US Markets: Real-time Trading

[Larry22]

Reason for not selling this morning was very easy for me as both ER2 and ES had both 5 waves up from yesterday's low.

So for me the side to be on was long until a wave 3C or a B wave up unfold. If anyone wanted to attemtp a short you had to be ready to take quick profits and lowering your stop loss to breakeven quickly.

ER2 allready made a new high since it has allways been more bullish then ES, the big question is will the ES make a new high before the Fed minutes or a big B wave instead, can't say for now.

The patttern was so obvious in ER2 and ES ?????

[scooper]

Well, stop B.E on the ES at the 3rd attempt and I see if you had left it then it would be a -1R. Hard day, creeping up.

[Larry22]

I also forgot to mention that both had gaps opening and that both gaps got filled but not broken so this combined with other analysis tools was a sign of great strenght.



Laurent

[scooper]

Reason for not selling this morning was very easy for me as both ER2 and ES had both 5 waves up from yesterday's low.

So for me the side to be on was long until a wave 3C or a B wave up unfold. If anyone wanted to attemtp a short you had to be ready to take quick profits and lowering your stop loss to breakeven quickly.

ER2 allready made a new high since it has allways been more bullish then ES, the big question is will the ES make a new high before the Fed minutes or a big B wave instead, can't say for now.

The patttern was so obvious in ER2 and ES ?????

Yes, the larger wave is the issue. Any shorts on quick B.E or not at all.

[scooper]

I also forgot to mention that both had gaps opening and that both gaps got filled but not broken so this combined with other analysis tools was a sign of great strenght.



Laurent

That's a great point. I had never considered that. Thanks a lot, something to add to your analysis for sure!

[scooper]

Wow, just reviewing the NQ and I see a TS2 long was signalled......anyone else get that?

I did not get that at all. I would have been all over it like a rash....!

[edfash]

ascending wedge

[Minor]

TS3 setting up on ES 15 min, 1240 signifacant area:)

[Larry22]

The market is behaving just as expected forming the 3C wave up, as previously mentionned we had 5 waves up yesterday forming wave 1A then we had 2B at the end of the day so today we got 3C.


Laurent

[scooper]

Agreed, this is also the first 35+ point rally from a low on the ES in the wave 5 down on the daily.

The wave B area was only hit during main session (low on the session on Globex was 1202.50) which is why the picture is a little muddy for me.

Good call Laurent. I hope you got long. I have taken 1 long continuation trade and still running at moment on approx 1.5R. I am not looking to close it until the end of the day (my stop is not a B.E yet). I either lose on it or cash in at the close as its a strong day.

Shame, I missed the ER2 pullback in 5 waves on the minor scale as I was looking to get long. Then again, we all have to eat at some time (those who are this -Europe- side of the pond).

[scooper]

Well, at 2.7R right now, could be a good day me thinks!

Stop moved to ATR stop now.

A lot of you should have made many R today.

The continuation on the ER2 3 min was easy but saying that you need some b***s to buy a market in a wave 5 up on a 3 min chart. Still, looking good!

[richbois]

Some of you knew what to expect today from last night's report

Even on SS day it doesn't always mean to sell

that was last night's report

Tomorrow will be the SS day and the end of the 3 day cycle. Therefore we have 87% chance of getting above 1224.74 at some point, in order to get a 3 day positive rally. We also have a 56% chance of making a new low and also 56% of making a new high.

then we went on to the projected high

[scooper]

Nice, a 3.6R at the close for me. See attached chart.

Two trades, 1 at B/E and 1 at 3.6R.

Not a bad day but I am sure some of you did a lt better.

See ya all tommorow!:D

[kbandtheriptides]

Hi all, I'm KB, a fellow MTP /ninja trader,
new to the active forum..
been watching for a few months.. just starting to "speak" here..
It's nice not to feel alone at my "trading desk" and I hope I can contribute at some point...mostly I've just been listening to you seasoned traders...
it seems most of the members here now have got it together...
I really hope to learn from you..
talk with you soon,
thanks.
KB :cool:

[TAS]

Welcome KB,

It's really nice to have some music coming along after day-trading...

VERSATILE !!!

cheers,

TAS

[Minor]

Well There were many clues yesterday on the 15 min;)

[scooper]

We appear to be gapping at the open into some DP resistance areas on the minis. Little late for me to snap the charts etc now and post them

Support on SPX is now 1241 (then 1219) and resistance 1261 (then 1287) and the ES has typical wave 3 and DP areas on the hourly at 1262-1266 area. TTT is showing possible high at 1259 so in synergy as well.

The Globex sessions have taken us up to levels above typical major wave C on the minis as well. The question is will we close the gap at the open or rally into the major DP areas?

Who knows, but we have to be prepared for anything as usual!:eek:

[Larry22]

We appear to be gapping at the open into some DP resistance areas on the minis. Little late for me to snap the charts etc now and post them

Support on SPX is now 1241 (then 1219) and resistance 1261 (then 1287) and the ES has typical wave 3 and DP areas on the hourly at 1262-1266 area. TTT is showing possible high at 1259 so in synergy as well.

The Globex sessions have taken us up to levels above typical major wave C on the minis as well. The question is will we close the gap at the open or rally into the major DP areas?

Who knows, but we have to be prepared for anything as usual!:eek:


Well I rarely do that but I sold the ES at 1258 (1258.75 actual high) and took profit at 1248. I sold for 3 reason first 1258.50 was one of my projection, second 1259 was the TTT projected high and third we had a TS4 on the 5 min so that was easy to take a quick decision and sell. :D


Laurent

[scooper]

Nice trade Laurent, I did not get the TS4 setup, shame, I was on the hunt for it around that price as well. I did sell the ER2 on a max wave 5 on the 3 min and rode it for 2.3R. Not a strict MTP trade but I felt it was controlled enough.

I am now long the YM following the gap being closed on the 3 min chart. The entry before the gap being closed ws one I avoided and it failed. Time will tell if this entry works or not. I think it was worth a try as the gap is closed.

Time will tell.

[Minor]

This TS4 has some high hopes

[scooper]

Good start to the TS setups chaps, let see if these are winners! All we have to do now is manage the trade, the easy part is done!

[Minor]

TS4 is on its way:) This is the ES 3 min

[scooper]

Good start to the TS setups chaps, let see if these are winners! All we have to do now is manage the trade, the easy part is done!

And as Mr Griffiths says if its going to fail anywhere it will be the decision point from the B wave.......lets see if the B wave DP holds or not.....should be a free trade anyway now. My stop is a B.E.

[scooper]

Another assault on the DP in progress. Come on lads:)

[Minor]

No MOMO on ES. hasPB way before B wave:confused:

[scooper]

Yep, its lunch time in the US as well, favourite time for them to take out the Atr stops or nip out a new low/high......too far away from highs/lows so maybe target the Atrs?

Who knows, its a free punt anyway as they say in Emerald Isle:D

[kbandtheriptides]

Thanks for the updates of what your watching ..
I did take the 3rd signal TS2 on the es (at 11:12am / confirmed at 11:15)..
I did not take the first two as my stochastic cross did not confirm the buy..
and we had a gap up open .. BE now..
I'd post charts but don't know how ..yet..
later..
KB

[scooper]

YM having a crack at that DP again right after a perfect ABC correction.......will it make it through????

[Minor]

added to trade, its not goin up fast enough, LOL

[scooper]

Well, looking good now, it looks like this might turn out nicely - taking a time though.....:(

[scooper]

Opposing DP setup comes in as well with good divergence. So I have now switched to the ATR 3 minute stop........

[Minor]

Made it through b wave

[jay21]

Opposing DP setup comes in as well with good divergence. So I have now switched to the ATR 3 minute stop........

Hey Scooper,

interesting what you do with the ATR there - so you switch to ATR when you reach opposing DP-area, and you don't use ATR before that as I understand it - if you did you would obviously had been stopped out early on this trade...? - how do you manage the trade before that, are you willing to let it go to a full loss?

Tks,
Johan

[Steve Griffiths]

ES reached target

Good trading there Guys. looks like you are all taking home some nice profits today :)

Good trading, well done

Steve

[scooper]

Well, I have closed out at 11370 for 6R.

Over 8R net for today means I am taking the rest of the day off.

This may run further to 11415 area but I am done. Time to relax and chill.

Good trading all, may the force be with u:)

[scooper]

Hey Scooper,

interesting what you do with the ATR there - so you switch to ATR when you reach opposing DP-area, and you don't use ATR before that as I understand it - if you did you would obviously had been stopped out early on this trade...? - how do you manage the trade before that, are you willing to let it go to a full loss?

Tks,
Johan

Hi Johan,

Well, I was already up from my ER2 trade by 2R. This one was a class A setup and I did not want to run the ATR until it had moved into impulsive mode (by that I mean large high volume bars).

With the DP I was wary as the longer term charts, 15 min and 60 min are all indicating a larger move in the longer term.

Hence, with a guaranteed profit (psychologically good) and not wanting a premature exit you have to let these type of setups run to at least the first level of resistance before moving your stop. I know it is hard to do. You have to learn to risk and it is VERY hard. Especially if you are down on the day/week. I struggled with it for a year or more.

After that, once we broke the DP it was probable that we were looking at an impulsive move to new highs. At that point I then switched my stop to the ATR as I can see the market is impulsive and should not take out the ATR unless the trend changes.

To be fair MTP v6 actually had a huge part in this trade - I posted the ABC correction for you guys and you can see it reversed just on cue. From there if the DP does not hold it was a very good bet that new highs were only a while away.

I hope that helps you understand my rationale.

As I write the ATR will still keep you in this one and if you are long from the original entry still you must run with this now......and I do now I may have left some on the table but I'm comfortable with my exit and profit. I am all too aware of my own psychology and now its time for me take the money and run again

Good trading

[Minor]

Flat everything is bells and whistles with DP shorts:)

[jay21]

Hi Johan,

Well, I was already up from my ER2 trade by 2R. This one was a class A setup and I did not want to run the ATR until it had moved into impulsive mode (by that I mean large high volume bars).

With the DP I was wary as the longer term charts, 15 min and 60 min are all indicating a larger move in the longer term.

Hence, with a guaranteed profit (psychologically good) and not wanting a premature exit you have to let these type of setups run to at least the first level of resistance before moving your stop. I know it is hard to do. You have to learn to risk and it is VERY hard. Especially if you are down on the day/week. I struggled with it for a year or more.

After that, once we broke the DP it was probable that we were looking at an impulsive move to new highs. At that point I then switched my stop to the ATR as I can see the market is impulsive and should not take out the ATR unless the trend changes.

To be fair MTP v6 actually had a huge part in this trade - I posted the ABC correction for you guys and you can see it reversed just on cue. From there if the DP does not hold it was a very good bet that new highs were only a while away.

I hope that helps you understand my rationale.

As I write the ATR will still keep you in this one and if you are long from the original entry still you must run with this now......and I do now I may have left some on the table but I'm comfortable with my exit and profit. I am all too aware of my own psychology and now its time for me take the money and run again

Good trading

Thanks a bunch for the additional explanation Scooper. I suppose what it boils down to a lot is confidence in your analysis that the original setup was really a good one. Plus obviously it helps if you are already profitable on the day to risk profits the way you explain here.

Hey - enjoy the your well earned holiday the rest of the day.:)

[Minor]

This is the chart that kept me in. Can someone comment on my counts

Never mind I see where i got of this, We finished 3 and are now in corrective 4 and shoulkd push to 5 last impulisive wave

[kbandtheriptides]

Ditto from me..
my trading has vastly improved due to the help given on this MTP forum :D!
Please keep the info flowing..
good day for all I hope,
Gotta go play guitar now ..my "other job"...
later,
KB

[Larry22]

This is the chart that kept me in. Can someone comment on my counts

Never mind I see where i got of this, We finished 3 and are now in corrective 4 and shoulkd push to 5 last impulisive wave

Hi Minor I sure would like to help you on this but I can't see what index and time frame on your pick, so can't really comment on your wave count but I can give you a tip, when you're lost in wave count refer to higher degree both ER2 and ES have now 5 waves up on the 15 min so I hope this can clarify your count.

Laurent

[Minor]

That is the ES and I use 4 range on that chart, Before MTP I was strictly a price action trader, I did alot of study on Stevenson PTT's and that range setting seems to work well. Now that I have MTP I am integrating it into what I already know. One problem that led me to MTP is I would always get killed whenever i increased my size, Things are beginning to be a big improvment.

Thanks in advance

[Russell Stagg]

Reason for not selling this morning was very easy for me as both ER2 and ES had both 5 waves up from yesterday's low.

So for me the side to be on was long until a wave 3C or a B wave up unfold. If anyone wanted to attemtp a short you had to be ready to take quick profits and lowering your stop loss to breakeven quickly.

ER2 allready made a new high since it has allways been more bullish then ES, the big question is will the ES make a new high before the Fed minutes or a big B wave instead, can't say for now.

The patttern was so obvious in ER2 and ES ?????


errr... Larry22 - where do you get the B wave up idea from . Can't see that myself?

[Steve Griffiths]

Hi Guys

I know this is the US mini section, but I though some of you would like to review some simple "manual" analysis from the dax this morning

http://www.mtptrader.com/showthread.php?p=17469#post17469

The result - a massive +11R trade :)

Steve

[Larry22]

errr... Larry22 - where do you get the B wave up idea from . Can't see that myself?

Easy all I was saying is that after completion of wave 3C the 1A, 2B and 3C can become a B wave ABC a corrective pattern from a previous leg down but when you have 5 it can't unless it is in the C leg.

I hope this clarify my explanations as this was a few days ago.


Laurent

[Minor]

Possible DP ER 5 min

[riccja]

I am new to posting although been an avid mtp user since Steve started.

I am short the YMU from 11436 on a dp short and also a ttt resistance between 11406 and 11551. Also with the nasdaq down big and dow up at open seemed to me like an easy trade.

Target 11310

Did anyone else take the trade

Rick

[scooper]

Nice one minor, I was looking to short the open as well as we were at DPs on 3 of the minis. Had to go to a 2 min chart on the YM to catch an entry on it. At target first minor target now...

[Larry22]

Possible DP ER 5 min

Yup that's the one I traded got lucky as I sold market at the open got 700.

This high was not just a DP it was also the 5th wave of the 5th on the 5 min as the minimum wave 5 (major) was also reached, that's why it went down very fast.

Now they can continue to go down or decide to make extensions up but I don't care as I took profit on my last lot near 10 points.

My day is done.


Laurent




Laurent

[scooper]

Nice one Laurent, you have joined the POETS society then I see:)

[jands]

Yup that's the one I traded got lucky as I sold market at the open got 700.

This high was not just a DP it was also the 5th wave of the 5th on the 5 min as the min wave 5 was also reached, that's why it went down very fast.


Laurent

Hi Laurent,

Thanks again for your posts. I have started including EW counts to help me determine if I should be looking for a continuation trade or if it is time to look for a DP trade.

I understand the "5th wave of the 5th" but I get a little lost when you say "3 of 5" and such. When you have time could you recommend some reading material or give a short explination. That would be great to helping me understand your posts better.

(I understand the 5 wave count, implusive vs. corrective) but I don't understand the nomenclature of a wave within a wave).

Thanks again for your help and posts.

Jim

[TAS]

Hi Laurent,

I Know U were selling from the exact open, but I was late and sold at 698.3, already take half off when price makes 3min extreme, however I'd like to hold on the rest until that text book 15min wave 4 DP are resolved.

See how we go.

TAS

[Minor]

See you guys Monday:rolleyes:

[Larry22]

Hi Laurent,

Thanks again for your posts. I have started including EW counts to help me determine if I should be looking for a continuation trade or if it is time to look for a DP trade.

I understand the "5th wave of the 5th" but I get a little lost when you say "3 of 5" and such. When you have time could you recommend some reading material or give a short explination. That would be great to helping me understand your posts better.

(I understand the 5 wave count, implusive vs. corrective) but I don't understand the nomenclature of a wave within a wave).

Thanks again for your help and posts.

Jim

Very easy look at the 5 min ER2 charts label it from the bottom then post it here I will explain it to you or better put it on the MTP EOD and ask for intermediate wave count then major you wil see.

Laurent

[jands]

Very easy look at the 5 min ER2 charts label it from the bottom then post it here I will explain it to you or better put it on the MTP EOD and ask for intermediate wave count then major you wil see.

Laurent

Hi Laurent,

I understand perfectly the 5th wave of the 5th wave. That was very nice and I did spot that one for a paper trade.

BUT when you say Wave 3 of 5, is it the 5th wave in the a larger Wave 3 or is it a wave 3 in a larger timeframe wave 5.

Does that make more question more specific?

Thanks again,

Jim

[Larry22]

Hi Laurent,

I Know U were selling from the exact open, but I was late and sold at 698.3, already take half off when price makes 3min extreme, however I'd like to hold on the rest until that text book 15min wave 4 DP are resolved.

See how we go.

TAS

Hi TAS, I agree with you that we may go lower as if it's a wave 5 of 5 we have a lot of room to go down, still the market has been very strong lately and I allready had a very rewarding week so I decided to take my profit.

Good luck on your trade

[riccja]

I am still in the short 3 min ymu trade....

I am putting my stop at the last swing high just to lock in a profit.

Still looking at my original target though.

Rick

[riccja]

Stopped out at 11423 with about a 1r profit:(



Rick

[Larry22]

Hi Laurent,

I understand perfectly the 5th wave of the 5th wave. That was very nice and I did spot that one for a paper trade.

BUT when you say Wave 3 of 5, is it the 5th wave in the a larger Wave 3 or is it a wave 3 in a larger timeframe wave 5.

Does that make more question more specific?

Thanks again,

Jim

Jim, when I usually speaks of 3 of 5 this can only means that these awaves have been printed as otherwise I can't say 3 of 5 if 5 hasn't been done, so you might have seen these on a previous post when I was talking about past waves and not unfolding ones.

I hope this clarifies it

[jands]

Jim, when I usually speaks of 3 of 5 this can only means that these awaves have been printed as otherwise I can't say 3 of 5 if 5 hasn't been done, so you might have seen these on a previous post when I was talking about past waves and not unfolding ones.

I hope this clarifies it

I sorry, but I'm a little slow and it is about as clear as mud;)

But I thank you for your valuable time. Next time I see a post that confuses me about the count and I will ask.

Thank you once again for your post and your time,

Jim

PS Glad you had a good week!

[jands]

Hi Everyone,

I'm still mostly paper trading but I'm making a few trades every now and then when things come together just right.

Everyone has been so helpful to me I'm would like to give a little back.

This is in hindsight after the trade, but an actual one.

The YM pulled back on the 3min as a simple ABC to a SUPP/RES line and the 10 ma avg. (If it is a short, compact, clear ABC I will use the 10ma to initiate a trade). The order was placed in anticipation of the bounce from the 10ma to be a blue bar and order was filled one tick above the high of the previous bar.

ALSO the market internals have had a bullish trend to the today and were currently bullish.

Good luck to all,

Jim
6359

6360

[G Fryer]

In Elliott Wave parlance, 3 of 5 means the subdivision 3rd wave of a larger time frame 5 wave (all waves being subdivided into smaller time frame waves). From the answer above, I don't think that's what everyone here means though, so you are probably talking about to different things.

Gillian

[jands]

In Elliott Wave parlance, 3 of 5 means the subdivision 3rd wave of a larger time frame 5 wave (all waves being subdivided into smaller time frame waves). From the answer above, I don't think that's what everyone here means though, so you are probably talking about to different things.

Gillian

Thanks Gillian, I believe that is the answer I was looking for.

When all these numbers are thrown together with "of" stuck in the middle of them I get a little confused, just like reading Taylors Trading Technique without reference to charts:D

Jim

[G Fryer]

I can't help you with Taylor... it must have been translated from Korean! Useful, but insanely written. It would be nice to find some long lost relative who had it explained by the master and is quietly trading it for profit... Oh, I know who that is: Richbois!
:D
G

[jands]

I can't help you with Taylor... it must have been translated from Korean! Useful, but insanely written. It would be nice to find some long lost relative who had it explained by the master and is quietly trading it for profit... Oh, I know who that is: Richbois!
:D
G

:D Very true, I don't want to ask for help on everything, some things are best learned on your own. I try to ask only when I get cross-eyed and my eyes won't uncross:o

I think part of the reason Taylor is so hard to read is his writing is trying to draw a chart for your mind to see. He probably could have made a 10 page book if he just drew a 5 or 6 charts:rolleyes:

Oh well, but whom am I.

Thanks and good luck,

Jim

AND YES, RICH HAS DEFINETLY PUT HIS TIME IN TO UNDERSTANDING TAYLOR AND APPLYING HIS METHOD. MANY PRAISES FOR RICH!!!

[Larry22]

Well while watching Tour de France cycling I heard a lot of bells and whistles from my PC, so went there and couldn't resist as ES was also testing his top.

Got filled at my target near the DP I'm now flat. :D


That really made my day, 2 good run down with the ER2. ;)


Laurent

[Larry22]

The market must really be generous today as I bought the ER2 near the low on a retest 688.2 TS3 (possible ABC) and then sold finally my last lot at 691.2 so a very nice friday for me. :D


Laurent

[d-day]

I can't help you with Taylor ... It would be nice to find some long lost relative who had it explained by the master and is quietly trading it for profit... Oh, I know who that is: Richbois!
:D
G

I think Taylor himself would be amazed at the power that his trading technique has in the hands of Richard ... and I can only imagine the original Taylor's awe would he be able to see Richard's eBook!

d-day

[jjc]

I think Taylor himself would be amazed at the power that his trading technique has in the hands of Richard ... and I can only imagine the original Taylor's awe would he be able to see Richard's eBook!

d-day


all i have to say about rich's ebook is WOW

he nailed the top on the ES and all the info was there before the market even opened

i had the pleasure of talking to rich live on friday and posted my short trade live with him - what a rush!

fellows, you need to sign up for his service before he raises his prices :)

and yes, it compliments MTP very well

j

[richbois]

WOW Thank you all for the nice words.

It feels warm inside when I read all your posts.

Richard

PS: The book was written in 1950 then Appel in his section calls his method Taylor 30 Years later well I should call mine Taylor 60 Years later

And people said back then "what do we need computers for" LOL

[jjc]

WOW Thank you all for the nice words.

It feels warm inside when I read all your posts.

Richard

PS: The book was written in 1950 then Appel in his section calls his method Taylor 30 Years later well I should call mine Taylor 60 Years later

And people said back then "what do we need computers for" LOL

well, if it was me i would call it the 'rich book' as if it could make you rich

j

dang, its a good thing i'm grandfather'ed in so you won't raise the price on me!!!

d-day said the price goes up next week or next , guess i beat the dead line whew!!!

j

[d-day]

d-day said the price goes up next week or nextj

I have no knowledge of Rich's plans for his service, and I think my exact words were "Rich isn't charging enough for his eBook and if it were me I'd raise the price, but if he does, I hope he grandfathers me in lol" ... but I am very, very pleased with his eBook and so long as he offers it, I have no plans to go back and renew the tortuous task of keeping my own book.

[Minor]

The Rt for ninja is build 28. Has anyone installed latest upgrade to build 46 and how are you liking it, I emailed bruce and he explained that it would give less DP setups but the setups would have a better chance of succes.

Thanks

[400golpes]

Is build 46 available? In download page is only build 28.

[d-day]

The Rt for ninja is build 28. Has anyone installed latest upgrade to build 46 and how are you liking it, I emailed bruce and he explained that it would give less DP setups but the setups would have a better chance of succes.

Thanks

I doubt this is the right thread for this question. You might try here:

http://www.mtptrader.com/showthread.php?t=1128&page=17

[Minor]

Thanks D-Day

400 go to link D-Day posted, I put it there

[Steve Griffiths]

Is build 46 available? In download page is only build 28.

Please email support for questions like this......... Bruce will be able to help you

Thanks

Steve

[Minor]

Es setting up

[TAS]

YES,

MTP gives us nice BUY from the low, and in order to look for the HIGH on SS day, we need THIS LOW TO GO LONG as well, also another leg up seems needed to resolve the wave count.

Good luck ALL.

TAS

[TAS]

PLUS,

Though I wasn't in NQ, but another great combination of TTT and MTP manual DP, since we have high odds to get above 1833.5 at some point later today, guys...clearly we should avoid current unfolding TS3 sell..

TAS

[richbois]

PLUS,

Though I wasn't in NQ, but another great combination of TTT and MTP manual DP, since we have high odds to get above 1833.5 at some point later today, guys...clearly we should avoid current unfolding TS3 sell..

TAS

TTT would not call for odds of getting above 1833.5 since we were above 1833.5 at one point so the 3 day rally condition has been fullfilled.

Dont forget the 3 day rally is from the B day low and the SS day high, at this point the High of 1843 took care of that

Richard

[TAS]

Thank you very much RICHARD for explaining this out for me immediately. Clearly I get some concept confusion on the way learning...

Anyway, U have done a great job educating traders...

TAS


TTT would not call for odds of getting above 1833.5 since we were above 1833.5 at one point so the 3 day rally condition has been fullfilled.

Dont forget the 3 day rally is from the B day low and the SS day high, at this point the High of 1843 took care of that

Richard

[TAS]

Hi,

Attached is a NON-greedy DP-to-DP long trade with divergence on both end...
I know there is some potential on the upside, but I feel comfortable with this chunk...

TAS




YES,

MTP gives us nice BUY from the low, and in order to look for the HIGH on SS day, we need THIS LOW TO GO LONG as well, also another leg up seems needed to resolve the wave count.

Good luck ALL.

TAS

[Larry22]

Hi,

Attached is a NON-greedy DP-to-DP long trade with divergence on both end...
I know there is some potential on the upside, but I feel comfortable with this chunk...

TAS

Hi TAS once again I took same trade as you but got out a bit earler then you as I had sold 3 times allready before buying this low, you seem to have bought at about same place then me as my entry was 692.3.

P.S I also bought for the same reason then you.

Well done TAS


Laurent

[davidh]

Hi,

Attached is a NON-greedy DP-to-DP long trade with divergence on both end...
I know there is some potential on the upside, but I feel comfortable with this chunk...

TAS

Hi TAS - nice long trade. I wonder if I could ask you something though. I would not have identified any divergence for either the entry or the exit based on the swing lows/highs. (STF peaks, Stochastic 5/3/3) When you look at divergence do you look at it just from the recent price bars and not from the point where the DP is projected?
The ER2 entry was also a TS1 long on the 15 mins (24 hr chart) and I note that the ER2 3 min chart DP was at the 200ema but would like to understand where you identify divergence. Thanks!
Best wishes
David

[jjc]

well, rich's sell short day did it again !

amazing work by rich !

j

[TAS]

Hi Laurent,

Exactly I bought at 692.3 as yours. Let's see what market brings us tomorrow.

Cheers,

TAS



[QUOTE=Larry22

you seem to have bought at about same place then me as my entry was 692.3.

P.S I also bought for the same reason then you.

Well done TAS


Laurent[/QUOTE]

[TAS]

Hi David,

It doesn't seem to be necessary all the time to identidy the divengence between recent swing pivots, divergence within the last leg up or down is of great use when combining MTP DP or other skills you are comfortable with.

Steve's video has lots of such examples...hope this helps.

TAS



Hi TAS - nice long trade. I wonder if I could ask you something though. I would not have identified any divergence for either the entry or the exit based on the swing lows/highs. (STF peaks, Stochastic 5/3/3) When you look at divergence do you look at it just from the recent price bars and not from the point where the DP is projected?
The ER2 entry was also a TS1 long on the 15 mins (24 hr chart) and I note that the ER2 3 min chart DP was at the 200ema but would like to understand where you identify divergence. Thanks!
Best wishes
David

[Larry22]

well, rich's sell short day did it again !

amazing work by rich !

j

Yup I have to agree with you j, I had rich's TTT possible ES high at 1268.92 and the actual high was 1269 then I also had a DP at 1268.50 and a projection at 1268.25 so a lot of resistance in that area, it was easy to take the sell trade based on all these clusters with the DP signal also (24 hr charts).

That TTT book is pretty amazing.


Laurent

[TAS]

Good Morning ALL,

I hope some of you have been in the same ride with me on this classic STEVE G. opening DP trade. 8 points profit to start the day, U don't complain that.:)

TAS

[jands]

I chose the YM. Plus today is a Buy day per TTT. I don't know what the BUY UNDER amount was but I believe (guessing) it was pretty close to the opening.

I should probably make a book or just subscribe to Rich's book, ya think?

[kbandtheriptides]

Nice catch TAS..
should a, could a , would a..
especially with Rich's TTT buy day..
chalk it up to my inexperience ,:eek:
I took it as a DP with no gap down on the ER for a 9:30 open..
thanks for the post,
later,
KB

[kbandtheriptides]

no gap down,
I'm meaning open below previous day's lowest low day session.
just to clarify my last post on the ER..
KB

[jjc]

Yup I have to agree with you j, I had rich's TTT possible ES high at 1268.92 and the actual high was 1269 then I also had a DP at 1268.50 and a projection at 1268.25 so a lot of resistance in that area, it was easy to take the sell trade based on all these clusters with the DP signal also (24 hr charts).

That TTT book is pretty amazing.


Laurent

yes larry, rich's TTT its pretty amazing - today is no exception either

buy day today so close to his levels

j

[jjc]

I chose the YM. Plus today is a Buy day per TTT. I don't know what the BUY UNDER amount was but I believe (guessing) it was pretty close to the opening.

I should probably make a book or just subscribe to Rich's book, ya think?


jands, all i can say is im totally impressed with rich's TTT and its cost is nominal (for now :))


j

[kbandtheriptides]

Don't be hinting for him to raise the price on his best ground floor supporters..

[Larry22]

jands, all i can say is im totally impressed with rich's TTT and its cost is nominal (for now :))


j

Yup ES is a bit tricky today but ER2 made his projected TTT high at 708.34 not bad as the actual high for now is 708.8. This high was also a projection that I had and a manual DP plus combined with MTP I had 2 signal to sell there, so I made money as I traded 2 times allready by selling 708 and took profit as my EW count is telling me that 1 more leg up should unfold.

Rich's TTT book is a good tool when combined with MTP. :D


Laurent

[jjc]

Rich's TTT book is a good tool when combined with MTP. :D

Laurent


agree :D

j

[richbois]

Yep again today the two systems went hand in hand as Laurent said

Here the report from last night

"Tomorrow is a BUY day and we should expect a Decline from today's high. If this market has really changed from bear to bull, as some say, then the Decline may be shallower then plan. time will tell."

Good job Laurent

[Minor]

Looking to short ES somewhere between 85 and 93 after open, Will key down to 5 and 3 min for entries watching for reversal bar at WPT

[jjc]

Looking to short ES somewhere between 85 and 93 after open, Will key down to 5 and 3 min for entries watching for reversal bar at WPT

well, we'v hit the epa and today is a sell day so you're prolly in good shape for that short

good luck

j

[rokster]

Looking to short ES somewhere between 85 and 93 after open, Will key down to 5 and 3 min for entries watching for reversal bar at WPT

Minor,

Off which previous pivot did you get that DP ?

Regards
Rokster

[Eddo]

Minor,

Off which previous pivot did you get that DP ?

Regards
Rokster

Take a look at the 60 min Rokster - that will do it for you :)

[TAS]

Hi EDDO,

Welcome back! U seem to have been quite trading for 4.5 months or so...:cool:

TAS

[Minor]

Thanks Eddo, I have no trade as of yet

[Eddo]

Hi EDDO,

Welcome back! U seem to have been quite trading for 4.5 months or so...:cool:

TAS

Hey Tas

Long sad story .............. but back in the saddle (I hope) again now

[rokster]

Take a look at the 60 min Rokster - that will do it for you :)

Thanks Eddo !

[Minor]

I osted to wrong thread original trade, Here is one that was setting up but I did not do diligence in my analysis 13.3 R

[Minor]

Here is the ER chart

[Stefan61200]

Hi Minor,

is there any chance for you to add a bigger picture of your chart. I am an old man and I am unable to read these little letters ;). Thank you.

Happy trading
Stefan

[Minor]

Let me ask the forum, any ideas on how to do that, I am saving in JPG would a gif file be bigger

[Biggo]

Let me ask the forum, any ideas on how to do that, I am saving in JPG would a gif file be bigger

I think you will find that the size was restricted because people were up loading huge files at one time.
Maybe we could request a slight increase in size of files allowed :)

[Larry22]

well, we'v hit the epa and today is a sell day so you're prolly in good shape for that short

good luck

j

J yes it's a sell day and I was waiting wave 5 to finish in the ES and once again my projected wave 5 was near Richard's TTT projected high (1290) as I had 1291.50 so at this level I could not pass on that sell trade as I also had a DP on my time frame chart.

Allmost 7 points now and I allready took some contracts off. :D


Once again not a bad day when we combined TTT MTP and EW analysis. ;)

Laurent

[jjc]

J yes it's a sell day and I was waiting wave 5 to finish in the ES and once again my projected wave 5 was near Richard's TTT projected high (1290) as I had 1291.50 so at this level I could not pass on that sell trade as I also had a DP on my time frame chart.

Allmost 7 points now and I allready took some contracts off. :D


Once again not a bad day when we combined TTT MTP and EW analysis. ;)

Laurent

nice trade larry

im right there with you

and, yes thats a good combo

j

[Eddo]

Hi All !

Thinking that this might be a poss Wave 5 down on the ES after the nice fall from the 60 DP at the start of the day - also a TTT Sell day so was wondering what others views were - nice to be back btw

[TAS]

Hi EDDO,

My 2 cents thought and trades here.

We might hit resistance in whatever MTP/TTT/EW term, so I was looking for EXACT first swing high to go short, luckily tick chart got me filled at 722 and I took some off at 715 upon 3min DP with stoch divergence. I still hold 1 at entry in case market see another leg down to my projection 709 around level.

DO or B/E, time will tell. I am working on NON-trading PC, so chart later...

Good luck to your trades as well.

TAS

Hi All !

Thinking that this might be a poss Wave 5 down on the ES after the nice fall from the 60 DP at the start of the day - also a TTT Sell day so was wondering what others views were - nice to be back btw

[Larry22]

We might hit resistance in whatever MTP/TTT/EW term, so I was looking for EXACT first swing high to go short, luckily tick chart got me filled at 722 and I took some off at 715 upon 3min DP with stoch divergence. I still hold 1 at entry in case market see another leg down to my projection 709 around level.
TAS

Well done TAS that was the place to sell as I took that trade too since I was in the money with my ES trade and was able to afford a small loss on that one but it worked and I also took profit at 715 as per wave projection rule.

Laurent

[TAS]

AND now comes the easiest part in trading...

TS3+DP+Stoch divergence+50% retracement = quick money

Of course, I loaded my position to full again when signal appears, then half off AS SOON AS the blue bar on minor DP formed...

I am still short 1 at 722...

TAS

[Larry22]

AND now comes the easiest part in trading...

TS3+DP+Stoch divergence+50% retracement = quick money

Of course, I loaded my position to full again when signal appears, then half off AS SOON AS the blue bar on minor DP formed...

I am still short 1 at 722...

TAS

I bailed out of my ES short at 1277.25 as the 3 min had divergence on the TS3 ABC low and this was also a DP and that was about 10 points profits on the ES.

So all these together told me to take my profit and run. :D

[Stefan61200]

I bailed out of my ES short at 1277.25 as the 3 min had divergence on the TS3 ABC low and this was also a DP
So all these together told me to take my profit and run. :D

Hi Laurent,

may I ask you two questions.

- Which indicator gave you this divergence? I checked STF and Stoch but I am not able to see that.
- The same with the DP. I don't have a DP at the 3 min, 5 min nor 15 min chart.

Thank you and happy trading
Stefan

[Larry22]

Hi Laurent,

may I ask you two questions.

- Which indicator gave you this divergence? I checked STF and Stoch but I am not able to see that.
- The same with the DP. I don't have a DP at the 3 min, 5 min nor 15 min chart.

Thank you and happy trading
Stefan


Hi Stefan the divergence was present on the 3 min chart on stochastic and MAC and the DP was a manual one from the low of the wave at 1277.25 I hope this answer your questions.

Laurent

[TAS]

Well,

Today proves to be Steve's "the day after" and Richard's "confusion day". obviously I was B/E on the original half short position, but all in all 2 profitable trades make it an OK day as well.

Attached was tick chart short on the first swing high following initial decline from HOD

See you all tomorrow.

TAS

[edfash]

5 waves up completed almost at a perfect wave1=wave 5

[kbandtheriptides]

dow buy ? 11:33 am ?

[edfash]

good morning.

wow. mtp nailed this one.

[kbandtheriptides]

only time will tell

[kbandtheriptides]

Rich's TTT # was 11466 AVG possible low if I understand that right..
we'll see where we go from here..
KB

[kbandtheriptides]

did'nt hold:(

[richbois]

Rich's TTT # was 11466 AVG possible low if I understand that right..
we'll see where we go from here..
KB

the YM low was at 11454 onTTT let's see if that holds

now all of them at the lows projected except NQ

[rokster]

the YM low was at 11454 onTTT let's see if that holds

Looks like you called the low on the ES perfectly ! :)

[Steve Griffiths]

Hi Guys

chart below on the 60min "larger degree" picture

Steve

[richbois]

Hi Guys

chart below on the 60min "larger degree" picture

Steve

Looks like the DP will match TTT low for tomorrow

[TAS]

Good Morning ALL.

Looks like combination of MTP and TTT would produce NON-discretionary level if you have your individual system to jump on board...

Good Luck.:)

TAS



Hi Guysou

chart below on the 60min "larger degree" picture

Steve

Looks like the DP will match TTT low for tomorrow

[kbandtheriptides]

Slightly tough day today on my charts ..:eek:
Still up for the week:)
thus far..
later,
KB

[Minor]

Steve tells alot that after an expansion day odds are we will have an inside day and just consider this, I hope i said that right, Did you get snagit so you can post charts?

[Larry22]

Today was a buy day and by combining EW and TTT technique I was able to buy at 705.7 and sold one at 710and the other near 713.

Not a bad day considering I had to stop trading as I had things to take care of. :D

[Eddo]

Hello all - I'am still struggling away re TTT but would anyone agree that on the ES and AB (ER2) we have a sell day today and so with the low on Friday coming in last we are looking for a Rally up (to poss 15 min DP.s or TTT poss Highs levels) first which should then be followed by a Shorting opportunity (if we hit those potential tgts) to decline to new lows?

[richbois]

Hello all - I'am still struggling away re TTT but would anyone agree that on the ES and AB (ER2) we have a sell day today and so with the low on Friday coming in last we are looking for a Rally up (to poss 15 min DP.s or TTT poss Highs levels) first which should then be followed by a Shorting opportunity (if we hit those potential tgts) to decline to new lows?

Eddo, I often say that Sell days are the confusing days. Like you today I am expecting some sort of rally, however so far it doesn't look like a very strong one. Maybe some traders made it long long weekend as it was the same on Friday.

Would I long or short 1st, would depend on what the chart looks like and what signals we get. If we were in a more active market, I would have been looking for long 1st and short later

So far it looks like a Golf Day.

Richard

[Eddo]

Eddo, I often say that Sell days are the confusing days. Like you today I am expecting some sort of rally, however so far it doesn't look like a very strong one. Maybe some traders made it long long weekend as it was the same on Friday.

Would I long or short 1st, would depend on what the chart looks like and what signals we get. If we were in a more active market, I would have been looking for long 1st and short later

So far it looks like a Golf Day.

Richard

Hi Richard

Many thanks for that - looks like we are thinking along similar lines - perhapse the little rally right at the open was the long and we are down from here :confused: - Golf sounds like a good option :)

[scooper]

ER2

We have just hit a typical wave 5 down on the 3 min chart (minor). Not far to major DP from prior swing at 698 area. Maybe a correction and possibly a wave 5 down on the intermediate to that 698 area to let the higher 15 min charts hit DPs etc?

Who knows, I am out at 701.5 on a limit order short on the wave 2 high which I have been experimenting with. (entry on sell stop at 707.8)

I was expecting a decline out the gate as the wave 4 area on the 15 min chart had been breached nicely.

That's it for me. Less std setups for sure but I am well pleased again.

Just about to post and I see the wave extends down. Hey ho, off to slaughter my lambs as I am fed up with milking those cows.:D

[Steve Griffiths]

Hi Guys

NQ looks to have been a good bet....

I have to stress that MTP v6.0 is NOT real-time (I feed it from the MTPData1.efs in eSignal), but it does give me a good "ball park"

This is my favourite set-up, the ABC correction that unfolds as part of the "initial correction" to the "initial move" off an "important high or low"

A nice +5R profit as the NQ reaches the Typical Wave 3 WPT

:)

Steve

[Minor]

Er poss setup 60 min

[Steve Griffiths]

Hi Guys

What can I say, but looks like the 60-min Chart I posed a few days ago has unfolded exactly as anticipated ;)

Steve

[rrs]

ES is currently at the confluence of 15 and 60 min DP. Volume appears to suggest that this level may hold. Further testing of this price area may be necessary to confirm this conclusion.

Rama.

[rrs]

3 min ES chart appears to indicate more selling, with volume increasing on test of the 1243 -- 1237 area.

Big picture analysis (daily chart) seems to indicate that ES may be reversing at 21 EMA and heading lower towards 1202 area.

It will be interesting to see where ES will go from here.

Rama.

[Larry22]

ES is currently at the confluence of 15 and 60 min DP. Volume appears to suggest that this level may hold. Further testing of this price area may be necessary to confirm this conclusion.

Rama.


Agreed for the ES and furthermore I had 4 cluster prices for ER2, 15 min DP at 696 then 2 projections at 695.2, 695.1 and Richard's TTT book projectted low at 695.2.

No need to tell you that this was an easy buy and that I allready took partial profits as I wrote this. :D


Laurent

[jjc]

Agreed for the ES and furthermore I had 4 cluster prices for ER2, 15 min DP at 696 then 2 projections at 695.2, 695.1 and Richard's TTT book projectted low at 695.2.

No need to tell you that this was an easy buy and that I allready took partial profits as I wrote this. :D


Laurent

nice trade larry

rich's TTT and steve's MTP are something to reckon with - great combo !


j

[Larry22]

nice trade larry

rich's TTT and steve's MTP are something to reckon with - great combo !


j

Thanks j, I rebought at 695.1 on the new low and again took partial profits so hoping for another rally.

P.S Richard TTT projected low for the ES was around 1237 and the DP low is at 1235.25 so we could have made the low in the ES, as usual time will tell but we might be very close.


Laurent

[jjc]

Thanks j, I rebought at 695.1 on the new low and again took partial profits so hoping for another rally.

P.S Richard TTT projected low for the ES was around 1237 and the DP low is at 1235.25 so we could have made the low in the ES, as usual time will tell but we might be very close.


Laurent

cover rally to the bell?

im betting on that too

lets see if we get lucky

j

[rrs]

Agreed for the ES and furthermore I had 4 cluster prices for ER2, 15 min DP at 696 then 2 projections at 695.2, 695.1 and Richard's TTT book projectted low at 695.2.

No need to tell you that this was an easy buy and that I allready took partial profits as I wrote this. :D


Laurent

Hi Larry,

I am glad it was a profitable day for you.

It is an interesting day in the ES world.

The attached chart highlights several interesting points:

1) Both the trend and the counter-trend (DP) traders would have made money today. But, the trend trader would have made more money. It is unfortunate that the TS4 Sell that appeared at the high (so far) of the session got stopped out. There were, of course, other methods of re-entering the market in the direction of the trend at a later stage.

2) Even though first DP trade missed the projected target by a very narrow margin, it is interesting how both DP trades reversed at the EMAs (first near 21 EMA and the second at 63 EMA) -- a phenomenon that occurs often enough to warrant close attention to the chart when the price approaches these areas during retracement / counter-trend (DP) trades.

3) As I mentioned earlier, it will be interesting to see if ES reverses at 21 EMA in the daily chart and head towards 1202 area (daily DP). If this price level holds on testing, the question at that stage will be: "Will the much anticipated and sought after relief / bear market rally unfold?"

I will certainly be watching. Good luck in your trading.

Rama.

[Larry22]

Thanks rrs, I bought the possible ER2 low 3 times as we had a divergence that was increasing on every low and by allways taking partial profits I was able not to loose money but to make some. We might go lower around 690 691 but not today.

Tomorrow is another day.

[Minor]

ER and NQ, These are very bullish, We will see if they hold

[Eddo]

ER and NQ, These are very bullish, We will see if they hold

I reckon the ER2 (AB) is getting close to its TTT pos high and is also at a major DP and we have divergence - anyone else thinking the time might be getting close to Short?:confused:

[richbois]

I reckon the ER2 (AB) is getting close to its TTT pos high and is also at a major DP and we have divergence - anyone else thinking the time might be getting close to Short?:confused:

This was part of my report last night

Tomorrow is SS Day. however based on the close today, we have and 88% chance for the 24hr session, and 85% chance for the day session of getting atleast above 1251.25. We also have a 54% chance of making a lower low. On ER2 the odds of getting above 704.1 are even better at 90%.

Now these numbers have been achieved, even for Dow and NQ, so at this point it can go anywhere.

[Eddo]

This was part of my report last night

Tomorrow is SS Day. however based on the close today, we have and 88% chance for the 24hr session, and 85% chance for the day session of getting atleast above 1251.25. We also have a 54% chance of making a lower low. On ER2 the odds of getting above 704.1 are even better at 90%.

Now these numbers have been achieved, even for Dow and NQ, so at this point it can go anywhere.

Hi Richard

I was looking at around 715 for the Russell as its HOD so was reckoning on a bit to go (even more for the ES) - but I also have us at a big DP (off yesterday's high on the 3 min) so was thinking we might be due for a correction down? As yet I have no MTP auto's

Chris

[edfash]

internals continue to trend with breadth on the highs. es and er stalled around the .786 rtc of yesterdays wave down. looks like we are in wave 5 up here, a wave 1=wave 5 takes us to 1356.

[Eddo]

Hi Richard

I was looking at around 715 for the Russell as its HOD so was reckoning on a bit to go (even more for the ES) - but I also have us at a big DP (off yesterday's high on the 3 min) so was thinking we might be due for a correction down? As yet I have no MTP auto's

Chris

Well the Russell has made it to my 715 tgt - I'am still stitting on my hands but will be interested to see if we do decline further from here but nothing like sure so will wait a bit longer and see what the TS Buy settup we have forming does first

[richbois]

Well the Russell has made it to my 715 tgt - I'am still stitting on my hands but will be interested to see if we do decline further from here but nothing like sure so will wait a bit longer and see what the TS Buy settup we have forming does first

we also have the Trade Vic Gap Rule in effect on ES

[Eddo]

we also have the Trade Vic Gap Rule in effect on ES

Trader Vic Gap Rule ?

[richbois]

Trader Vic Gap Rule ?

The Trader Vic Gap Rule

"If there is a gap, and it is going to reverse, it will do so 10-15 minutes after the opening 95% of the time. Please believe me on the odds, they are real. If the market continues in the direction of the gap after 10 to 15 minutes, it is a strong sign that the move will continue for the rest of the day, closing in that direction as well. Even if the market reverses after the 10-15 minute period, if it fails to fill the gap, odds are that the market will close in the direction of the gap." Victor Sperandeo, " Trader Vic II: Principles of Professional Speculation, pg. 231

[Eddo]

The Trader Vic Gap Rule

"If there is a gap, and it is going to reverse, it will do so 10-15 minutes after the opening 95% of the time. Please believe me on the odds, they are real. If the market continues in the direction of the gap after 10 to 15 minutes, it is a strong sign that the move will continue for the rest of the day, closing in that direction as well. Even if the market reverses after the 10-15 minute period, if it fails to fill the gap, odds are that the market will close in the direction of the gap." Victor Sperandeo, " Trader Vic II: Principles of Professional Speculation, pg. 231

As always, many thanks

[Stefan61200]

Trader Vic Gap Rule ?

Hi Eddo,

here is the Trader Vic Gap Rule. It was published here in the forum by DDay.

Happy TRading
Stefan

__________________________________________________ ________________________

"If there is a gap, and it is going to reverse, it will do so 10-15 minutes after the opening 95% of the time. Please believe me on the odds, they are real. If the market continues in the direction of the gap after 10 to 15 minutes, it is a strong sign that the move will continue for the rest of the day, closing in that direction as well. Even if the market reverses after the 10-15 minute period, if it fails to fill the gap, odds are that the market will close in the direction of the gap." Victor Sperandeo, Trader Vic II: Principles of Professional Speculation, pg. 231

[Eddo]

Hi Eddo,

here is the Trader Vic Gap Rule. It was published here in the forum by DDay.

Happy TRading
Stefan

__________________________________________________ ________________________

"If there is a gap, and it is going to reverse, it will do so 10-15 minutes after the opening 95% of the time. Please believe me on the odds, they are real. If the market continues in the direction of the gap after 10 to 15 minutes, it is a strong sign that the move will continue for the rest of the day, closing in that direction as well. Even if the market reverses after the 10-15 minute period, if it fails to fill the gap, odds are that the market will close in the direction of the gap." Victor Sperandeo, Trader Vic II: Principles of Professional Speculation, pg. 231

TY Stefan and Richard - I should have known this but thanks for reminding me - its been a bad 5 weeks and its taking some time to get my brain in gear again :)

[Eddo]

TY Stefan and Richard - I should have known this but thanks for reminding me - its been a bad 5 weeks and its taking some time to get my brain in gear again :)

Well with Trader Vic singing in my ears and with the decline from my HOD tgt I have taken the ER2 TS3 Long and will watch it rise to 716 for the close :)

[edfash]

long ym even though the es may have completed its impulse up

[edfash]

ym hits first target, er finds resistance at wave B dp so far.

[d-day]

Just got in and fired up the esig to find a DP sell sig on the cash $INDUand the DIA on the 5 minute. I'm not big on fading the Trader Vic Gap Rule, but I couldn't help myself this one time, and I find myself short the DIA at 113.59 and a stop at 113.66. Big Risk - 7 pennies per share! lol

Bizarre, I see the $INDU making a new high but the diamonds have not ... yet, that is. I guess they want to sucker a bunch more shorts in like me and then gap above the stops!

There we go ... I'm out. Serves me right for fading a strong gap trend day up into the close.

Good day, all,

d-day

[d-day]

Just got in and fired up the esig to find a DP sell sig on the cash $INDUand the DIA on the 5 minute. I'm not big on fading the Trader Vic Gap Rule, but I couldn't help myself this one time, and I find myself short the DIA at 113.59 and a stop at 113.66. Big Risk - 7 pennies per share! lol

Bizarre, I see the $INDU making a new high but the diamonds have not ... yet, that is. I guess they want to sucker a bunch more shorts in like me and then gap above the stops!

There we go ... I'm out. Serves me right for fading a strong gap trend day up into the close.

Good day, all,

d-day

A good friend of mine trades nothing but Trader Vic Gap Rule. He only trades on the few days each month were the market gaps open and fails to fill the gap.

1) No gap, no trading.

2) Gap that is immediately reversed through prior high/low and hold - no trading.

3) Flat open, no trading.

4) Gap open - he waits

5) Gap fails to fill quickly, he trades in the direction of the gap only, and closes his positions EOD.

He knows at 9:30 AM EDT if he has any chance of trading on a particular day, and if it is a potential trade day, he is in by 9:45 AM EDT.

He starts with a very small account on the first of the month.

He ends each month with a remarkably large account, which he draws down to his inital starting amount on the last day of each month (I think he starts the month with 8K).

He is very disciplined. I wish I were so disciplined.

[richbois]

What a day it was

[jjc]

What a day it was


whats so amazing is that ur TTT and MTP make such a perfect fit

good job and thanks for posting that pic


j

[richbois]

whats so amazing is that ur TTT and MTP make such a perfect fit

good job and thanks for posting that pic


j

Your Welcome but I couldn't resist. Can't bat 1000 every day :)

[Steve Griffiths]

Hi Guys,

Yep, MTP had an amazing day as well, with the rally off the DP low on the 60-min ES chart I have posted over the last few days, nailing the low perfectly :)

But then just look where the rally yesterday went to, the "opposing" DP on the 15min chart - absolutely amazing ;)

Steve

[Minor]

Clean and simple what a nice auto

[Minor]

60 min has not taken a breath, 15 min DP is impulsive wave perhaps a PB

[jands]

Hi Rich,

From the TTT manual,

The following is in the Short Sell Day Chapter


"The stock or future can in this case rally fast-from the severe decline-and close strong and this would indicate that a high would be made FIRST on the next day-the Buying Day and would be another chance for a short sale, for a high made FIRST on a Buying Day, generally has some kind of a 'sell off'." Page 40

As long as your not giving away proprietary info, have we already made it the ideal entry for a short today, on a BUY day?

As I type a manual ABC has been would have been filled long on the YM and NQ.

We also have the "Trader Vic Gap Rule" in place today as well (indicating buying).

Just some conflicting stratigies, your opinion?

Jim

[jjc]

Hi Guys,

Yep, MTP had an amazing day as well, with the rally off the DP low on the 60-min ES chart I have posted over the last few days, nailing the low perfectly :)

But then just look where the rally yesterday went to, the "opposing" DP on the 15min chart - absolutely amazing ;)

Steve

fantastic job steve !

mtp is truly a great tool

j

[Eddo]

Hi Rich,

From the TTT manual,

The following is in the Short Sell Day Chapter


"The stock or future can in this case rally fast-from the severe decline-and close strong and this would indicate that a high would be made FIRST on the next day-the Buying Day and would be another chance for a short sale, for a high made FIRST on a Buying Day, generally has some kind of a 'sell off'." Page 40

As long as your not giving away proprietary info, have we already made it the ideal entry for a short today, on a BUY day?

As I type a manual ABC has been would have been filled long on the YM and NQ.

We also have the "Trader Vic Gap Rule" in place today as well (indicating buying).

Just some conflicting stratigies, your opinion?

Jim

Hi Jim

My two pennies worth is that we have the ES at around the TTT High for the day, the STF falling sharply and the Trin rising which all leads me to feel we have had the HOD and can expect a decline from here - I am short the AB from the 3rd 3 min bar of the day!

Having said that the way I have been trading for the last 5 weeks means I shouldn't really be making any comment on this excellent thred

Good luck with it - Chris

[jands]

Hi Jim

My two pennies worth is that we have the ES at around the TTT High for the day, the STF falling sharply and the Trin rising which all leads me to feel we have had the HOD and can expect a decline from here - I am short the AB from the 3rd 3 min bar of the day!

Having said that the way I have been trading for the last 5 weeks means I shouldn't really be making any comment on this excellent thred

Good luck with it - Chris

I want to agree with you but I haven't quite seen the topping action TTT describes although the ER is the closest of the bunch.

As I type the 50 ma has just given support in combination with the ABC pattern.

So as my Dad loves to say; "We'll just wait and see."

Good luck

[banimal]

Hey Guys,
Thanks for all your great posts. I'm learning a lot here. One other source I read on how to play a gap (Mastering the Trade by John Carter) states that all opening gaps like to be filled. So he suggests shorting (in the case of the ER2) with a sell STOP at the opening gap, with a buy STOP placed above equal to the gap, to allow the trade to run and not get stopped out. Once the gap fills, you're out of the trade. Just another perspective. It's worked on a paper trade, but I'm just starting out so don't ask me for real results just yet.
Chris B

[jands]

Bear suit, Bull suit, Bear suit, Bull suit,....

I think I will go watch some paint dry:D

[Eddo]

Bear suit, Bull suit, Bear suit, Bull suit,....

I think I will go watch some paint dry:D

Well I still have my furry suit on. Should have said the reason I took the AB short was because of the 15 min DP it smacked into - that combined with what I think was the TTT HOD on the ES and that we had made the High last yesterday lead me to put on the furry one :) My stop is in at the HOD and my tgt order is in as well so I am now not allowing my brain to confuse the issue even more :D

[richbois]

Hi Rich,

From the TTT manual,

The following is in the Short Sell Day Chapter


"The stock or future can in this case rally fast-from the severe decline-and close strong and this would indicate that a high would be made FIRST on the next day-the Buying Day and would be another chance for a short sale, for a high made FIRST on a Buying Day, generally has some kind of a 'sell off'." Page 40

As long as your not giving away proprietary info, have we already made it the ideal entry for a short today, on a BUY day?

As I type a manual ABC has been would have been filled long on the YM and NQ.

We also have the "Trader Vic Gap Rule" in place today as well (indicating buying).

Just some conflicting stratigies, your opinion?

Jim

Hi Jim

You picked the right part of the book and that is what should happen in a perfect life.

My statistic say that we have 90+ % of getting back to 1263 but like you say TVGR in effect. maybe we will get part of the 10%

Time will tell

Rich

[TAS]

Hi all,

it looks to me market can go anywhere from here, so...

NO PATTERN NO TRADE, i feel we might get into that 'less likely' 5% chance of TVGR...

Good luck all.

TAS

[jands]

Hi all,

it looks to me market can go anywhere from here, so...

NO PATTERN NO TRADE, i feel we might get into that 'less likely' 5% chance of TVGR...

Good luck all.

TAS

I like your thinking!

On another note, way to stick to your plan Chris (Eddo).

[jay21]

Hi Jim

You picked the right part of the book and that is what should happen in a perfect life.

My statistic say that we have 90+ % of getting back to 1263 but like you say TVGR in effect. maybe we will get part of the 10%

Time will tell

Rich

Hey Rich,

just a small question on the percentage there - I thought your book said 100% chance of getting below 1263 today - which would be a tad surprising as I always thought that there is nothing like a 100% secure trade out there...:)?

Thanks a lot man!
Johan

[jands]

Well I still have my furry suit on. Should have said the reason I took the AB short was because of the 15 min DP it smacked into - that combined with what I think was the TTT HOD on the ES and that we had made the High last yesterday lead me to put on the furry one :) My stop is in at the HOD and my tgt order is in as well so I am now not allowing my brain to confuse the issue even more :D

A nice, well planned Trade today Chris:cool:

Jim

[Eddo]

A nice, well planned Trade today Chris:cool:

Jim

Thanks Jim

So far so good - its about time I got something right :)

[rrs]

Hi Rich,

From the TTT manual,

The following is in the Short Sell Day Chapter


"The stock or future can in this case rally fast-from the severe decline-and close strong and this would indicate that a high would be made FIRST on the next day-the Buying Day and would be another chance for a short sale, for a high made FIRST on a Buying Day, generally has some kind of a 'sell off'." Page 40

As long as your not giving away proprietary info, have we already made it the ideal entry for a short today, on a BUY day?

As I type a manual ABC has been would have been filled long on the YM and NQ.

We also have the "Trader Vic Gap Rule" in place today as well (indicating buying).

Just some conflicting stratigies, your opinion?

Jim


Hi Jim,

Take a look at the 15 min chart of ES attached to this message. This snap shot was taken earlier in the day. The price volume relationship clearly indicates weakness.

In spite of the volume surges, the price has not made significant progress. The right edge of the chart indicates that ES is unlikely to rise any further with declining volume (lack of demand). Taylor talks about price volume relationship many times in his book. Combined with Richard's numbers, these signs point to increasing weakness in the ES. Analysing the many and varied nature of the price-volume relationship is a skill well worth developing.

Rama.

[richbois]

Hey Rich,

just a small question on the percentage there - I thought your book said 100% chance of getting below 1263 today - which would be a tad surprising as I always thought that there is nothing like a 100% secure trade out there...:)?

Thanks a lot man!
Johan

Hi Johan

the 100% was for the 24hr session and we did get that done.
the 90+% is based on the day sessions only

Rich

[jay21]

Hi Johan

the 100% was for the 24hr session and we did get that done.
the 90+% is based on the day sessions only

Rich

OK, understood - thanks!

[Eddo]

Thanks Jim

So far so good - its about time I got something right :)

My profit tgt of 711 has been hit and I am out for +4.5 R - the sun is shinning here in Tahoe so for me its now time for a drive over the Mount Rose highway to Reno for some retail therapy with Mrs E - good luck to all for the rest of the day :) Chris

[jands]

Hi Jim,

Take a look at the 15 min chart of ES attached to this message. This snap shot was taken earlier in the day. The price volume relationship clearly indicates weakness.

In spite of the volume surges, the price has not made significant progress. The right edge of the chart indicates that ES is unlikely to rise any further with declining volume (lack of demand). Taylor talks about price volume relationship many times in his book. Combined with Richard's numbers, these signs point to increasing weakness in the ES. Analysing the many and varied nature of the price-volume relationship is a skill well worth developing.

Rama.

I'm trying to learn about volume, so think you for the input. I don't recall much in the way about volume in the TTT manual but that wasn't my focus. I will defintely pay closer attention to it in my next reread.

Thanks again,

Jim

[rokster]

I'm trying to learn about volume, so think you for the input. I don't recall much in the way about volume in the TTT manual but that wasn't my focus. I will defintely pay closer attention to it in my next reread.

Thanks again,

Jim

Jim,

See if you can get hold of 'Master the Markets' by Tom Williams. In it he describes the relationship between volume and strength/weakness very accurately.

My 2 c
Niel

[d-day]

all opening gaps like to be filled

No they don't ... and those that do get filled do not always fill the day (or even the decade) of the gap.

In fact, since the market topped in October, no fewer than 6 unfilled upside gaps have finally been filled after 12-24 months of waiting. There are a few gaps dating back to the early 80's that I hope never get filled.

[jands]

Jim,

See if you can get hold of 'Master the Markets' by Tom Williams. In it he describes the relationship between volume and strength/weakness very accurately.

My 2 c
Niel

Found it, thanks for info.

Jim

[Larry22]

Don't know much about gap openings and volume but I do know that ER2 went from 1 DP to the other and that's all that matters. :D

[banimal]

No they don't ... and those that do get filled do not always fill the day (or even the decade) of the gap.

In fact, since the market topped in October, no fewer than 6 unfilled upside gaps have finally been filled after 12-24 months of waiting. There are a few gaps dating back to the early 80's that I hope never get filled.

Hi D-Day,
Thanks for the heads up re gaps. Just to clarify, I didn't say all gaps would be filled, but that in the book by John Carter, he said they "like" to be filled. It's still a probability play, just like taking any trade is as well. We're just playing the odds, and hopefully we have an edge to put them in our favor. Again, thanks for your experience in spotting unfilled gaps, which we should all be aware of.
ChrisB.

[rrs]

I'm trying to learn about volume, so think you for the input. I don't recall much in the way about volume in the TTT manual but that wasn't my focus. I will defintely pay closer attention to it in my next reread.

Thanks again,

Jim

You are welcome, Jim.

The most interesting pages in Taylor's book, at least for me, are pages 71 and 72 ( July 2000 Reprint of the book published by Traders Press)) where he talks about the volume.

Incorporating volume based analysis in a price based system, like MTP, significantly improves the trading outcome -- at least, in my limited experience. In the long run, only a large sample of trades collected under strictly defined trading conditions can refute or confirm this impression that is based on a relatively short period of trading.

Like TTT, price-volume analysis has a steep learning curve that can be mastered with persistence and systematic and sustained study. In deference to Steve's wishes, I will refrain from mentioning non-MTP resources and strategies that I found useful in developing this skill.

Rama.

[jands]

You are welcome, Jim.

The most interesting pages in Taylor's book, at least for me, are pages 71 and 72 ( July 2000 Reprint of the book published by Traders Press)) where he talks about the volume.

Incorporating volume based analysis in a price based system, like MTP, significantly improves the trading outcome -- at least, in my limited experience. In the long run, only a large sample of trades collected under strictly defined trading conditions can refute or confirm this impression that is based on a relatively short period of trading.

Like TTT, price-volume analysis has a steep learning curve that can be mastered with persistence and systematic and sustained study. In deference to Steve's wishes, I will refrain from mentioning non-MTP resources and strategies that I found useful in developing this skill.

Rama.

I have the 2007 reprint, so I will have to look.

I understand Steve's point and it is a valid one, especially since it is his forum. But I am an "on the other hand guy". So anything to help point out a major bottom or top so you can enter in the direction of the ABC pullback I think is very helpful to help capture those WAVE 3's.

Hey, but position sizing is the big key!!!

Thanks again Rama,

Jim

[jjc]

dont forget the dragon

tarragon didnt slay the dragon this time

:)

couldnt resist a little humor

oh, and price did go to DP , hows that for coincidence

j

[d-day]

Hi D-Day,
Thanks for the heads up re gaps. Just to clarify, I didn't say all gaps would be filled, but that in the book by John Carter, he said they "like" to be filled. It's still a probability play, just like taking any trade is as well. We're just playing the odds, and hopefully we have an edge to put them in our favor. Again, thanks for your experience in spotting unfilled gaps, which we should all be aware of.
ChrisB.

Hi Chris,

I dropped in this afternoon for a quick peak at the market and the forum, and then I was out again. I just re-read my earlier post, and it strikes me that it might sound a bit like the post of a bulletin board bully or "know-it-all" and I apologize if you or anyone took it that way. I was trying to be brief and quick to the point, and I did not mean to sound offensive in any way.


Best Wishes,

d-day

[rrs]

I have the 2007 reprint, so I will have to look.

I understand Steve's point and it is a valid one, especially since it is his forum. But I am an "on the other hand guy". So anything to help point out a major bottom or top so you can enter in the direction of the ABC pullback I think is very helpful to help capture those WAVE 3's.

Hey, but position sizing is the big key!!!

Thanks again Rama,

Jim

Hi Jim,

I couldn't agree more with you on position sizing. In combination with risk management it should form the foundation of any trading strategy. The major strength of MTP as a trading tool, in my view, is the built-in risk management and position sizing.

Here is an example, from today's ES 3 min chart, of what I discussed in my previous message. As you can see from the attached chart, there were two red flags that warned me that this was not, at least based on my own rules, a high probability trade. I have marked them both in the chart. Time permitting, I will try to post more of these charts with MTP trade setups along with some price-volume analysis.

Sincerely,

Rama.

[jands]

Hi Jim,

I couldn't agree more with you on position sizing. In combination with risk management it should form the foundation of any trading strategy. The major strength of MTP as a trading tool, in my view, is the built-in risk management and position sizing.

Here is an example, from today's ES 3 min chart, of what I discussed in my previous message. As you can see from the attached chart, there were two red flags that warned me that this was not, at least based on my own rules, a high probability trade. I have marked them both in the chart. Time permitting, I will try to post more of these charts with MTP trade setups along with some price-volume analysis.

Sincerely,

Rama.

Thanks Rama,

I, and I'm sure others appreciate the insight. It will be interesting to see your point of view on the market. And it will be interesting to read the book you recommended, unfortunately it will probably be a month or two before I get to it.

Any posts with charts will be great, but I understand how time consuming it is so don't let it take away from your trading.

I'll be gone for a week or so, so good luck, and thanks again,

Jim

[Steve Griffiths]

Volume.........

Hi Guys,

Here is how I use Volume - I look for a high volume "spike" that makes new highs or low, BUT which reverses right at our DP level.

This volume is buying by the professionals (not selling), because the decline could not continue.

A high volume spike, combined with a DP reversal, like this is a very very powerful combination. Yesterday, this nailed the low of the day on the NQ for you :)

I have taught this very setups in some of my Advanced Webinars.

Steve

[jands]

Volume.........

Hi Guys,

Here is how I use Volume - I look for a high volume "spike" that makes new highs or low, BUT which reverses right at our DP level.

This volume is buying by the professionals (not selling), because the decline could not continue.

A high volume spike, combined with a DP reversal, like this is a very very powerful combination. Yesterday, this nailed the low of the day on the NQ for you :)

I have taught this very setups in some of my Advanced Webinars.

Steve

Thanks Steve,

This is one important strategy that I use and apply.

Thanks,

Jim

[Sejake]

Since it's quiet this today....

From my very rudimentary knowledge of Taylor, I think today is/was a Sell Short Day(?), anyway that was my bias this morning. It looked like the high was made first at previous daily resistance, which = short.

Setup =
=====
Short entry after the dump (minor wave 5 up or intermediate 2 or B), now is it a C wave and done or a 3 and more down to come? My guess is up but I'll let the ATR make the decision...

I think basic Taylor target is the previous buy day high, so around 1263.25?
Not holding my breath for that though...

Sejake

[Steve Griffiths]

Hi Everybody

Interesting today on the "closing the gap" idea.

Here the ES "did" close the gap, but the YM did not........... so which was the better trade ?

Steve

PS, v6.0 is NOT real-time, I feed it from the eSignal MTPData1.efs

[jands]

Hi Everybody

Interesting today on the "closing the gap" idea.

Here the ES "did" close the gap, but the YM did not........... so which was the better trade ?

Steve

PS, v6.0 is NOT real-time, I feed it from the eSignal MTPData1.efs

Thanks Steve, and me just being me, Which will be the better trade next time, that is the question I want to know the answer to.

Thanks again for your post. Personally I would have gone for the ES since it did close the gap and would probably eliminate an additional push for another high but the YM was definitely weaker today and the clear winner.

All I can do is position size and take what I get. C'est la vie!!!

Thanks and good luck,

Jim

[radar]

Good Morning ALL.

Looks like combination of MTP and TTT would produce NON-discretionary level if you have your individual system to jump on board...

Good Luck.:)

TAS


Forgive my ignorance, but what is "TTT"?

Thanks,
Ben

[Sejake]

Ok, another ABC sell....

[Sejake]

TTT = Taylor Trading Technique

Search back over the last few hundred posts in this thread...it's quite an interesting discussion...

[kbandtheriptides]

Hey steve,
cool post..
how can we get the counts in RT ?.. Auto ?
next version?
KB

[richbois]

Since it's quiet this today....

From my very rudimentary knowledge of Taylor, I think today is/was a Sell Short Day(?), anyway that was my bias this morning. It looked like the high was made first at previous daily resistance, which = short.


Sejake

Just to let you know today was a SELL day, but it this case the trading idea that you mentioned was also correct

[richbois]

Forgive my ignorance, but what is "TTT"?

Thanks,
Ben

Hey Ben check this website for more info on TTT

www.taylortradingtechnique.net

you will see that it is a perfect match with MTP

[Sejake]

ok, so much for minor ABC sell...

Now it's official though....

[Sejake]

Just to let you know today was a SELL day, but it this case the trading idea that you mentioned was also correct

Ok, thanks for the correction Rich. It was to good to pass up though...
Back to the drawing board I guess...:o

Just to clarify, my platform counts the Sunday evenings as a day, do you (should I be counting those?). If this interferes with your service please disregard this.

Again thanks for the clarification.

S

[Sejake]

Ok, that one worked out well.....:o

[Steve Griffiths]

Hi Everybody

Here is a perfect example of what I was talking about earlier on "high volume spikes" that reverses at DP's

This nailed the high perfectly for a very nice +7R decline :)

Steve

[jjc]

Hi Everybody

Here is a perfect example of what I was talking about earlier on "high volume spikes" that reverses at DP's

This nailed the high perfectly for a very nice +7R decline :)

Steve

hi steve

since there is a high volume spike here at the bottom dp are you going long now?

thanks

j