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AR01 Price Area Journal (Not a trading journal)
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AR01 Price Area Journal (Not a trading journal)

  #51 (permalink)
Elite Member
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Futures Experience: Beginner
Platform: MT4, Ninja Trader
Favorite Futures: EUR/USD
 
Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

03_12_10 Pre-Market

The news already moved price up to the zone as I was rolling over the contracts. The next move up (assuming it moves up) will be to 1157ish (red line).

Upper zone: 1151 - 1154
Resistance 1: 1149
NYSE Open:
Resistance 2: 1146
Lower zone: 1141 - 1144

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  #52 (permalink)
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Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

03_12_10 Results

The rule about support becoming resistance when broken was true today.

Price meandered down out of the upper zone, broke resistance 1 and to the tick to the resistance 2. Back up to resistance 1 and down to resistance 2 for a couple of bars and the the third time was the charm. Through resistance 2 down to the lower zone. Up / down / up down the rest of the day from resistance 2 and the lower zone.

Upper zone: 1151 - 1154
Resistance 1: 1149
NYSE Open: 1150
Resistance 2: 1146
Lower zone: 1141 - 1144

Note: we are over 50 posts and close to 1000 views. This has helped me tremendously for my trading before work. I have good targets and/or reasons the market reverses/pauses.

Andrew

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  #53 (permalink)
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03_15_10 Pre-Market


Upper zone: - 1146 - 1149
Resistance 1: 1144
NYSE Open:
Resistance 2: 1141
Lower zone: 1139 - 1136

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  #54 (permalink)
Elite Member
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Futures Experience: Beginner
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Favorite Futures: EUR/USD
 
Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

03_15_10 Results

The day didn't break out of the resistance lines until after I went to work. After resistance 2 broke the market moved to within a few ticks of the bottom of the lower zone. Up to res 2, down to top of lower zone, then all the way up to the bottom of the upper zone. Nice. I hope someone caught that run. That was a 10 pointer

Upper zone: - 1146 - 1149
Resistance 1: 1144
NYSE Open: 1143.50
Resistance 2: 1141
Lower zone: 1139 - 1136

Andrew

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  #55 (permalink)
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03_16_10 Pre-Market

FOMC meeting today = narrow range?

Upper zone: 1150.50 - 1153.30
Resistance 1: 1148.50
NYSE Open:
Resistance 2: 1146
Lower zone: 1141 - 1144

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  #56 (permalink)
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03_16_10 Results

I wish I could have stayed around to trade longer today. Only a few points within the range before I had to go to work. But the lines and bands did their job today. Picture attached and it speaks for itself.

Open was right down to the Res 2. Then back up to Res 1. A retracement that didn't take us to Res 2 so it was likely Res 1 was not going to hold. Punch through Res 1, held, then on up to 2 ticks to the top of the upper zone. Back down to within 1 tick of Res 1.

Then FOMC news. But notice how it still respected the areas we marked this morning. Nice

Upper zone: 1150.50 - 1153.30
Resistance 1: 1148.50
NYSE Open: 1148.75
Resistance 2: 1146
Lower zone: 1141 - 1144

On Friday (post 52) we hadn't hit 1000 views but today we are at post 55 with 1092 views. We must be building some viewership.

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  #57 (permalink)
 Vendor: www.probabletrades.com 
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How are the price levels computed?
How do one trade these? Bounce off of S/R? Or play the breakout/breakdown?

I like trading horizontal lines

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  #58 (permalink)
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The indicators are the constant line / constant zone from the downloads, which I update everyday before the NYSE open.

The blue lines are based on my view of support and resistance from the overnight session or something that is obvious from prior days, i.e. a cluster of turning points. The zones are just + / - from the blue lines. I'm playing around with the distance from the blue lines as part of this exercise.

I post these before NYSE just to help me understand where important price areas are going to potentially be for the day. I do not have a trading plan for these yet. Post 1 describes why I am doing this, which is to help me understand support / resistance and that (1) price returns to the same areas and (2) price likes to extend those areas at some point (stop running by the professionals).

Andrew

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  #59 (permalink)
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Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

Oh, and I agree. I'm beginning to like horizontal lines better than moving / averaging indicators.

I'm going to develop a plan to use these at some points. My day job keeps me way too busy right now. Conference calls at 7AM tomorrow will make the trading morning shorter than normal. Bleh! But the day job pays the bills while I'm learning to trade. So really I shouldn't (but I love to) complain.

Andrew

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  #60 (permalink)
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Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

03_17_10 Pre-Market


We are coming into new trading areas. Nothing quite obvious today except way below these prices.

Upper zone: 1160 - 1163
Resistance 1: 1158
NYSE Open:
Resistance 2: 1154.50
Lower zone: 1152.50 - 1149.50

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