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TF thread (Russell 2000) ... anything goes
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TF thread (Russell 2000) ... anything goes

  #721 (permalink)
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This is the daily Ichimoku....for those that didn't jump on at 808 a while back a retrace to the TS or preferably the KS is a spot to look to look for an entry long.

That being said it looks like todays bar will be a bullish engulfing bar so with that being the case I'm thinking we might just break the high and then come back and take it out and maybe work our way down to 825ish anyway.

I'm short...playing out as I layed out here so far, but it's still early. Have to get under 838 then 834 to really have a good shot

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  #722 (permalink)
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What I'm looking at....notice the pinbar on top

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  #723 (permalink)
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could retrace to about 842ish then drop again....probably will get back to 841.2 anyway I'm thinking

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Just getting acquainted with Russell 2000

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... the market movement since NY Open has been very interesting.

Lolu

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  #725 (permalink)
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lolu View Post
Just getting acquainted with Russell 2000 ... the market movement since NY Open has been very interesting.

Don't mean to interrupt what is a great thread (which I don't seem to be disciplined enough to follow), but as I venture away from the BS of ES trading (), I am finding TF incredibly responsive to fibs, of both yesterday's price range - using FT's great anaFibsFromPriorDay as well as the current day's fibs, once decent or the bulk of a day's range is in place.

In case you use twitter, TheFibDoctor is a frequent TF seemingly fib trader, with TF trades provided often.

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Don't mean to interrupt what is a great thread (which I don't seem to be disciplined enough to follow), but as I venture away from the BS of ES trading (), I am finding TF incredibly responsive to fibs, of both yesterday's price range - using FT's great anaFibsFromPriorDay as well as the current day's fibs, once decent or the bulk of a day's range is in place.

In case you use twitter, TheFibDoctor is a frequent TF seemingly fib trader, with TF trades provided often.

@Beljevina,

Do you use the Daily chart for your Fib setup ... could you please post/share it ?

Lolu

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Sure @lolu. Here's what today's chart looks like for me. I usually use a 3-minute for TF. I've seen TF 'more' adherent to some of the levels I'll mention, but today is pretty good, on the whole.

There was an open and move into yesterday's high + R1, which got rejected. Peak volume came in (overwhelmingly sellers?) resulting in the dashed white line. You can then see the move down to the 23.1% of yesterday's PA (hidden behind the bars, in my chart), which was also minor pre-RTH open support. Although there was a reaction up, it ultimately failed as things started to move down. I can't say 38.2% of yest showed any support on the move down, but it did provide resistance once below it. Items like the pivot (PP) especially when they confluence with 50% of yesterday's PA and yesterday's ETH close, are high likelihood areas for support or at least a bounce. I'd say 61.8% of yesterday worked (although I/we like to see pins into that area), and along with ES and other assets, a move up looked to be developing.

By that point, we'd established today's range (which we can only assume), and you can see yesterday's 38.2% provided minor resistance, as did Y-VWAP. As price moves up, note the pause (minor 'battle'?) at the D-Mid point of today's fib/range. A further move up saw 1) R1 and 2) the (dashed) PVP and 3) daily 78.6% provide added resistance, as we then proceeded to (again) 23.1% of yesterday's range + the daily 61.8% provide support, and then the range game develops into the NY afternoon, presumably waiting for "Manipulative Ben" to do his manipulation, err, I mean magic.

P.S. - The right template to use for the levels on my chart is CME US Index Futures ETH.

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Beljevina View Post
Sure @lolu. Here's what today's chart looks like for me. I usually use a 3-minute for TF. I've seen TF 'more' adherent to some of the levels I'll mention, but today is pretty good, on the whole.

There was an open and move into yesterday's high + R1, which got rejected. Peak volume came in (overwhelmingly sellers?) resulting in the dashed white line. You can then see the move down to the 23.1% of yesterday's PA (hidden behind the bars, in my chart), which was also minor pre-RTH open support. Although there was a reaction up, it ultimately failed as things started to move down. I can't say 38.2% of yest showed any support on the move down, but it did provide resistance once below it. Items like the pivot (PP) especially when they confluence with 50% of yesterday's PA and yesterday's ETH close, are high likelihood areas for support or at least a bounce. I'd say 61.8% of yesterday worked (although I/we like to see pins into that area), and along with ES and other assets, a move up looked to be developing.

By that point, we'd established today's range (which we can only assume), and you can see yesterday's 38.2% provided minor resistance, as did Y-VWAP. As price moves up, note the pause (minor 'battle'?) at the D-Mid point of today's fib/range. A further move up saw 1) R1 and 2) the (dashed) PVP and 3) daily 78.6% provide added resistance, as we then proceeded to (again) 23.1% of yesterday's range + the daily 61.8% provide support, and then the range game develops into the NY afternoon, presumably waiting for "Manipulative Ben" to do his manipulation, err, I mean magic.

P.S. - The right template to use for the levels on my chart is CME US Index Futures ETH.


@Beljevina

interesting.

even though I fail to see the logic behind that. (don't worry I fail in a lot of things). when cme is closed between 16:15 and 16:30 est, tf is still open and trading. sure not much, but still open.

tf trading hours: https://www.theice.com/productguide/ProductSpec.shtml?specId=86#


Last edited by Silvester17; September 12th, 2012 at 02:53 PM.
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@Beljevina

interesting.

even though I fail to see the logic behind that. (don't worry I fail in a lot of things). when cme is closed between 16:15 and 16:30 est, tf is still open and trading. sure not much, but still open.

@Silvester17 I am quite/too often out to lunch myself but ... that template provides for hours right up to 4:15pm EST (3:15 CST) and then restarts the day at 4:30pm EST (3:30pm CST). I guess I didn't notice that TF is still trading ... I guess I have to venture over to the CME site to see the hours ... strange, one index trades, another doesn't ... things that make you go hmmm ...

EDIT: Wow ... you learn something every day ... I guess one has to create their own template for these hours ... now to see the difference in the fib levels ... if any ...

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Edit 2: @Silvester17 , @lolu I created the right template and thankfully nothing changed in the fib levels. I guess as long as the highs and lows are not created during those weird afterhours (4:30pm est to 8pm), the levels would still be the same.


Last edited by Beljevina; September 12th, 2012 at 03:54 PM.
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wrong thread

Psychology > Strategy ≥ Money
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