Trading the NQ

This is a discussion on Trading the NQ within the Trading Journals forums, part of the Reception category; ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Nov 8, 2017, 4:03pm   #185
 
Gring0's Avatar
Joined Aug 2015
Click the image to open in full size.
Attached Thumbnails
nq-hourly.png  
Gring0 is offline   Reply With Quote
Old Nov 8, 2017, 7:05pm   #186
 
dbphoenix's Avatar
Joined Aug 2003
dbphoenix started this thread Yes. You'll notice, however, if you read the chart left to right, that yesterday was one giant hinge, which helps to account for price being so contained today. I'll post a chart later, after the close.
__________________
Trading Price
dbphoenix is online now Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Nov 8, 2017, 9:23pm   #187
 
Gring0's Avatar
Joined Aug 2015
Quote:
Originally Posted by dbphoenix View Post
Yes. You'll notice, however, if you read the chart left to right, that yesterday was one giant hinge, which helps to account for price being so contained today. I'll post a chart later, after the close.
The hinge I saw had price get out and bounce around the apex. It's within the TR I have drawn on chart. Is that what you're talking about?
Gring0 is offline   Reply With Quote
Old Nov 8, 2017, 10:45pm   #188
 
dbphoenix's Avatar
Joined Aug 2003
dbphoenix started this thread
Quote:
Originally Posted by Gring0 View Post
The hinge I saw had price get out and bounce around the apex. It's within the TR I have drawn on chart. Is that what you're talking about?
There is no trading range, at least not at the time you've drawn your chart, since price never revisits the potential upper limit nor the potential lower limit. It rather makes a high and a low, then consolidates, which is where the hinge is formed. Price does eventually test the potential upper limit, but not until well after the open. The trade, however, is the bounce off the median of the hinge, at the open. If one is daytrading it, that is.
Attached Thumbnails
image10.png  
__________________
Trading Price
dbphoenix is online now Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Thanks! The following members like this post: Gring0
Old Nov 9, 2017, 3:24pm   #189
 
dbphoenix's Avatar
Joined Aug 2003
dbphoenix started this thread A word to the wise: the hinge discussed yesterday and the decisive break this morning of the stride that has propelled price over the last couple of weeks coupled with doubts among The Money that Trump won't be able to deliver on his tax cut promises suggest that better ops will be found on the short side than the long. The "line of least resistance", in other words, may no longer be up. Give the trees their due, but don't ignore the forest.
__________________
Trading Price
dbphoenix is online now Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Nov 9, 2017, 9:23pm   #190
 
dbphoenix's Avatar
Joined Aug 2003
dbphoenix started this thread FWIW, the weekly chart, according to the SLA:
Attached Thumbnails
wkly-nov-17.png  
__________________
Trading Price
dbphoenix is online now Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Nov 10, 2017, 12:36am   #191
 
dbphoenix's Avatar
Joined Aug 2003
dbphoenix started this thread An excellent review session, for those who've been studying this. Just about everything is here, in one chart:
Attached Thumbnails
image17.png  
__________________
Trading Price
dbphoenix is online now Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Thanks! The following members like this post: Kleft , chrisg , Gring0
Old Nov 11, 2017, 3:05pm   #192
 
dbphoenix's Avatar
Joined Aug 2003
dbphoenix started this thread Uber hinge. As I point out in my book, the longer price takes to break out of a hinge, the more likely it is that it will range, tightly, than stage a dramatic move one way or the other. This is due to the fact that, the closer price gets to a potential apex, the closer buyers and sellers are to an agreement on value. And the closer traders are to agreeing on value, the less likely price will depart from it, at least to an extent that presents an irresistible trading opportunity.

Markets are dynamic, of course, and in five minutes something may happen that prompts a dramatic change in the perception of value. But, barring that, the best course is simply to sit on one's hands and wait for that change.

(I'm posting an online chart because I'm too lazy to open up my program)
Attached Thumbnails
image2.png  
__________________
Trading Price
dbphoenix is online now Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)