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interesting ES chart
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interesting ES chart

  #1 (permalink)
Market Wizard
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interesting ES chart

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  #2 (permalink)
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I find it interesting to compare both the ES versus the 6E at times when out of ordinary movement occurs. I don't remember having seen the ES leaving the initial balance IB upper 3 in the dust as the 6E did today. Quite impressive.

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trendisyourfriend View Post
I find it interesting to compare both the ES versus the 6E at times when out of ordinary movement occurs. I don't remember having seen the ES leaving the initial balance IB upper 3 in the dust as the 6E did today. Quite impressive.

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They're unwinding long spx/ short euro spreads as the correlation re-couples or reverts back to positive

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interesting ES chart-es-03-12-daily-_-6e-03-12-daily-8_11_2011-1_26_2012.jpg  

Last edited by tigertrader; January 25th, 2012 at 03:00 PM.
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trendisyourfriend View Post
I find it interesting to compare both the ES versus the 6E at times when out of ordinary movement occurs. I don't remember having seen the ES leaving the initial balance IB upper 3 in the dust as the 6E did today. Quite impressive.

imho an initial balance for 6e is not very useful. if, then you would need 2 of them. because the european opening is as important as the us opening. many times you even got more volume in the european session.

hence that's why it's eur / usd

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Interesting ES Chart

2 years ago around this time -1/26/2010 the ES sold off ~100pts.

Last year the market rallied all of Dec, Jan and 1/2 of Feb. before pulling back ~100pts.
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Silvester17 View Post
imho an initial balance for 6e is not very useful. if, then you would need 2 of them. because the european opening is as important as the us opening. many times you even got more volume in the european session.

hence that's why it's eur / usd

hence that's why it's eur/usd?

In a currency pair, the first currency in the pair is called the base currency and the second is called the quote currency.

Currency pairs can be separated into two types, direct and indirect. In a direct quote the domestic currency is the base currency, while the foreign currency is the quote currency. An indirect quote is just the opposite: the foreign currency is the base currency and the domestic currency is the quote currency. For an American trader, the EUR/USD quote is an indirect one. So, for example, a quote of 0.80 EUR/USD would mean that it takes 0.80 euros to purchase US$1.

Although nearly 89% of the currency trades made around the world involve the U.S. dollar, the EUR/USD currency pair is always quoted indirectly. The reason for this is mostly convention. A EUR/USD quote could easily be shown as USD/EUR by making a simple calculation, but there are no strict rules that determine whether a currency pair is shown directly or indirectly. The way currency pairs are quoted can also vary depending on the country in which the trader lives - most countries use direct quotes, while the U.K., Australia, New Zealand and Canada prefer indirect quotes.


Last edited by tigertrader; January 25th, 2012 at 03:26 PM.
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Silvester17 View Post
imho an initial balance for 6e is not very useful. if, then you would need 2 of them. because the european opening is as important as the us opening. many times you even got more volume in the european session.

hence that's why it's eur / usd

If random lines can be useful imagine what mathematical levels based on the open can be.

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trendisyourfriend View Post
If random lines can be useful imagine what mathematical levels based on the open can be.

RTH - Opening(range) and the IB (first hour of trade) are extremely important, as is the close. In fact ,there was a positive correlation between the IB and the next 5 and 1/2 hours of trade in the past. Not sure if the correlation is prevalent to date.

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interesting ES chart-spy-intraday-return-relationships.png  
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trendisyourfriend View Post
If random lines can be useful imagine what mathematical levels based on the open can be.

if you look at es, you can clearly see that the main focus is the us session. now if you look at 6e, you can see it's about even between european and us session.

my point is, the european opening is as important as the us opening.

let's try it another way. most european traders wait till us opening to trade es (for obvious reasons). now for 6e there's no need to wait for us opening.

probably doesn't make sense. well at least I tried.

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Silvester17 View Post
...
my point is, the european opening is as important as the us opening...

Given what you wrote here, how can you say the US open is trivial for trading the 6E and measuring the effect of it by way of the initial balance ?

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