E-Mini SP 500

This is a discussion on E-Mini SP 500 within the Futures & Options forums, part of the Markets category; I look at: 1) 60 minute trend 2) overall direction of MA's 3) MA's crosses and violations 4) whether price ...

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Old Sep 26, 2007, 5:39pm   #46
Joined Apr 2006
I look at:

1) 60 minute trend
2) overall direction of MA's
3) MA's crosses and violations
4) whether price is above or below open
5) whether price is above or below yesterdays high or low
6) whether price is above weekly high or low

OK

1. bullish
2. bullish
3,no major crosses on MAs
4. above
5. no
6. yes

Now how do I decode all this? Or what are the answers for a setup that is worth the risk.
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Old Sep 26, 2007, 5:42pm   #47
Joined Sep 2007
Xymox started this thread
Quote:
Originally Posted by saxon22 View Post
I look at:

1) 60 minute trend
2) overall direction of MA's
3) MA's crosses and violations
4) whether price is above or below open
5) whether price is above or below yesterdays high or low
6) whether price is above weekly high or low

OK

1. bullish
2. bullish
3,no major crosses on MAs
4. above
5. no
6. yes

Now how do I decode all this? Or what are the answers for a setup that is worth the risk.
I generally take this survey around 1:30 EST USA time. Plus there needs to be energy or momentum in the price for that session. If its a quiet day, it can be a mean reverting day and if its a volatile day, usually breakouts tend to take place. Today just seems like a quiet day. The MM's are working price up into upper zones before next weeks nonfarm payrolls. I think we will see Dow 14K before we start heading down again. Path of least resistance is still up.
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Old Sep 26, 2007, 5:45pm   #48
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What is your take on B. bands?
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Old Sep 26, 2007, 5:45pm   #49
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Xymox started this thread I anticipate 1 more sellside thrust down in bonds, it should push ES up over 1540 when it happens.
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Old Sep 26, 2007, 5:46pm   #50
Joined Sep 2007
Xymox started this thread
Quote:
Originally Posted by saxon22 View Post
What is your take on B. bands?
shrug...

1)price
2)price action
3)trendlines
4)channels
5)moving averages

I try to keep it simple. I don't use BB's.
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Old Sep 26, 2007, 5:56pm   #51
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I hear you, but do you think that they can be used to trade and make $$$?

I like them because of their simlicity.
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Old Sep 26, 2007, 6:16pm   #52
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Xymox started this thread
Quote:
Originally Posted by saxon22 View Post
I hear you, but do you think that they can be used to trade and make $$$?

I like them because of their simlicity.
MA's work, its similar to a hunter knowing when to use his Bow. MA's like anything are tools, traders misuse them.
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Old Sep 26, 2007, 6:33pm   #53
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How long did it take you to finally become profitable?


What do you know ES just touched 80MA on my chart.
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Old Sep 26, 2007, 6:37pm   #54
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Xymox started this thread bond action is not coming through. Indirect effects leading to MA cross. Durable goods plus crude oil, indicating slower demand. Bond market is having a hard time fading it.
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Old Sep 26, 2007, 6:39pm   #55
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Xymox started this thread
Quote:
Originally Posted by saxon22 View Post
How long did it take you to finally become profitable?


What do you know ES just touched 80MA on my chart.

5-7 years, started late 80's, was daytrading equities using FNN signal, even before daytrading term became common verbiage in trading realm.
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Old Sep 26, 2007, 6:42pm   #56
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Xymox started this thread sell short 36.50 TP EOD, SL 41 (4.5) TP should be 32.00
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Old Sep 26, 2007, 6:45pm   #57
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sell short 36.50 TP EOD, SL 41 (4.5) TP should be 32.00
32 hit.
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Old Sep 26, 2007, 6:48pm   #58
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Xymox started this thread unique pattern, rarely seen. MM's realized the underlying positional biases in retail, and goosed the market.
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Old Sep 26, 2007, 7:00pm   #59
 
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I've seen this somewhere before

...
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Old Sep 26, 2007, 7:01pm   #60
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unique pattern, rarely seen. MM's realized the underlying positional biases in retail, and goosed the market.
market is caught in 'deer in headlights' syndrome, its going to be raped now.
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