I am surprised consensus among the more experienced traders here seems to be PA/TA was abnormal today. I was surprised to see that big move up from 3105 as well, but I did expect a bounce there. And it is not the first time I close my long way too early and then watch it going higher and higher while I am waiting for a short entry. Don't get me wrong please, I am not saying it was all clear to me. If all you guys see something I didn't it means there is something to learn. Was it the fact that it reversed after being a strong outside day? Or is there more I should be looking for?
This thread is really great by the way, thanks for the daily posts guys. I am sure many silent visitors appreciate it as well. Too bad NQurious left, really liked his style as well. Hopefully he'll be back some day.
I don't have answers... we are living in unusual times socially, technically, financially... Aren't you the guy who came within a tick or two of a 100 point win the other day? Maybe we should listen to you!
How was today any different that any other day on the ES? Here's yesterday's RTH starting at left of chart to EOD... Up, down, then up. Here's today's chart... Down, then up, but with the Biden hiccup at 3:15PM ET. We've seen these patterns before?
I am making progress and actually have been on a nice winning streak lately but I am at best just struggling less than before. Main reason I sometimes post my thoughts or charts is to provoke constructive criticism. And that shot at that 100 pointer was just that: a lucky shot. Though would have been happier if I would have been 1 tick more lucky
The biggest difference is that we broke the 60 min channel to the upside.. taking out yesterdays swing hi... followed by heavy selling on hi Volume w/ no bids ..taking out yesterdays swing Lo... Creating what`s called an Outside Day... which is a reversal set up! The mere fact that we climbed outside the channel again to the upside without a proper/ significant retrace, makes it far from a typical day on the ES! Feel free to jump in mid session/ real time if PA/ setup, etc. should jump out to you that counters what we`re posting.... again, post market calls are always the obvious ones....
TPO stands for Time Price Opportunity. By using a TPO chart, you are able to analyze the amount of trading activity, based on time, for each price level the market traded at for any given time period. The TPO Profile Chart study allows you to clearly see the areas where the market is trading at most of the time. i had to look it up too.