Discussion in 'Journals' started by interdim, Jun 12, 2016.
I recall the first thread in this series.
It was incredible.
ES_6_27_16. This is what the data was telling me the form of the market would be today. 930 was a broken sequence on the Sym Valley. Translating the data gives me the form.
A simple but effective tool to follow the market with is the 3x2, and it works on any time frame. It is the average of 3 time bar closes displaced or moved forward by 2 bars. If the market is below the 3x2 and price is moving down to the right, you have a negative trend, if it is above the 3x2 and price is moving up and to the right you have a positive trend. As you work with this you will discover many aspects about how this tool can be utilized. This is not an original idea and there are variations of it out there. Works nicely with other tools you may use.
1330 was a Sym Valley broken sequence again. 1430 was a Q Valley broken sequence, and according to what was written about Q broken sequences they involve 2 time bars, the one before they actually occur and the one time frame they occur on. Look at 1400 and 1430 red bar down and green bar up on the 30 Minute data. Now check out the 3x2 on the 30 Minute data from 0930 and the Form of the Market file posted earlier, it is a mirror image of the form of the market today. All of these aspects are calculated before they happen. Both Sym Valley's set up great trades today and fit nicely into the form of the market. 5 point trades were easily achieved and if you trailed them properly or just used the 3x2, they were worth much more.
Attached is a visual of what was just described.
Intraday short covering began at a double bottom around 1530 and a break of the 3x2 at 1988, even fueled the rally more, but your downside targets were hit long before that happened. Trading with targets is always best, because we all know anything can happen.
ES Daily from 4/4/16 to 7/1/16. if you know how to use this chart in conjunction with the Weekly you can find tops and bottoms with the Broken Sequences, and of course with the correction translation, the entire form the market would take. You can even see glimpses of it in these charts, especially Q. Today (6/28/16) 1130 will likely be the most significant turn today, but not without some swings back and forth this afternoon. I'll let you find those other broken sequences.
I wouldn't be surprised if this recent 2006.00 Low during the 1130 Sym Valley 30 Minute could be near the Low for rest of the day. You will definitely see some Q Peak and Valley swings back and forth. A Q Valley Broken Sequence was the 1000 High. Should be for an interesting afternoon. 1200 is a Sym Peak so we'll see if it challenges that 1130 Low, or reverses off of it.
Here are the intraday charts for ES 6/29/16 and the Broken Sequences: Q Peak-1000, 1230
Q Valley-900, 1030,1200,1600 Sym Peak 1100, 1300, 1500 Sym Valley 1230. Check to see if I got them right and how I did it. Watch how the market trades on the time frame before a Q Peak or Valley and then what happens on the actual time frame of the Q Peak or Q Valley. Observe the price behavior. Remember Q's are about completing a form of symmetry. I'll let you determine where the most significant turn will be. I gave that one to you yesterday.
1230 Sym Valley
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