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Trading the SLA/AMT Intraday
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Trading the SLA/AMT Intraday

  #101 (permalink)
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DbPhoenix View Post
I ought to post this as well, for those who are going to stay up all night to watch price:

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I believe this is what the books call a "diamond". But if price bounces around within its confines, it becomes the usual hinge, and if price busts out of it before reaching the apex, there might be an opportunity. OTOH, if it works its way all the way to the apex, as I said somewhere earlier, more likely it'll just drift again. If it were Friday, I'd vote for ranging. But you never really know.

So we broke out of the "diamond" at 0300 but didn't go far as we remain inside the boundaries of the range. However, 33 to 75 is nothing to sneeze at, so there may be a reversal op at 75. If not, another day of doing nothing, unless one focuses on some other instrument.

Nobody promised that the SLA would be thrilling.

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  #102 (permalink)
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Thoughts.

Will be interesting to see how this plays out in real time, after hitting the upper extreme can price find its way back to the lower extreme at 33, could price break out and trend to the wider range at 4510 on the upside or break down to 4390. And if it does so, would this put us into the daily/weekly context for a possible move to the respective extremes of their trending ranges?

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  #103 (permalink)
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Gozilla View Post
Will be interesting to see how this plays out in real time, after hitting the upper extreme can price find its way back to the lower extreme at 33, could price break out and trend to the wider range at 4510 on the upside or break down to 4390. And if it does so, would this put us into the daily/weekly context for a possible move to the respective extremes of their trending ranges?

Gozilla.
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Interesting conjectures, if one is observing. If one is trading, the question is whether or not one traded the reversal off 75. If not, why not (especially as I pointed this out an hour ago )?

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  #104 (permalink)
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DbPhoenix View Post
Interesting conjectures, if one is observing. If one is trading, the question is whether or not one traded the reversal off 75. If not, why not (especially as I pointed this out an hour ago )?

I watched the hinge BO, and whilst there was a retrace for a possible long, the only game in town at that moment in time IMO was a reversal off 75 or a breakout above the range. Whilst I would have liked to have taken the reversal, there is still some work for me to do before I can contemplate actively trading it.

 
  #105 (permalink)
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Gozilla View Post
I watched the hinge BO, and whilst there was a retrace for a possible long, the only game in town at that moment in time IMO was a reversal off 75 or a breakout above the range. Whilst I would have liked to have taken the reversal, there is still some work for me to do before I can contemplate actively trading it.

You'll first have to decide for yourself whether or not to trade ranges, and that literally is something you'll have to decide for yourself.

As long as you're looking at this and it's all new, I suggest you look at how price behaved at the point or level at which you'd have taken your long and compare it to how price behaved when it reversed off 75.75 (which was a tick below the top of the range established yesterday). Which trade would you rather be a part of? Which would be "safer"? Which would provide a tighter stop, either mental or hard (transmitted)?

Sure are a lot of people here. What's up, george?

0932: Note that after price tested 75 at the open and reached 76, there was no recoil whatsoever. Now you have a springboard. Ten pts in 1m is not bad. Do you take it or let it ride (this has to be decided in advance)?

0937: You should have turned away from your 5s chart by now or you'll go blind.

0940: Traders jumped the gun a bit at 0929, the scamps. So I'm going to use 72.5 as the beginning of the upmove, which puts the MP at 82.5. As that's where the first swing took place, that seems good (though at the time the MP could not have been established; that had to wait until we reached 92.5). By now the SLA would have taken over as we're trending, but AMT gives us the target: 4544. In the meantime, the long can be ended in the usual SLA way, but we're only 50pts away, so let's not prejudge anything.

0946: Those who've read the SLAB know that they could have fanned their DL by now. And those decisions that have by now been made () regarding what constitutes a break and how much of a break is allowable come into play. In the meantime, relax, breathe, breathe again.

0952: Note that some call that 10m springboard at 0935 HTFs or Bull Flags. Wyckoff just called all that sort of thing springboards. He wasn't a fan of the geometric shape thing. Note also that it's barely detectable on the 5m. The 15m people can't see it at all. They'd call it "noise".

"WhyCough"? Funny. Sounds like a prostate exam.

0956: And, yes, this is another SB. 2nd wave.

0958: DL being tested. If your respiration is increasing, just breathe.

1002: 4pt range here. Either put a stop below 4500 or exit. Your choice. Incidentally, one can expect this sort of thing at a century mark.

1004: Given that we're now ranging, the DL is largely irrelevant; the range limits take over and one manages them just as he would any other range. If we break out to the upside, one can fan the old DL or start a new one.

1006: And we start wave 3 (still wave 1 on the 15m).

1010: I should mention that at this point, these lines become largely irrelevant. Either we reach 4544 or we don't. In the meantime, the last swing lows make good exit triggers, or if one wants to take the money and run, he can just exit whenever he feels like it.

1019: Activity level has sunk dramatically. Pace isn't so hot either. BTW, one trade so far.

1028: And now we're ranging again. This sucker's really tired. Now would be a good time to put a stop under this little range and get away from the screen.

1033: Each to his own but I would NOT attempt a short here. If exiting, I'd just exit and be pleased with the morning and go do something more interesting with the rest of it (are you listening, lajax?).

1046: On our way again, but not much conviction.

1050: Please note that 4544 is a target, not a guarantee. Manage the trade. If we DON'T make it there, that sends a message of its own.

1152: I'm going to assume that nobody bought, but if anyone did, there's nothing wrong with locking in one's profit here and re-entering in the event of a continuation. This could go on for hours.

1203: Incidentally, as this is shaping up to be a potential springboard on the 15m, I expect a different level of trader to notice. Whether they act on it or not is another matter.


Last edited by DbPhoenix; June 18th, 2015 at 01:04 PM.
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  #106 (permalink)
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DbPhoenix View Post
You'll first have to decide for yourself whether or not to trade ranges, and that literally is something you'll have to decide for yourself.

As long as you're looking at this and it's all new, I suggest you look at how price behaved at the point or level at which you'd have taken your long and compare it to how price behaved when it reversed off 75.75 (which was a tick below the top of the range established yesterday). Which trade would you rather be a part of? Which would be "safer"? Which would provide a tighter stop, either mental or hard (transmitted)?

Price hung around the long entry after the hinge and chopped around for over an hour, as observed, once price found the extreme at 75/76 the move away was swift, this behaviour is more convincing of a possible imbalance and what I would expect to see at a range extreme.

Range extreme short is the better trade, which in hindsight is easy to see, but, the first ret gives an entry at 72, but, with it being a range extreme trailing price within the context of the upcoming extreme by a point would give an entry around 74 and the stop perhaps a point of two above the range extreme, if the stop is hit a BO is more likely (MAE studies)

Gozilla.

Oh how things change so quick, that was pre-market this is the open.
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Just updating to follow the action as per post above.
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Last edited by Gozilla; June 18th, 2015 at 11:23 AM.
 
  #107 (permalink)
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Gozilla View Post
Price hung around the long entry after the hinge and chopped around for over an hour, as observed, once price found the extreme at 75/76 the move away was swift, this behaviour is more convincing of a possible imbalance and what I would expect to see at a range extreme.

Range extreme short is the better trade, which in hindsight is easy to see, but, the first ret gives an entry at 72, but, with it being a range extreme trailing price within the context of the upcoming extreme by a point would give an entry around 74 and the stop perhaps a point of two above the range extreme, if the stop is hit a BO is more likely (MAE studies)

Actually it's easy to see in real time as well, but you have to be there.

If one is going to daytrade this, particularly if he wants to trade only the first 90m, he really needs to be there at least by 0800.

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  #108 (permalink)
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Was that a greeting to me? If it was, I am just seeking a fine education in this method, and you, Db, are doing a great job of providing it. Greatly appreciated.

 
  #109 (permalink)
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georg7e View Post
Was that a greeting to me? If it was, I am just seeking a fine education in this method, and you, Db, are doing a great job of providing it. Greatly appreciated.

Yes, it was. But you've been watching for an awfully long time. Years. Maybe the SLAB will give you a boost.

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  #110 (permalink)
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Hi Db, thanks for do this kind of exercise I really appreciate and is very helpful.

I wanted to share how I trade today.



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