Joey's MP Journal

This is a discussion on Joey's MP Journal within the Trading Journals forums, part of the Reception category; If consolidation occurs over several days, the standard price chart is going to pretty quickly get messy. The Auction Chart ...

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Old Apr 1, 2009, 11:45am   #241
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ES Auction Chart

Joey25 started this thread If consolidation occurs over several days, the standard price chart is going to pretty quickly get messy.

The Auction Chart plots the Daily Balance Areas, with overlapping areas plotted horizontally and non-overlapping trending areas plotted vertically.

Monday and Tuesday are plotted, and it can be seen that Value has contracted on Tuesday and is contained within Monday's Balance Area.

This chart should hopefully give a quick guide to Market Condition and will have more meaning over an extended time period.
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Old Apr 1, 2009, 10:25pm   #242
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Joey25 started this thread ES June 09

The last 1/3 of the postion was closed for a loss of 3.3 points.

The situation now is that Value has consolidated in a 3-day Balance Area.

Monday's range of 815.25 to 775.50 has contained both Tuesday and Wednesday, with Value forming a noticeable "bulge" in the Auction Chart.

Whether the range can be broken before Friday's NFP data, remains to be seen.
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esdaily.jpg   auctionchart.png  
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Old Apr 2, 2009, 11:37am   #243
Joined Mar 2005
ES Balance Breakout Trade (2nd April)

Joey25 started this thread Further to the previous post, I have been filled on the breakout of the 3-day Balance Area in the S&P.

Specifically:

Buy @ 816.00
Stop @ 809.10

2/3 of position targetted @ 826.40
1/3 of position "runner"

The target of 826.40 has just been hit for:

P/L = 2 units x 10.40 = 20.80 points.

Now I can relax and attempt to catch a trend with the remaining 1/3
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balancebreakout.jpg   ticket.jpg  
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Old Apr 2, 2009, 3:15pm   #244
 
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Good trade! (I tried rep you but again I need to spread it around first.)
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Old Apr 2, 2009, 10:25pm   #245
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ES Auction Chart

Joey25 started this thread I just wanted to update today's Auction Chart of Value, because it illustrates what I meant by plotting non-overlapping Balance Areas vertically.

Today has seen a migration of Value away from the previous 3-day Merge, therefore the area is plotted above the previous area. You can now imagine the previous 3-day area as a likely area of future support, should price fall.

However, at this point, once Value is non-overlapping, I will normally start the chart from scratch, because I am interested in when the market starts to come back into balance again (from the point of view of my remaining long).
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auctionchart.png  

Last edited by Joey25; Apr 2, 2009 at 10:32pm.
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Old Apr 3, 2009, 10:18pm   #246
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ES Update

Joey25 started this thread I was watching Dickinson's Real Deal during the excitement of NFP today - I had my plan and didn't want to be influenced away from it.

Friday's Low of 822.75 is confluent with Thursday's mean of 823.25, and it is below this level at 822.00 that I will be trailing the stop to.

Even though Value does overlap on Thursday and Friday, there is still evidence of an upward bias given the inability of Friday's action to test the lows of the Balance Area from the previous day.

A couple of charts today:

(i) Chart 1 shows the fall after the data was released, a test of the previous day's Mean, and then a rally.

(ii) Chart 2 is the Auction Chart for Thursday and Friday. Today their Means have been highlighted.
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testandrally.jpg   auctionchart.png  
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Old Apr 6, 2009, 5:32pm   #247
Joined Mar 2005
Joey25 started this thread I have been stopped out on the remainder of the ES position for a +6.00 profit.
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Old Apr 6, 2009, 7:08pm   #248
 
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6x50x100=:-)
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Old Apr 6, 2009, 7:30pm   #249
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Quote:
Originally Posted by rathcoole_exile View Post
6x50x100=:-)
I see you got a mention here today, Garry

http://www.trade2win.com/boards/trad...journey-2.html

He's not giving all your secrets away is he?
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Old Apr 6, 2009, 10:23pm   #250
Joined Mar 2005
ES Strategy

Joey25 started this thread The market has just settled bang in the middle of a well-defined range.

The new strategy is:

One Cancels Other:

(i) Buy @ 848.70
Stop @ 841.70
2/3 Tgt @ 859.20
1/3 Runner

(ii) Sell @ 818.00
Stop @ 825.00
2/3 Tgt @ 807.50
1/3 Runner
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Last edited by Joey25; Apr 6, 2009 at 10:34pm.
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