Hi Db, not sure if this is on message of this thread, but I needed to zoom out to get a sense of the above quote. *All of this is in hindsight of course! It seems traders were focused on the daily price mid line as price bounced off of it on 10-10-13 http://i746.photobucket.com/albums/xx110/chrismightbeinmexico/dailyNQ_zpse7e86a46.jpg Because pice was travelling down to the daily mid line I drew S/D line (down trend) on a 60m chart Overnight on 10-11-13 it pushed through the mid line 60m (down trend) creating a possible new S/D line (up trend) on the 60m http://i746.photobucket.com/albums/xx110/chrismightbeinmexico/60mNQ_zps54c741aa.jpg From about 7am until the NY 9:30 open price was testing the 60m demand line (up trend) http://i746.photobucket.com/albums/xx110/chrismightbeinmexico/1011131mNQ_zpsc51a7cdd.jpg After the open HH & HL suggested a possible push off and up of 60m (up trend) demand line, to the 60m mid line(up trend) or the 60m supply lines(down trend). I would go long at 9:40am The 1st and 2nd pullback on the 1m happened at the 60m supply line(down trend), the third around 10:09 would have been a good place to take some profit or go flat From 10:12 to 10:27 : LL (weak,just poked the demand line quick recovery), LH (possible start of down trend need more info) LL (strong bounce of new demand line) HH Sign bulls overpowered the bears. At this point sellers could not really take control, price is side ways and I am not seeing a long or short so time to wait. 10:50 to 10:54 am bounce off of the 1m down trend demand line and both the 60m demand line (up trend)60m supply line(down trend), it only took price about half an hour to rally 23 odd points from the open to the last swing high and almost 50 min to drop 12 points, again showing weakness of the sellers so I would have entered long at 10:54 with the goal to either have price clear the supply line and or get stopped out just under entry of 10:54 BTW: Thank you for this thread!
I see some progress being made after just focusing on one day, or mainly only 2 hours, of price movement. The visual aspect of trading and really seeing price move is the key here. Those who have charts that require the eyes of a superman to zoom into it are going to have a tougher time getting to 'really' see price move. I'll post a chart below despite my not having much time to comment. I'll have around 13 charts to post for this past Oct 11, 2013 NQ trading day. These charts are the 1 min charts that are freely available. I am by no means a master of it but perhaps this will give us a visual queue to refer to the parts that are important with ease and discuss them at length. Our greatest asset here is Db, and we need to give him enough space to at least breathe a bit. I can assure you his eyes see what most eyes pretend to be seeing. His nose smells what most noses don't even know exists. His ears hear what others consider to be mere silence. His mind conceives of things that although in front of us are still not comprehensible, not only because of their complexity, but also because of their simplicity. There have been quite a few of us discussing and posting this even on weekends and forget the weekends, even during the evenings and late evenings. I can assure you there are a lot of other things a person can conceive of doing than looking at the squiggly lines on a chart representing the the confusion of the market mixed with the confusion of the chartist. So lets all pledge to not kill the golden goose, shall we? Lets hope we can re-focus and bring order to this chaos. DL = blue line SL = pink line Green dot = buy Red dot = sell Black dot = exit Here's the first chart from the open: Gringo Edit1: 12 more charts to follow. Is everyone on board with the Buy, not knowing what's on the left of the chart? Edit2: I just called Db a goose in this post with such a silky touch that he's not sure whether to punch me in the face or to hug me Edit3: Most of you must have heard of the Turtle Traders. Perhaps we'd one day be known as the Geese Traders! Edit4: Why are you still reading and not looking at the chart? Q1: There is a possibility of another entry prior to the one shown in this chart. Can anyone see which one it could be? State the approximate price and time for clarity. You just need to look at this chart to figure this out, no external devices needed. Q2:Why is that entry missed on this chart? What's needed to squeeze that extra juice out of the market? Now I could be wrong here, and we'll be needing the goose to keep a watch and protect the goslings.
Thank you for the chart, but I'd rather you suspend this until we get the premkt chart (the one I posted) out of the way. I'm in no hurry. I did this over and over again at TL to no effect. Maybe the ET traders aren't quite so . . . umm . . . well . . . To reiterate: One can't just charge forward until he understands where he's been. Where would you plot your first line here, and what signs of change would you look for?
Oh. I thought people were going back and forth randomly. This will be suspended until further notice. At least I have the charts downloaded so whenever the time is right the Kraken shall be released. Gringo
Would the lower high at 9:28 be a buy if we are not using bars as signals then the lower high would be an ok place to go long!
DB: Those thin lines would be drawn when having two reasonable higher highs for SL and two lower lows for DL. The first line i would draw at the last bar close is thick SL to track supply because supply is overcoming demand at the moment seen by all SL are not broken yet. The the second line i would draw is the thick DL, because i feel we always want to track closely demand too by most recent DL. Now the last bar is right between thick DL and SL, i would look for breaking above thick SL or breaking down thick DL to assess the imbalance between demand and supply. We can also say the market is on the hinge or spring board, ready to jump up or down. (for hinge, i remember you said the market should break by 2/3 to the apex, so it is not the case here; but prob 1m chart would show it clearly a hinge. I decided not to see 1m chart anyway.) Edit1: i just realized the thick DL and right upper thin SL is forming a hinge, 2/3 to the apex. Edit2: i just realized i did one thing correctly: minimum terms. i just changed swing H/L to higher high/lower low. So now only DL, SL, lower low, higher high. Edit3: Hinge and spring board should not be written here. Anyway, i would not erase them but please feel free to ignore the related part.