ES tonight

[rathcoole_exile]

not that the VAH/L triggers were much cop for Sunday's session.

But I must admit, Monday is my least favourite day for trading this method, I just don't know how reliable the data from Friday is for Monday when there's been a limited session on Sunday ?
I just can't seem to get a handle on whether to ignore Sunday's activity, or to re-calculate the triggers with Sunday data, or whatever else ...... any suggestions ?

 

[rathcoole_exile]

one additional comment about taking contradictory trades - although I've pretty much ceased trying to trade FTP vs Cam vs DeM in opposite directions, I do still take weekly trades that contradict the daily trade - i just use a different account, target/stop criteia etc

 

[rathcoole_exile]

So of the three prices (Cam, PP, DeM) for eash level (R1, R2), it's just discretion- take the average, pick the one that has most technical significance, something like that?

i typically use Cam as my entries, but then I may use FTP or Dem either as Targets or even to add to my position, depending on momentum etc

for instance the weekly Cam triggers for w/c Mon 8th are:
963.25
951.75

929.25
917.75

the weekly DeM triggers are:
969.5

928.5


so on the Long side, a BreakOutLong from 963.25, I'll be cautious when price gets near 969.5 and will tighten my stops, fearing the end of the move.
BUT if price does push up through 969.5, I'll maybe add cars 'cos now there's no ceiling to how high price could go
(well, ok, FTP R2 at 979 seems the next level)

On the Short side, I'm going to me more cautious about trading the BreakDownShort from 917.75 since that is already way past the supposed lower boundary that the DeM indicates at 928.5
BUT this might make me more Bullish about the ReversalLong from 929.25, knowing we'd hit the DeM "bottom" at 928.5
(which also coincides with M-, the ReversalLong trigger on FTPs)

 

[MrGecko]

I'm with you now... thanks for the excellent response!

 

[Trader333]

Garry,

I have tried to find the formula for calculating De-Mark pivots but have not been able to. Do you know what they are ?


Paul

 

[MrGecko]

DeMark Pivot Points

Cannot comment on the accuracy of ths article.

 

[oiltanker]

i think anything based on the high low close is going to be significant.

 

[oiltanker]

as for fx pivots gmt +3 works for me although mataf reckons gmt +2

 

[rathcoole_exile]

Garry,

I have tried to find the formula for calculating De-Mark pivots but have not been able to. Do you know what they are ?


Paul

Hi Paul,

The formula used in the calculation of the Tom DeMark "Pivot Points" are:

The value of X in the formula below depends on where the Close of the market is.

If Close < Open then X = (H + (L * 2) + C)
If Close > Open then X = ((H * 2) + L + C)
If Close = Open then X = (H + L + (C * 2))

R1 = X / 2 - L
PP = X / 4 (this is not an official DeMark number but merely a reference point based on the calculation of X)
S1 = X / 2 - H
Where R1 is the upper Resistance level, PP is the Pivot Point, S1 is the lower support level.

good luck, hope this helps ?

 

[Trader333]

You are a better man than me MrGecko, I did look on MyPivots but obviously not well enough. Thanks for this I do appreciate it

Garry, I have just seen your post and many Thanks as well


Paul

 

[rathcoole_exile]

pete, did you try the pit audio commentary ?

 

[pedro01]

pete, did you try the pit audio commentary ?

You watching me lurking ?

I didn't sign up for my freebie trial yet - I have been given the pleasure of taking over the regional HQ at work - good for me - not so good for them and that is eating into my time somewhat. In fact, this week is a total trading week off for me as I got frazzled trying to juggle the 2 & now every chart I look at says "Suy and Bell"... not a good sign.

 

[rathcoole_exile]

"Suy and Bell"

they work in Rainbow 4 don't they ? do the lesbo show ?

 

[rathcoole_exile]

today's (Camarilla) figures are:
954
947

934
927

well the 927 level held very well the first time it was touched.
looking for a second bite opportunity to breakdown ......

 

[MrGecko]

FWIW anyone can try this style on the sim from thinkorswim.com with the thinkscript for camarilla pivots from the link below...

ThinkScripter Blog Archive Camarilla Pivots

 

[combotrader]

as for fx pivots gmt +3 works for me although mataf reckons gmt +2

Hi tanker

Could you please clarify what you mean by gmt+3, and why its necessary ?
Ta
CT

 

[oiltanker]

gmt 3 is what IG have.

fx is 24 hour market so the problem is what do you use as the 'close'. in theory you can have 24 different pivots in a day. so you need to choose. which hour to choose? well you want the one the big money uses.

see mataf pivot calc

Forex Pivot points - Mataf.net

mataf talks about +2 on his site board somewhere.

 

[HaloTrader]

Sorry to interupt, Rathcoole how do you hedge your self against currency risk when you trade the E-mini S&P500 - Will be moving to that market very soon so that finishing my business plan and its an important part i've yet to figure out

 

[HaloTrader]

Incase anyone was wondering how to hedge currency this is what i've decided to do... On my brokerage platform i've changed £10,000 into dollars, and done the equivalent opposing trade using leverage on a spreadbetting account with no stop loss.

x

 

[combotrader]

gmt 3 is what IG have.

fx is 24 hour market so the problem is what do you use as the 'close'. in theory you can have 24 different pivots in a day. so you need to choose. which hour to choose? well you want the one the big money uses.

see mataf pivot calc

Forex Pivot points - Mataf.net

mataf talks about +2 on his site board somewhere.

Altho its a 24hr market, the new york close is taken as the end of session in the cash market. if you have DMA, you`ll see the prices dissappear from your screen at 22.00 london time. thats the switchover before the asian session starts.
slightly different for futures of course - better to trade them really.
CT