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Trading the 6E Old School, With a Twist
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Trading the 6E Old School, With a Twist

  #301 (permalink)
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There's no School like the Old School

TR Number Examples

This is a follow up of the previous post, I know many here on futures.io (formerly BMT) trade the 6E around the London open and I wanted to post a few "real world" examples of price interacting with the TR Numbers. I failed to include much context (forgive me) but this post and the previous post are focused on, IMO, the Big Three, Whole numbers, TR numbers and the previous day's High and Low. These charts are from last week, the same as the daily charts in the previous post, FWIW, the time zone is EST, the "right" coast.


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I did this "by hand" and it was a bit confusing, I also started and stopped a couple times, I hope these lines are all correct. Thanks guys for following the thread.


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  #302 (permalink)
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There's no School like the Old School

Classic, 2X TR Move


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  #303 (permalink)
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There's no School like the Old School

Support & Resistance


The whole notion of the TR Numbers are to identify tomorrow's support and resistance before the start of the trading session. These lines are the price levels I had on my chart before the Sunday open. Both areas of support and resistance are derived from four numbers, these numbers are then averaged to return a fifth number, that number is represented by the red and green dashed lines, the dashed line in the pivot area is simply the mid point between the two.


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I'll be the first to say it's a hell of a lot easier to identify these levels than it is to trade them. Of course IMO there's no better way than Old School price action trading to enter and exit at or near intraday support and resistance levels but I believe statistical analysis helps me operate within the "normal" twists and turns of the market. The chart below has three lines identifying "ranges." When I marked these levels while trading Sunday night Monday morning, they were just to "perfect" and the idea of this post came to me. Many readers will rightly conclude that Mr. Cashish is one weird number cruncher, but hey, it behooves me to leave no stone unturned while looking for the markets "normal" behaviors. After all, I'm looking for non-random movements in the market.

I keep ongoing calculations of several different price moves and their averages, here are three, these averages are over twenty periods. The yellow line on this chart shows a slight up trend, from it's low to it's high this move covered 33 ticks. This move is from the Globex open to 2am EST the 20 period average of this move is 32 ticks. The second line on this chart shows an up move of 20 ticks. The time period of this move is the one hour period from 2am to 3am EST the 20 period average of this move is 22 ticks. The third line shows a price move of 34 ticks, this is the point range this market moved between 2am and 6am EST. If readers want to know the average range, do the math. There's always more to this stuff but this was just a taste. Knowing these average ranges often allow me to enter trades around the previously discussed TR Numbers with confidence, all the while leaning on the averages to support my position or more importantly, signaling when things are "out of whack," and I should close out the position and look for the next opportunity.


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  #304 (permalink)
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There's no School like the Old School

Some Charts

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Today's Charts

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  #305 (permalink)
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this really should be rocket science,,,,

we need to complicate this, so that others will seek us out, and offer to pay us, and then we can teach the lessons,

first at half pace, then if you pay even more, then at three-quarters pace, and still keep the real lessons for ourselves....

(sic.... (whatever that means) humor)

oops,

did I let the cat, dog, mouse, elephant, zebra, and mouse-clicker out of the bag?

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  #306 (permalink)
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See post #192 and then #195 .

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  #307 (permalink)
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There's no School like the Old School

Today, so far



Mario sure shook things up yesterday, and put the chart out in the stratosphere! When confronted with big ranges I stick with the basics, whole numbers, TR Numbers and yesterday's High and Low. The range of the Asian Session held to the average and the EU Session found support at the Pivot Area. This is NFP day and if you've read through some of my posts you may have found that I also keep an average of the range prior to the report release. This average is from Globex open to 8am, the average range (for today) was 68 points. The top of the Pivot Area stopped the down move and offered a firm area for stop placement and a great entry to to test for both the EU daily range and the NFP range, close but, "just a bit outside."


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  #308 (permalink)
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There's no School like the Old School

Average






As always, the intention of this thread is to offer new ideas and fresh ways of thinking when trading.

These charts of late are just simple averages of price moves during different times of day. Astute traders may have had the notion of adding time lines to bracket these moves, if so they probably would have realized the first average is during the Asian Session, the second is the "early hour" of the EU session and the third is the London open ,,, pausing, just prior to any 6am EST News release.

Furthermore any trader worth his salt is sure to realize these average ranges usually align themselves with prior (or become) highs and lows. Some folks call them (highs and Lows) support or resistance or swing highs and lows.

I believe the market is "average," nothing really new,,,, ever. Same session hours, same traders, same news release times and same "games" over and over. The idea of these last few posts was to offer examples of how "average" the market can be. I believe this information (defined by averages) can be helpful in removing some,, if not a lot, of fear new traders often have about the market when just starting trading. IMO, knowing when something is "way out of whack" is often more beneficial to my trading than knowing everything is moving along as expected, moving along the "averages."

Anyone following this thread should know by now Volume Profile and VWAP are my main studies. I've left it to readers to plug these averages into their own method or system and see if they might light something up. There's no new rocket science here just simple common sense Old School number crunching. Of course I have more and I'm sure those who find value in this line of reasoning will come up with their own set of "dies" to evaluate the day's price activity.

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  #309 (permalink)
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Janos View Post
See post #192 and then #195 .


humor only, no offense,

I will admit, I keep coming back to this thread, because pound for pound, its more substantive than most of the other discussions combined!


that's not blue smoke, neither, guys!

keep up the good work...


no, actually, there's 2 direct benefits:

a) VanTharp and other trading coach books often talk about how much more we grow in our trading prowess or acuity when we keep a journal or share publically (qualified to other traders, that is)

that growth occurs in validation that we and others give to our hard earned efforts. usually a pat on the back, or a job well done comment from a teacher, mentor or superior would accomplish the same, but in trading, we are all peers

b) we gain like minded trading buddies which are worth their weight in GC!

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kronie View Post
humor only, no offense,


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kronie View Post
I will admit, I keep coming back to this thread, because pound for pound, its more substantive than most of the other discussions combined!

Thanks

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