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bobs qwest to attain consistency
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bobs qwest to attain consistency

  #441 (permalink)
Market Wizard
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Hi Bob,

The information displayed on the volume ladder shouldn't be a reason for an entry. It should be used as a tool for confirmation of an entry based on a predetermined area. So hypothetically, let's say that tomorrow if the market opens slightly gap up, you're going to take an initiative position short should price hit today's VAH with the thought of taking out today's VPOC and testing today's VAL. You would wait for price to get to your area of interest and watch to see if volume presents itself. Upon confirmation of that, you would join the offer as close to your price level as possible and go from there.

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Don't just take a responsive position based on volume churn at an insignificant area as it will most likely be a false signal. Hope that helps.

Thanks Ben, i will continue to observe this.My tendency is to focus with tunnel vision,and miss the overall big picture.I was hung up on that 104,20 area yesterday, and it did try to hold.Once that broke, forget about it.

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  #442 (permalink)
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cory View Post
I don't think 'I won't make chart change' is the same as keeping something that doesn't speak to you. A single S/R line that makes you pay attention is more valuable than a heap of blinking lights that tell you nothing.

thanks Cory.The reason i mentioned that , is because i believe this combination of charts is good.I just need to focus on the forest more , and not the leaves............................
Also, with the developing mp levels(vpoc,val/vah), i am starting to see a correlation that i like very much,and it is always a trend trade.

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  #443 (permalink)
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5/4/2012
friday
1 trade.
both targets hit.This is an example of a trade that i have been noticing.There was another,that i will be observing,the pb to the desc dvwap that is marked entry.And ,of course, i will keep observing the prev days mp levels,and look for the entries on the
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  #444 (permalink)
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5/7/2012
4 trades
today was good,3/4
1st trade failed, which i took at a flat vwap, but the correct entry was just above at prev day lod.I have to realize, that , if there is a pivot close to the vwap, be patient, especially when the vwap is flat.Today i noticed that, when the vma is sloping, it can be very useful when it is backed up by other pivots(for ex,val,vah,vwap, etc)it was overlapped a few times today.It reminds me of days in the past, when, the 21 ema would be great on tuesday, and i would use it on wed, and get beat up.All in context.Its just one of the many things ill be observing...................

chart later


Last edited by bobarian; May 7th, 2012 at 09:17 PM.
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  #445 (permalink)
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5/8/2012
gapped down on the open again today, and pa penetrated yest val, and that was it.What i saw ,was the overall context was changing.The vma came down, and at the dow open, i could see the cl struggling .Yest lod was just below, and it looked like would get there,some how.One last push higher, to the overlapping res of the desc vma, yest val,and todays dvah.Pa fell nicely from there,and penetrated yest lod.A retrace to the current IB low was a nice add.Just above that was a desc vma and dvwap.Pa really dropped from there.We had a significant bounce once we bottomed, and closed near the highs of the session.
Lately, i have been finding it difficult to even review the day, as my kids require my full attention.We will keep trying though!
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5 8 2012 recap.mp4 (43.48 MB, 7 views)
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  #446 (permalink)
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5/9/2012
wed
we had a huge gap down, and i was basically looking for price to retrace to yest val, and see about a short.This indeed happened.Pa then fell to just above yest lod, and we found ourselves back to yest val, with the desc vma for the overlap res.That short worked out well also.After revisiting the lower area we had, pa revisited the desc vma, and fell from there.I passed on this, as i assumed we would be in this tight range until the inventory.Wrong.Pa fell to just above 95 at the news, and then shot up to yest vpoc.A nice short that was.We did retrace to yest val, which had multiple overlaps.I fat fingered the entry...oh well.All in all so far, a good day..................Pa ripped higher to a previous chop/absroption area,and was met with huge churn.The short was there to take, and i passed...no pivots(except what i mentioned).That was a nice one at the 96.70 area.Pa fell from there, and grinded its way down to the 96 area, which was res and support area today,as well as yest val.I got in at .95 long.I really dont like going against these types of grinds.............Im still noticing the value of the vma.When pa crosses it, and it begins to slope , it can become a sup(with HL/HH) or res(with LL/LH).Just something to watch.

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5 9 2012 recap.mp4 (65.46 MB, 6 views)

Last edited by bobarian; May 9th, 2012 at 06:59 PM.
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  #447 (permalink)
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5/10/2010
market gapped up today above tues and wed highs.We had Bernanke speak,and the cl had been very rangy so far.If the last few sessions are an indication, i could see a push higher.The 96.95 area has seen some big absorption.We are currently hovering around the IB low, which is the dvpoc .There were a few opportunities , i believe.Now that we broke higher, its a little tricky to see which areas will be respectedfrom early this week and last week.Just the fact, that we have spent most of the day above yest high, i think also is a clue for the eventual push higher..........................Ok,no trades today.The theme ,i believe, is that IB low area, which support,then res,then support again.In retrospect, the long entry was in the mass churn area.(i believe.The flat mas were bothereing me.I was waiting for it to break higher, and it just didnt set up like i wanted.Oh well.As of now, pa just doesnt want to break above the dvah.I guess todays small range is not a surprise, as it may be trying to djust to the sudden change in altitude.There is still 30 minutes left tho, for the end of day jam.Chart later.didnt realize ,the hod today was last weeks low.I will mark these levels out now

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5 10 2012 recap.mp4 (126.96 MB, 6 views)

Last edited by bobarian; May 10th, 2012 at 09:25 PM.
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  #448 (permalink)
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5/11/2012
friday
gapped way down, almost to wed val.I thought if we got to wed vpoc at 96, we would look for a short.This was a high churn area on wed.I took the short,a little early though.The bigger churn was just above at 96.05.I need to be more patient with that.Especially just off the open.I dont want to get chopped out.Both targets hit.Dow about to open.Took a 2nd short at the vah, at a reasonable churn area.Entry was at 96.00.Pa made a new hod(overshot)and gave a bigger churn.This ive been noticing quite a bit this week.I took the sl on that(just at the top).Ok,that failed anyway.Pa found support at the dvwap, and blasted through the desc vma and overshot yst lod,with some big churn.I got a very good fill short, and was able to get my 1st target, before i stopped out on the 2nd.No problem, a break even trade.........................................................................................................................................
So, as i am not seeing the
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just looking back,at the chart.The obvious.....(but not to me today) was ,we were making HLs and HHs up to that 96 area, which we overshot.I was too fixated on the 96 level.Classic example of looking at the leaves,not the forrest.The dvwap gave it up too.The easier ticks come when we go with the flow.Even a long at that 2nd dvwap was acceptable,there was plenty of room to the vma.But besides that,for get about the lines....we were overshooting that 96 level(wed vpoc) making HHs.So close, but yet so far!!Focus more on what the pa is giving us, and less on the destination that we are thinking about.Even if the 96 level held, and we dropped, i think the pa was clearly telling us that it wanted to go higher.Trade in the moment..what we see

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Last edited by bobarian; May 11th, 2012 at 01:16 PM.
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  #449 (permalink)
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5/14 2012
monday
pa in cl gapped down over 200 ticks.The 1st opportunity was just after 10 am, pa came up to the dvpoc, and gave a nice churn.I was tempted, but after last week, i wasnted pa to overshoot this area just a bit higher, into the low vol area of todays mp.This didnt happen, and we are still in todays initial range at 10:15.Pa finally came back to this area, and the churn was good.I got short at 94.23, and thought it was a good entry.We also had the desc vma,and dvah,as well as a desc trendline.It wasnt enough though, and failed.Pa shot up to the hod,and gave a good churn here.This time,we are at the the extreme of the days upper range.Hmmm.60 tick range so far today...............Ok,we finally broke out of todays initial range, and the 1st pb came down to the asc vma.This i will be observing(breakouts of day range)An observation i could make,is that because this market is so slow today, it didnt have the juice to take that break, and find support at the ib high.It needed to pb to the vma.We got some massive churn at the 94.65 level, and the ib upper1 just above at94.79.It feels tho, like it is basing for a move up.Also,earlier,the 1st retrace to the desc vma worked, but i had my sell order a little higher, looking for the overshoot(that never happened).The 2nd retrace tp the vma failed.....................................................The browser will not allow me to make paragraphs, so bear with me!.Slowly, the vma is asc up to the ib high, which is also the dvah.This might be a good entry area,if we retrace.....Well, we really churned up there in the 94.65 area,and pa is coming down to that area i mentioned.I feel that the amount of churn just above was too much to ignore.This feels liike deja vu with this massive absorption here....................the good thing,is i passed on that long that i was considering earlier if pa came back to the ib high/dvah/vma.But, i didnt take the short up in the 94.70 area.This was at the hod area,so at the extreme of the mp for today.That might have been the best trade of the day....hmm.Abig reject area...................................Its a big conflict for me...Try to stick with a percieved trend vs trying to pick a top/bottom /counter trend trade.My hunch is the vol churn was the deciding factor...............................Pa fell to the just above the ib mid, and ramped up to hod area.Last weeks low is arouund the 95.20 area...............................................................After looking at the review , the short i took was just not a great trade.The magenta long is a better trade, just from the standpoint of no conflict with the dvwap.The other trade,i believe , was the short at the absorption in the 94.70 area.Atricky day for sure.

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5 14 2012 recap.mp4 (38.83 MB, 11 views)

Last edited by bobarian; May 14th, 2012 at 06:30 PM.
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[ATTACH]
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[/ATTACH]5/15/2012
tuesday
gapped up about 20 ticks, from yest
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................Just took a long at 94.40,pa came back down to yest vpoc,which is a big overshoot of the bullish bottom TL on the rth 5min.Sl at 94.20.@Simple targets of 10 and 20 ticks.Also,IB low is just below.The churn is pretty big here.The 1st target hit, and i moved my sl to just under the low,which got hit.Lately,it seems that the cl is moving closely with the ym...that can be annoying...Luckily , i got the 1st target,so a be here.Price did churn again at yest val, but now we are under that bullishTL onthe 5min....


Last edited by bobarian; May 15th, 2012 at 12:35 PM.
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