these TTT #s a biy more :)

[d-day]

nice trade so far i gotta thrust these TTT #s a biy more :)

Giddy-up!

I will be mindful of the gap - I like to take profits on expansion bars and reload on pullbacks. It is indeed a Buy Day, but it is also a Bear market, so I do not need to play hero and hold all the way up and then for a possible all the way down.

[d-day]

... but the Bear Suit is cleaned and pressed and draped over the back of my chair ready for service. Long the ES at 1391.50 in the pre-market but trading very very small. We'll see what happens.

Good luck to all who trade today,

d-day

But I haven't zipped it up yet, and that Bear Suit is still on the back of my chair should I need it. If es gets comfy above 1308, I'd be inclined to zip up and get comfy myself.

[d-day]

i gotta thrust these TTT #s a biy more :)

As my good buddy, jjc, always reminds me, "You gotta dance with the one that brought ya'"

[Eddo]

nice trade so far i gotta thrust these TTT #s a biy more :)

Hey Richard

Your TTT spreadsheet had the Russell poss low for today at 652.72 - I reckon we turned at around 654.9 - which I think is impressive :)

[TreeShaker]

Ok, let's call my stop at 1391 for a two tick risk. If I get stopped there, no biggie. And I will have took my shot, at any rate. I will then look for Ms Market to give me a sign.

Dave are you talking about the ES, because it is around 1290 at start of day, no where close to 1391. :confused:

[d-day]

Dave are you talking about the ES, because it is around 1290 at start of day, no where close to 1391. :confused:

Don't be confused, Timberrattler. Of course I mistyped and I should have had 1291.50. I'm just not used to the ES trading in the 1200's yet. Think about it, though - if I had been long at 1391, I would feeling anything but bullish. I'd probably be more likely to be feeling suicidal;)

[d-day]

But I haven't zipped it up yet, and that Bear Suit is still on the back of my chair should I need it. If es gets comfy above 1308, I'd be inclined to zip up and get comfy myself.

ZZZZZZZZIIIIIIIIIIIIIIPPPPP!

[richbois]

Hey Richard

Your TTT spreadsheet had the Russell poss low for today at 652.72 - I reckon we turned at around 654.9 - which I think is impressive :)

ya its uncanny how close it was and if you use the 24hour session low prediction was 652.92 and low was 653.10
on ES 1289.63 low was 1288

close enough for government work as they say

now if i can just get my brains to tell my fingers to push the button at the open i would doing good now instead of waiting for signal

Richard

[TreeShaker]

ZZZZZZZZIIIIIIIIIIIIIIPPPPP!

So if it's a buy day and the mkt is clearly in an uptrend, why would you put on the bear suit? :confused:

[d-day]

Hey Richard

Your TTT spreadsheet had the Russell poss low for today at 652.72 - I reckon we turned at around 654.9 - which I think is impressive :)

Richard has done some very impressive work with the TTT - puts me to shame, literally:o . Richard definately goes directly to the top of the class.
But, in my defense, I do not have Richards' talent for and background in numbers.

Now I hope you are keeping a TTT book too, Eddo. There really is no better way to really learn TTT than by doing keeping the book just as Taylor teaches.

[d-day]

So if it's a buy day and the mkt is clearly in an uptrend, why would you put on the bear suit? :confused:


I'm not even going to answer that, Treemugger. You need to go back and follow my posts so that you can see which suit I was talking about.

[richbois]

Richard has done some very impressive work with the TTT - puts me to shame, literally:o . Richard definately goes directly to the top of the class.
But, in my defense, I do not have Richards' talent for and background in numbers.

Now I hope you are keeping a TTT book too, Eddo. There really is no better way to really learn TTT than by doing keeping the book just as Taylor teaches.

Thank you but we have different talents you teach and know TTT and i just do spreadsheets

[Eddo]

Richard has done some very impressive work with the TTT - puts me to shame, literally:o . Richard definately goes directly to the top of the class.
But, in my defense, I do not have Richards' talent for and background in numbers.

Now I hope you are keeping a TTT book too, Eddo. There really is no better way to really learn TTT than by doing keeping the book just as Taylor teaches.

Hi David

Oh yes I have tried to start my own spreadsheet but Richards was lightyears better than mine so I am a 'Richbois' user - been keeping a book on ES, AB, YM and the FTSE - the only thing he and I haven't yet been able to fathom fully is the relevance of High First or Last bit - I keep reading and re-reading 'the TTT book' but still manage to get myself into all sorts of confusion. However I know which day is what and the spreadsheet is coming up with some very close numbers which I find really impressive - actually Richard should be selling it I think :)

Chris

[Eddo]

Hi David

Oh yes I have tried to start my own spreadsheet but Richards was lightyears better than mine so I am a 'Richbois' user - been keeping a book on ES, AB, YM and the FTSE - the only thing he and I haven't yet been able to fathom fully is the relevance of High First or Last bit - I keep reading and re-reading 'the TTT book' but still manage to get myself into all sorts of confusion. However I know which day is what and the spreadsheet is coming up with some very close numbers which I find really impressive - actually Richard should be selling it I think :)

Chris

BTW - ment to say re the numbers - at the end of trading last night I had a possible low for today on the FTSE (Z H8-EE1) of 5644 - at 13:39 GMT is hit its LOD of 5643 .......... now thats impressive :)

[d-day]

Hi David

However I know which day is what and the spreadsheet is coming up with some very close numbers which I find really impressive - actually Richard should be selling it I think :)

Chris

I agree. Richard should sell it. But he should only sel it to folks who have read TTT first. Maybe he could put together a test to screen potential prospects first. My plan this weekend is to transfer my Book completley over to his forms. I also have only been keeping the cash SPX. But I think I may start a T-Bond book and an ER2 book as well. But as for the excel form itself, I too am a richbois user. So, Chris, maybe you and I could be charter members of the first richbois User Group!

[TreeShaker]

I'm not even going to answer that, Treemugger. You need to go back and follow my posts so that you can see which suit I was talking about.

OK, I got it. I thought you took the bear suit off of the back of your chair. That's what I get for thinking too much. LOL

[Eddo]

I So, Chris, maybe you and I could be charter members of the first richbois User Group!

............ absolutely - and bring Steve G into it as well because I am sure (if he hasn't seen it yet) that he would be fasincated by it as well and who knows, perhapse could in some way be incorporated into MTP which is in my view already a fabby piece of kit :)

[d-day]

Thank you but we have different talents you teach and know TTT and i just do spreadsheets


I know I have posted this before, and jjc reminds us also from time to time - The Unforgotten MTPredictor Feature is the reversal bars.

I have attached a chart of the 3 minute ES that shows how looking for a bullish candlestick formation with the appropriate reversl bar color can be MIB - money in the bank.

Now, unlike Friar William and Leeda, I am not a great student of candlesticks. However, I do know enough to know that the second 3 minute bar was bullish. Also, we had super bullish divergence on my favorite daytrading stochastic, the 5,3,3.

And it is a Buy Day. Remember - the cycle does not change. The day is what it is because of an enduring cycle, not because of what price does or does not, did or did not do. And as I mentioned to laurent this morning, my best Buy Day trades have been those where blood was literally running in the streets in the overnight and pre-market. I would have bought even lower than I did in the pre-market, but I was out this morning and when by the time I got the puter fired up, it was what it was and that was my fill on a market order.

As jjc also says, "Plan your trade and trade your plan." On a buy day, the plan is to buy, so, I bought. And I added with that blue MTP reversal bar with a bullish candlestick and stochastic divergence.

[jands]

Hi All TTT enthusiasts,

I just finished reading TTT for the first time and it is very interesting. It has explained some things that I have observed and clarified them. It is definetly an aid to MTP.

For the book, are ya'll using the 24hr numbers or the regular session numbers to calculate the D's, R's, BU's, etc?

I have yet to start the book in excel, I just need a weekend off to start.

Thanks for your help, and thanks for all the posts,

Jim

[Eddo]

I know I have posted this before, and jjc reminds us also from time to time - The Unforgotten MTPredictor Feature is the reversal bars.

I have attached a chart of the 3 minute ES that shows how looking for a bullish candlestick formation with the appropriate reversl bar color can be MIB - money in the bank.

Now, unlike Friar William and Leeda, I am not a great student of candlesticks. However, I do know enough to know that the second 3 minute bar was bullish. Also, we had super bullish divergence on my favorite daytrading stochastic, the 5,3,3.

And it is a Buy Day. Remember - the cycle does not change. The day is what it is because of an enduring cycle, not because of what price does or does not, did or did not do. And as I mentioned to laurent this morning, my best Buy Day trades have been those where blood was literally running in the streets in the overnight and pre-market. I would have bought even lower than I did in the pre-market, but I was out this morning and when by the time I got the puter fired up, it was what it was and that was my fill on a market order.

As jjc also says, "Plan your trade and trade your plan." On a buy day, the plan is to buy, so, I bought. And I added with that blue MTP reversal bar with a bullish candlestick and stochastic divergence.

...... a very nice clear explanation and thanks for it David .......... of course today none of us needed anything other than a Television tuned to CNBS - the doom, thegloom and the end of the world they were broadcasting from 'the place the sun don't shine' was clearly going to lead to nothing other than an early market reversal ............. QED :) :D

[Eddo]

...... a very nice clear explanation and thanks for it David .......... of course today none of us needed anything other than a Television tuned to CNBS - the doom, thegloom and the end of the world they were broadcasting from 'the place the sun don't shine' was clearly going to lead to nothing other than an early market reversal ............. QED :) :D

......... and I notice that now the gurus are telling us 'of course a market rally was expected' .............. which is a sure fire reason to be thinking me might be riding for a fall later in the day .............

[Eddo]

Hi All TTT enthusiasts,

I just finished reading TTT for the first time and it is very interesting. It has explained some things that I have observed and clarified them. It is definetly an aid to MTP.

For the book, are ya'll using the 24hr numbers or the regular session numbers to calculate the D's, R's, BU's, etc?

I have yet to start the book in excel, I just need a weekend off to start.

Thanks for your help, and thanks for all the posts,

Jim

Hi Jim

I am using the regular session numbers

[jands]

Hi Jim

I am using the regular session numbers

Thanks Eddo,

Good luck today,

Jim

[richbois]

Hi All TTT enthusiasts,

I just finished reading TTT for the first time and it is very interesting. It has explained some things that I have observed and clarified them. It is definetly an aid to MTP.

For the book, are ya'll using the 24hr numbers or the regular session numbers to calculate the D's, R's, BU's, etc?

I have yet to start the book in excel, I just need a weekend off to start.

Thanks for your help, and thanks for all the posts,

Jim

I have done both 24hrs and Day session and there is some difference in the #s however when you average each one and compare the results its pretty close

I started with 24hr data as it is much simpler to copy and paste anydata you have then to read all the candles

[Eddo]

BTW - ment to say re the numbers - at the end of trading last night I had a possible low for today on the FTSE (Z H8-EE1) of 5644 - at 13:39 GMT is hit its LOD of 5643 .......... now thats impressive :)

.......... I should have also added that MTP also 'predicted' today's low on the FTSE today ............... and at 13:39 as well - :)

[Eddo]

I have done both 24hrs and Day session and there is some difference in the #s however when you average each one and compare the results its pretty close

I started with 24hr data as it is much simpler to copy and paste anydata you have then to read all the candles

Richard,

I get all my O,H,L.Close data downloaded each night by QCollector for eSignal (for my EOD MTP) - that data is nicely tabulated and very easy to then 'insert' into the spreadsheet -

Chris

[richbois]

Richard,

I get all my O,H,L.Close data downloaded each night by QCollector for eSignal (for my EOD MTP) - that data is nicely tabulated and very easy to then 'insert' into the spreadsheet -

Chris

Chris

i also have Qcollector and that is how i started the book now at the end of each day at 4:15 to 4:29EST i copy the yellow data in the sheet which is the live data into the book however if i miss that deadline then i do what you do

for the day session its more work

Richard

[jands]

I have done both 24hrs and Day session and there is some difference in the #s however when you average each one and compare the results its pretty close

I started with 24hr data as it is much simpler to copy and paste anydata you have then to read all the candles

Thanks for your time as well Rich,

Good luck today,

Jim

[TreeShaker]

How is everyone doing in their bear suits? I tried a ER TS3 long on the 3min at 1118hrs. Down 1R. :(

[Steve Griffiths]

.......... I should have also added that MTP also 'predicted' today's low on the FTSE today ............... and at 13:39 as well - :)

Hi Eddo

Yep, that was quite cool.......... to nail that low perfectly.

But then look what happened - a rally right into the "opposing DP", absolutely perfect - right out of the MTP training manual :)

Steve

[Eddo]

Hi Eddo

Yep, that was quite cool.......... to nail that low perfectly.

But then look what happened - a rally right into the "opposing DP", absolutely perfect - right out of the MTP training manual :)

Steve

........ yes indeed .... for me the lack of divergance kept me out at that point, but the fact is MTP got it again :)

[Steve Griffiths]

How is everyone doing in their bear suits? I tried a ER TS3 long on the 3min at 1118hrs. Down 1R. :(

Hi Treeshaker,

The best fitting Bear suit I can see so far today is on the NQ, the 2min Chart in particular, please see below. The TS4 sell nailed the high of the day for you here.

Steve

[Steve Griffiths]

........ yes indeed .... for me the lack of divergance kept me out at that point, but the fact is MTP got it again :)

Hi Eddo

I agree, the best "divergence" around that time was the low on the 3min DAX, see below.

Steve

[Steve Griffiths]

PS, there was divergence on the 5min FTSE, albeit using some "manual analysis"

Still a scary tarde though....

Steve

[TreeShaker]

You're right about the NQ Steve, but I made a mistake, I meant bull suit. So how is everyone doing in their bull suits?

[Eddo]

PS, there was divergence on the 5min FTSE, albeit using some "manual analysis"

Still a scary tarde though....

Steve

..... yes sorry I didn't mean the first DP (I saw the div for that one) it was the second one I ment i.e. the DP it ran up too - which nailed it perfectly but at that point I didn't go Short because of the lack of div there (if you follow my drift!)

Chris

[edfash]

since we follow Taylor, some vintage Rashke is in order today. the am session which follows a trend day is anticipated to have good 2 way trading. the setups she teaches are based upon the ES 5 min chart and occur at the BB's (day session only). today the day session gapped down below the 5 min lower BB seeting up a buy, the target is the midline of the BB's or the 5sma. the 2nd trade was at the upper BB which coincided with a DP on my trusty 1600 tick chart, again the minimal target is the 5sma, but following standard MTPredictor exit rules worked out far better. these trades are valid in the am session only following a range expansion trend day.

[TreeShaker]

For a buy day I sure have taken a beating going long. Went long ES 2min DP at 1208hrs, down another 1R. :(

[d-day]

since we follow Taylor, some vintage Rashke is in order today. the am session which follows a trend day is anticipated to have good 2 way trading. the setups she teaches are based upon the ES 5 min chart and occur at the BB's (day session only). today the day session gapped down below the 5 min lower BB seeting up a buy, the target is the midline of the BB's or the 5sma. the 2nd trade was at the upper BB which coincided with a DP on my trusty 1600 tick chart, again the minimal target is the 5sma, but following standard MTPredictor exit rules worked out far better. these trades are valid in the am session only following a range expansion trend day.

Hi there Ed,

First of all, nice to see you - I doubt I am alone in wishng you'd share more of your observations with us. Certainly adding some "vintage Raschke," which often seems to me to be like a very sophisticated blend of Taylor and Crabel, is a very good thing; and I wish I would be more disciplined to apply her work to my own use of Taylor.

With respect to the BB'sand the 5 sma - are you saying that the BB's are set to 5? I myself typically limit my use of BB's to daily charts and I usuaully use what I take to be a standard setting - a 20 period sma with bands pltted 2 standard deviations above and below the sma. Is the approach you are showing here using BB's set to 5?

Very, very good stuff, and thank you for sharing it with us.

Thank you,

d-day

[d-day]

For a buy day I sure have taken a beating going long. Went long ES 2min DP at 1208hrs, down another 1R. :(


I don't know where you've been buying Treeman, but you have to pick your spots. For example, on the two minute ES (which I myself do not usually look at), I see an auto DP forming at the 88.6% retrace of this mornings rally. That was good enough for me to go in at the market and buy some more ES at 1394.

If you are going to trade with MTP-style one tick stops below the entry bar, you need to pick MTP-spots to enter.

I see now that the DP is gone - most likely because the RR factor got blown up as the ES rocketed almost 5 points from the fib support level (but not without spending plenty of time ranging right just above there to give even slow poke guys like me the chance to get an order entered). Pick your spots - as jjc (are you starting to get the idea that I think jjc is a purdy smart trader?) as he says, "Buy Support and Sell Resistance, Dude!"

[edfash]

thank you for your kind words david. it is my pleasure to share whatever i might have to offer, just as others on this forum do.

the chart that Linda bases her Z day (really am session only, she arbitrarily draws the line at 11am ET) is the day session 5 min ES with standard default BB's and the midline being the 20 period simple ma. she teaches that the first 2 or 3 touches trigger countertrend trades and the exit is the midline. as initially taught the trade did not have a stop, but most traders use a stop a 3 point stop. these trades are very high probability (not sure of the statistics although they certainly exist as the lbr group maintains statistics on all their trades to see if things change.

what i look for (being hooked on MTP) is the combination of a DP at these BB bands for an awesome trading opportunity. if that does not occur i require divergence and try to use a shorter time frame for entry.

[edfash]

just another thought about Z days. the concept of a Z is that trade is on both sides of the open, a trend may develop in the afternoon session. this concept makes trend continuation setup less likely to be successful than they might be at other times. i try to focus on DP's only. i put manual DP levels on all my charts trying to look for reversal areas.

another trade the Rashke group teaches on a Z day is that the first breakout from the first 60 min range reverses back into that range. again a DP would be very helpful in identifying a reversal zone.

the DP on the 1600 tick ES chart that triggered at the 5min BB, has offered almost 20 ES points of potential profit.

[edfash]

this is on NT which shows the trade more clearly

[TreeShaker]

I don't know where you've been buying Treeman, but you have to pick your spots. For example, on the two minute ES (which I myself do not usually look at), I see an auto DP forming at the 88.6% retrace of this mornings rally. That was good enough for me to go in at the market and buy some more ES at 1394.

If you are going to trade with MTP-style one tick stops below the entry bar, you need to pick MTP-spots to enter.

I see now that the DP is gone - most likely because the RR factor got blown up as the ES rocketed almost 5 points from the fib support level (but not without spending plenty of time ranging right just above there to give even slow poke guys like me the chance to get an order entered). Pick your spots - as jjc (are you starting to get the idea that I think jjc is a purdy smart trader?) as he says, "Buy Support and Sell Resistance, Dude!"

Dave, I am not smart enough to use entries other than MTP, and my DP was an auto, not a manual. Right now the 2min ES has 4 auto DPs and all have failed except 4th which is still running. My first trade was ER TS3 with trend, stoc indicating that trend would continue, but it didn't. Now I'm a little gun shy. :(

[TreeShaker]

For the Taylor experts, what is happening today? If this is a buy day, why are we diving to the bottom? Is that part of a buy day cycle?

[d-day]

Dave, I am not smart enough to use entries other than MTP, and my DP was an auto, not a manual. Right now the 2min ES has 4 auto DPs and all have failed except 4th which is still running. My first trade was ER TS3 with trend, stoc indicating that trend would continue, but it didn't. Now I'm a little gun shy. :(

Does the 2 minute usually make you money? Or does it more often yield bushels of signals with a low hit rate? I do prefer the three minute of MTP signals.

[richbois]

For the Taylor experts, what is happening today? If this is a buy day, why are we diving to the bottom? Is that part of a buy day cycle?

if i understand TTT it was a buy day but the objective was met at 1311.xx then i guess its fair game

i guess we are so close to January lows we need testing

[jjc]

XLF needs to hold 24.13 or it goes to 23.25


gl

XLF low came in at 23.80

[TreeShaker]

Did anyone get into the YM low of the day DP, which is going up nicely now? YM had 3 failed signals at that point so I didn't have the courage to take it, but if someone did, what convinced you the down trend was over?

[richbois]

Did anyone get into the YM low of the day DP, which is going up nicely now? YM had 3 failed signals at that point so I didn't have the courage to take it, but if someone did, what convinced you the down trend was over?

i ried 3 times and got stopped 3 times then gave up on ES i guess 4 times is a charm

[TAS]

XLF low came in at 23.80

Hi J, U touchdown again!

One quesion, did U ever talk about SELL NEW MOON (Gann's theory)? Since tomorrow Sat. is the day of NEW MOON and no trading at all, would we consider the general downbeat (so far today, though TTT buy justifies itself by its rally in 1st hour of trading...) as the well-prepared Pros positioning themselves for NEW MOON feast...?

Well ... let's add spicy into this NOT TOO EASY BUSINESS...

As I type, market seems to rebound into minor DP, looking for shorts.....

TAS

[TAS]

i ried 3 times and got stopped 3 times then gave up on ES i guess 4 times is a charm

Sometimes we need to be brave, but this bounce starts somewhat below the DP, so I might consider this to be minor...

TAS

[davidh]

Did anyone get into the YM low of the day DP, which is going up nicely now? YM had 3 failed signals at that point so I didn't have the courage to take it, but if someone did, what convinced you the down trend was over?

Hi Treeshaker,
Yes, got in on 15 min DP but not going to hang around as 60 min ADX/DMI still very neg
Have a good weekend
David

ps I use dmi peaks to assess divergence, 15 min chart on 24 hours

[TAS]

Sometimes we need to be brave, but this bounce starts somewhat below the DP, so I might consider this to be minor...

TAS

Well, we see initial sign of finding resistance, let's see how we play out heading NEW MOON...:D

TAS

[d-day]

ER2 sell stop 661.6 stop loss 663.4 (current price 662.3) watching the close of the 15:39 EST bar (bar now closed)

See is the bears got anything left in them.


EDIT: similar pattern on ES says sells top at 1295.25

[d-day]

Hi J, U touchdown again!

One quesion, did U ever talk about SELL NEW MOON (Gann's theory)? Since tomorrow Sat. is the day of NEW MOON and no trading at all, would we consider the general downbeat (so far today, though TTT buy justifies itself by its rally in 1st hour of trading...) as the well-prepared Pros positioning themselves for NEW MOON feast...?

TAS

jjc's e-mail to me YESTERday:

-----Original Message-----
From: pnfguywantsnospam@noneofyourbiz.net
Sent: Thursday, March 06, 2008 12:16 PM
To: d-day
Subject: new moon - sell day

not to mention new moon, sell day :)

That jjc knows his stuff, I'd say.

[d-day]

ER2 sell stop 661.6 stop loss 663.4 (current price 662.3) watching the close of the 15:39 EST bar (bar now closed)

See is the bears got anything left in them.


EDIT: similar pattern on ES says sells top at 1295.25

Take off half here at the 50 sma basis the 3 minute chart (filled 659.1) and stop loss on other half at 1 tick better than entry (stop at 661.5).

Nice way to end the day.

Update: Covered at 34 ema as that candle was forming a bullish look and a nice MTP blue reversal hue.

I'm out. Have a great weekend everyone!

[d-day]

Did anyone get into the YM low of the day DP, which is going up nicely now? YM had 3 failed signals at that point so I didn't have the courage to take it, but if someone did, what convinced you the down trend was over?

i tried 3 times and got stopped 3 times then gave up on ES i guess 4 times is a charm

When the market starts making these creeping down drafts or creeping up moves, I have found that it is often helpful to wait for price to make a DP low, a pullback high, then a higher low, followed by a higher reaction high before I commit to long. The success rate goes up even more if you wait for what I call a mini-flag and others call a drift pattern. Usually a 2-5 bar pattern of contracting ranges, contracting volume, pulling back against the anticipated trade direction.


The ER2 gave us this in the 14:24-14:54 EST price pattern (3 minute), and the ES gave us a low, a reaction, and a mini-bull (bull flag bars 14:48, 51, 54, with buy stop above either the 14:48 bar (conservative) or 14:54 bar (aggresive).

No time to post charts - family time for me right now. I'll try to post later or Monday.

Have a good weekend.

[richbois]

When the market starts making these creeping down drafts or creeping up moves, I have found that it is often helpful to wait for price to make a DP low, a pullback high, then a higher low, followed by a higher reaction high before I commit to long. The success rate goes up even more if you wait for what I call a mini-flag and others call a drift pattern. Usually a 2-5 bar pattern of contracting ranges, contracting volume, pulling back against the anticipated trade direction.


The ER2 gave us this in the 14:24-14:54 EST price pattern (3 minute), and the ES gave us a low, a reaction, and a mini-bull (bull flag bars 14:48, 51, 54, with buy stop above either the 14:48 bar (conservative) or 14:54 bar (aggresive).

No time to post charts - family time for me right now. I'll try to post later or Monday.

Have a good weekend.

have a good weekend

[TreeShaker]

Does the 2 minute usually make you money? Or does it more often yield bushels of signals with a low hit rate? I do prefer the three minute of MTP signals.

I will usually check 5, 3, 2 min. in the alerts. If I get a 2 min. signal I will look the higher time frame to see how the charts look. Going back over my trades today, the ER on the 3 min. TS3 didn't have diverg. at all, I looked at it wrong and shouldn't have taken it, other than I thought it was in the direction of the mkt. The second trade on ES 2 min DP was picture perfect. Lots of diverg (a triple) at floor trader support level, a DP zone from 15 min chart, but it didn't read the rules and went against me. After that there were 3 more failed DPs that I didn't take. All of them had good diverg. In the last hr had to look to YM because IB said Globex was having data feed problems and the charts were crazy. YM had a good DP on 3min I think, but after watching all those failed signals that looked good, I passed and it was the one to go. All and all I had a bad week, dozed off during some good trades and my bad out weighed my good.

[Larry22]

When the market starts making these creeping down drafts or creeping up moves, I have found that it is often helpful to wait for price to make a DP low, a pullback high, then a higher low, followed by a higher reaction high before I commit to long. The success rate goes up even more if you wait for what I call a mini-flag and others call a drift pattern. Usually a 2-5 bar pattern of contracting ranges, contracting volume, pulling back against the anticipated trade direction.


The ER2 gave us this in the 14:24-14:54 EST price pattern (3 minute), and the ES gave us a low, a reaction, and a mini-bull (bull flag bars 14:48, 51, 54, with buy stop above either the 14:48 bar (conservative) or 14:54 bar (aggresive).

No time to post charts - family time for me right now. I'll try to post later or Monday.

Have a good weekend.

Very good observation my friend, for the ER2 I had a small edge as the Globex low was 653.1 early this morning.

I had an order at 6 ticks from the low as this was low risk and I also had stochastic divergence, what more could I have asked. Oh waiter 2 more beer please. :-)

Laurent

[jjc]

jjc's e-mail to me YESTERday:

-----Original Message-----
From: pnfguywantsnospam@noneofyourbiz.net
Sent: Thursday, March 06, 2008 12:16 PM
To: d-day
Subject: new moon - sell day

not to mention new moon, sell day :)

That jjc knows his stuff, I'd say.

i may have a few tricks up my sleeve but i dont hold a candle to ;
you (dday)
larry22
eddo
davidh
richbois
treeshaker
leeda
edfash
pegasus
friar william
raj kumar (who i would like to see come back and post)
steve
matt

and all the other fine folks who take the time out to share their thoughts, experience and wisdom

its us against them (big money) and if we could just step in front of them once in a while or ride their coat tails, huh?

have a good weekend all

[jjc]

i may have a few tricks up my sleeve but i dont hold a candle to ;
you (dday)
larry22
eddo
davidh
richbois
treeshaker
leeda
edfash
pegasus
friar william
raj kumar (who i would like to see come back and post)
steve
matt

and all the other fine folks who take the time out to share their thoughts, experience and wisdom

its us against them (big money) and if we could just step in front of them once in a while or ride their coat tails, huh?

have a good weekend all

oh and must'n forget tas :)

[d-day]

oh and must'n forget tas :)

And then there's qitrader, AndyB, AlexG, ToddM, TAR001, tombtrader, and many others who used to post regularly but who have been far too absent for far too long. And what ever happened to Gillian? Where have you been Gillian?

And of course there's Rama, who seems lately to have been seduced by the dark side of the For(ex)ce and has strayed from our real-time e-mini thread - I miss his insightful posts as he is one of the best divergence traders I've seen.

A great bunch of folks - you all have made me a better trader for having met you.

[d-day]

Very good observation my friend, for the ER2 I had a small edge as the Globex low was 653.1 early this morning.

I had an order at 6 ticks from the low as this was low risk and I also had stochastic divergence, what more could I have asked. Oh waiter 2 more beer please. :-)

Laurent

Nice trading, Laurent. I also use limit orders to get me into trades at times (I especially like 88.6% retracements on the ER2 with stochastic divergence). Today was not one of those days where I went that route, though in hindsight (so clear now;) ) I should have been there with you. Now go easy on the beers - the opening bell rings in a mere 62 hours or so.

[G Fryer]

And what ever happened to Gillian? Where have you been Gillian?...

A great bunch of folks - you all have made me a better trader for having met you.

I'm here... trying to get my new office and mayhem back in order. Going through my 'issues,' stuff like that. I finally realized that I can't stand that whistle alert sound... it drive me nuts, so I have to change every chart by hand. Half the times my settings don't stick and I am getting weird software corruption, which disabled my radarsceen for a couple of days, although it looked like it was working. I'm not sure what is Tradestation stuff, Vista stuff, and emulation stuff... but the last month has been frustrating, especially when I look at all the trades I didn't see at the time. Grrr.

Well, there's always another day and something to learn from it. I really appreciate all the input everyone gives here. This is an invaluable part of the MTP package. I guess this is the MTP community, isn't it? Well, I am honored and humbled to be a part of it.

Have a great weekend all,

Gillian

[rrs]

And of course there's Rama, who seems lately to have been seduced by the dark side of the For(ex)ce and has strayed from our real-time e-mini thread - I miss his insightful posts as he is one of the best divergence traders I've seen.

A great bunch of folks - you all have made me a better trader for having met you.

Hi David,

Thanks for your kind words.

Let me assure you that I read this e-mini thread every day, particularly your messages on TTT. Your contributions on this subject has inspired and motivated me to dust off my copy of Taylor's book and make a serious attempt to read and understand the contents of this book. I purchased my copy nearly four years ago, and it was gathering dust in my bookshelf until you highlighted the usefulness of Taylor's method for intraday traders.

I agree with you entirely when you say Taylor's writing style is very hard to follow and in some places hard to comprehend. Since you have spent more than a year reading and understanding his book and very successfully practice his technique, you are, in my humble opinion, well qualified to write the definitive book on TTT for dummies, like me, and call the book "Taylor's Trading Technique For Dummies"! Writing a book, particularly a readable book, is not an easy task. Having co-authored a technical book for a university press, I know the cost (in terms of time) and the effort involved in writing a good book. Not only will I buy your book, I will be very happy to proof-read and help in any way I can. I hope you will consider this suggestion, if your professional and family commitments allow you to do so.

As to the matter of being "been seduced by the dark side of the For(ex)ce", let me reassure you that I have not succumbed to the seductive effects of For(ex)ce! Spot Forex market offers me some distinct advantages in terms of time and trade management -- (I live on the West Coast --in Pacific Time Zone). In addition, this is a market that I understand well and it has rewarded me very well for my efforts every year. There are lots of other reasons why I pay a little bit more attention to this market.

Since my professional and family commitments have severely curtailed my intraday trading of e-mini markets, I have also been busily exploring and researching several other promising ideas that involve using MTP as a trading tool on its own and in combination with other systems on longer tome frames (e.g. End Of Day). If any of these projects (including the one on use of cycles plus MTP) turn out to be good I will certainly post the results here. In addition, I have also been exploring the idea of trading, using MTP, the full / big stock index contracts using the continuous contracts. I have been scanning them and paper trading them for some time. Here is an example of a trade that MTP (NT version) identified in the Russell 2000 contract (Point Value = $500 and Tick = $25) on December 26th, 2007. The the series of charts attached to this message illustrate the course of this trade and the subsequent one that followed it and the issues related to management of these two trades. They also illustrate how using the system of rules described in chart 3 and MTP as a trading tool, one could have anticipated this type of trades and subsequently managed them successfully. The first trade yeilded, at the third profit target, $76,500 and the second trade (currently open) has a value of $60,550. Both these trades were in synchrony with the general trend of Russell 2000. There is

[rrs]

Hi David,

Here is rest of the previous message that got cut off:

These charts have some useful information that I could further elaborate. But, let me stop here. Otherwise, the message may become too long for the message board software to handle.

Sincerely,

Rama.

[TreeShaker]

Does anyone have money on the table? What is the Taylor and EW forecast?

[Eddo]

Does anyone have money on the table? What is the Taylor and EW forecast?

Hi Treeman - today is a ttt Sell Day (doesn't mean you gotta go short remember) but look for trades on both sides with tomorrow being a Sell Short Day

[richbois]

Does anyone have money on the table? What is the Taylor and EW forecast?

That is my TTT calculation for today the sell day

ES
Possible HIGH for Sell Day 1315.57 based on Rally from low on BD
Possible HIGH for Sell Day 1324.43 based on Ave Penetration on SD
Possible LOW for Sell Day 1260.68 based on Ave Buy Violation

ER2 or AB

Possible HIGH for Sell Day 675.05 based on Rally from low on BD
Possible HIGH for Sell Day 674.61 based on Ave Penetration on SD
Possible LOW for Sell Day 641.39 based on Ave Buy Violation

NQ

Possible HIGH for Sell Day 1729.17 based on Rally from low on BD
Possible HIGH for Sell Day 1745.75 based on Ave Penetration on SD
Possible LOW for Sell Day 1653.91 based on Ave Buy Violation

[TreeShaker]

Thanks for the reply Eddo & Richard.

[Raj Kumar]

Hello,

May be i get a lot of heat for this :-) But ES 15 min had 3 pushes Down; and on a DP Buy;
Careful of Short term Shorts;;;

[Raj Kumar]

ES on 3 min TS1; Watching it as Low Risk entry for 15 min Opposite DP Play...

--Raj

[edfash]

thanks for the post raj, i hope posting sound observations on price action will not get you in trouble.

btw there are also 30/60/120 min buy divergences, fwiw.

[Raj Kumar]

FWIW...YM on 2/4 min TS4/TS1 as well

[Raj Kumar]

Long YM TS1 on 4 mins @829; Stop 813

[Raj Kumar]

Long 5 min DP on ES...

[Raj Kumar]

Crappy day today; -1R in 3 min NQ TS3; -1R on 4 min YM TS1; and a scratch on 5 min ES DP.... Creepy Down markets; Well...There is always tomorrow....
--Raj

[TAS]

Yesterday we were supposed to play on both sides and take VALID & MEANINGFUL trades down the way, OR we simply ignore such SELL DAY.

DO or NOTHING, I reckon we will even out in the long run. What makes a difference is how we position ourselves in the other 2 parts of the CYCLE just as how we angle harbour kings (Kingfish) here in Sydney to top our barbucue...

Have a good mid-week.

TAS:)

[TAS]

Short ES pre-market at 1305.5, initial stop 1309.75.

TAS

[TAS]

Short ES pre-market at 1305.5, initial stop 1309.75.

TAS

Initial stop has been lowered to 1306.5, which is 1 tick above session high, and I might take some off at 1389.5, which is 50% retracement if the high so far today holds, also the level is 1 point above yesterday afternoon's rebound high, resistance becomes support, thus safe to bail out...

TAS

[AndyvB]

Short ES pre-market at 1305.5, initial stop 1309.75.

TAS
Great trade TAS, what made you enter the trade...??? We could have also continued higher...??? Thanks for any comments.

[scooper]

The ES was also a short opening DP trade (manual) on the 3 min chart. I took profit from 1303.25 at 1296.50 which my own home brewed support level.

Net R on that one for me was 1.9.R

First trade back in ages, so I relieved it was a winner.

I did not trade yesterdays ES 3Min TS2 as I was trying to be clever and avoid a loser (to up my win rate) which mean I missed out on a good 3 to 4 R.

We will have to see if it runs further down and gives us an ABC correction for a possible long entry which is my preferred direction based on the 15 min trend.

[jjc]

NEW YORK - Wall Street rebounded sharply Tuesday after the Federal Reserve and other central banks said they will pump $200 billion into the financial markets to help ease the strain from the credit crisis. The Dow Jones industrials surged nearly 250 points.


might want to be careful with shorts today?

[Raj Kumar]

2 min TS1 Short on ES; Market corrected oversold nature and should decline IMHO....

[TreeShaker]

Richard and/or Dave, what does Taylor say for today, and how would it be applied in view of the big jump up this morning?

[Raj Kumar]

My Game Plan if not stopped out is to run 1/2 targeting @95.5 for 2.8 R and rest use ATRStop to Trail...See how it unfolds....

[TAS]

Great trade TAS, what made you enter the trade...??? We could have also continued higher...??? Thanks for any comments.

Hi AndyvB,

This was the confluence of

1. Dp from 15min 15:15 bar of last Friday and
2. structural level corresponding to 15min 14:00 bar of last Tuesday, which was major low of that push down from Feb 27, this SUPPORT had been broken and now market rebound to test it as RESISTANCE...

I am flexible if a valid TS buy triggers I might reverse without hesitation...otherwise stick to my gun to 1289.5 at least...

I am sorry for none of such picture attached as I am running MTP forum on separate PC..

TAS

[richbois]

Richard and/or Dave, what does Taylor say for today, and how would it be applied in view of the big jump up this morning?

today is a Sell Short Day and for ES
Possible HIGH for Sell Short Day 1305.43 based on Ave Penetration of SD

Tas nailed it and MTP DP was right on

now i am not an expert on what to do in this case as i didnt finish reading the book

Dave would probably say something to the effect of TVGR

so i cant say much more

[jjc]

hope TTT is wrong today cuz im long from 5min ES ts3 1298.75 with target of 1314 - stop 95.25

[TAS]

Done as said I reverse at 1299 on ES 5min trigger, 6.5 points gain on ES so far, looks a long way to go before the close:)

TAS


[QUOTE

I am flexible if a valid TS buy triggers I might reverse without hesitation...otherwise stick to my gun to 1289.5 at least...

TAS[/QUOTE]

[TAS]

hope TTT is wrong today cuz im long from 5min ES ts3 1298.75 with target of 1314 - stop 95.25

Well J, I hope the same but does TVGR overrides TTT on today's PARTICULAR case.

Where is D-day ?

TAS

[jjc]

Well J, I hope the same but does TVGR overrides TTT on today's PARTICULAR case.

Where is D-day ?

TAS

said he was having puter probs

[Raj Kumar]

Did not get filled in @95.5 Bid; Targeting 92.5 now instead of 95.5 for Typical Wave C Profit on Partials and trailing ATRStop Close, 0 Ratchet

[Raj Kumar]

Stop to 95.5 now on partials

[jjc]

hope TTT is wrong today cuz im long from 5min ES ts3 1298.75 with target of 1314 - stop 95.25

stopped on 5min es ts3 - question, is TTT superior?

[richbois]

stopped on 5min es ts3 - question, is TTT superior?

i believe Dave thinks TVGR is stronger but dont quote me

[Raj Kumar]

Got 2.9R on partials; Stop on rest to 98.75 which would be almost a scratch.
ES on 5 min TS3 here....Hmmm...

[TAS]

stopped on 5min es ts3 - question, is TTT superior?

Me out and then in again at 1295.75 based on 11:20 5min blue bar.

Sometimes we need to be BRAVE...

I think STEVE's KISS will prevail, just stick to the things which are valid...

TAS

[jjc]

Me out and then in again at 1295.75 based on 11:20 5min blue bar.

Sometimes we need to be BRAVE...

I think STEVE's KISS will prevail, just stick to the things which are valid...

TAS

i'l try it one more time too - im with you at one point higher

[Raj Kumar]

The thing though is Market found resistance at 15 min Opposing DP and we are in a downtrend. So, if Higher Timeframe kicks in ES could go to 86.25 which would be a Yummy 8R.

[jjc]

Me out and then in again at 1295.75 based on 11:20 5min blue bar.

Sometimes we need to be BRAVE...

I think STEVE's KISS will prevail, just stick to the things which are valid...

TAS

stopped again - the only thing getting kissed is my r's

[TAS]

stopped again - the only thing getting kissed is my r's

Question left for me is why I didn't hold on my pre-market short which was based on much larger time frame...

TAS

[scooper]

:D stopped again - the only thing getting kissed is my r's

I got stopped on that one as well but reversed on stop signal. Just got filled at Rajs 86.5 ... Ta Raj good call

[TAS]

Can someone tell if XLF had hit the DP and it might lead SPX going higher oern Daily basis before it reaches 31ish...?

thanks for reply if U are interested in this much weighted sector.

TAS:)

[richbois]

Can someone tell if XLF had hit the DP and it might lead SPX going higher oern Daily basis before it reaches 31ish...?

thanks for reply if U are interested in this much weighted sector.

TAS:)

the daily DP for XLF is at 23.39 to 22.60 low yesterday was at 23.50

i added the day data for you use MTP EOD to look at it

[TAS]

the daily DP for XLF is at 23.39 to 22.60 low yesterday was at 23.50

Much appreciated Richard!;)

TAS

[scooper]

Short ER2 @ 658.8 on TS3 5 min signal. Not confident in this one but lets see

[jjc]

:D

I got stopped on that one as well but reversed on stop signal. Just got filled at Rajs 86.5 ... Ta Raj good call

i got some of it back on a non mtp trade - cci set to 14 did a nice divergence when we did that double bottom at 11:50cst on the es 5min

[jjc]

say, if any of you guys want a free auto-refresher for windows so you dont have to hit the f5 button or new posts all the time you can go here and get it


http://www.windowsmarketplace.com/details.aspx?view=info&itemId=19736

[scooper]

Short ER2 @ 658.8 on TS3 5 min signal. Not confident in this one but lets see

Stopped out. Not surprised as my short term count indicated the C wave was a wave 3 advance. Guess everyone else avoided tha