ES tonight

[rathcoole_exile]

weds 27:
927.75
918.0

899.5
889.75

price is currently around 908.
the suggestion behind my trading pattern is to do nothing until price has moved away from this consolidation/quiet zone, into one of the two KillZones described above.
Once in a KillZone, the suggestion is that price should cease to consolidate and will move (hopefully aggressively and decisively) with conviction out of the KillZone,
(in either direction - since we can't know or predict direction ahead of time, this is why Stop Entry orders are placed when price is in a Zone, to catch any price movement beyond each trigger point)

 

[rathcoole_exile]

btw, triggers for pre-market on weds 27 are:
915.25
911.75

905.75
902.25

both the reversal triggers, 911.75 and 905.75 earlier came within a hair's breadth of being triggered but both weren't quite hit.
so no action so far but still another 4 hours to go before switching over to the main RTH triggers above

 

[MrGecko]

I cant seem to download it from the CBOT website.
CT.

try this

E-mini S&P 500

 

[rawrschach]

Great ORB day again

 

[rathcoole_exile]

yep, a beauty.
funny enough I'm just compiling a response to a guy who PM'd me for tips on trading and I've just advised him to check out the ORB technique. So nice example today

 

[rathcoole_exile]

for thurs 28/5

905.5
898.75

886.25
879.5

 

[candles]

Great thread R_E

 

[MrGecko]

Is there anywhere in this thread where you say how you calculate your pivots?

 

[golfer_401]

Is there anywhere in this thread where you say how you calculate your pivots?

Mr. Gecko,

Check my post #322 on page 41 of the thread. The points that are habitually posted are for the CAMs... in having read R_E's thread since the beginning, there are also the regular floor trader pivots and DeMark pivots that can be considered/combined with the CAMs.

Regards,

Ivor

 

[MrGecko]

Mr. Gecko,

there are also the regular floor trader pivots and DeMark pivots that can be considered/combined with the CAMs.

Thanks Ivor - I had seen your post, but at the beginning of the thread there were multiple levels being quoted - CAM (which/who I have never heard of), DeMark (which I have heard of but not in the form of pivots) and regular floor pivots, which I had heard about but never used.

What is confusing me here is which set to choose - intuitivley, the floor pivots have the most appeal because I can easily imagine they are the most popular / used by the most traders (and therefore become something of a self fulfilling prophecy)... the other pivots just seem to be a bit, well, random.

R_E do you have any preferences? do you just figure out all the levels and go with your gut at each level?

NB: Just to confirm, the levels are for the past 5 days, yeah? so the high of the last 5 days, etc... what about the weeklies, do you go back 5 weeks too?

TBH I was always scepticle that anything like pivots would work because they just seem arbitrary (i.e. do a sum and trade the level), but they seem to be doing alright here...

mucho graçias !!

 

[rawrschach]

I think CAM is Camarilla.

If you go here and click on the names of the different picots it shows the formulae.

E-mini S&P500 June 2009

 

[Trader333]

What is confusing me here is which set to choose

All three are used, ie Floor, DeMark and Camarilla.


Paul

 

[MrGecko]

All three are used, ie Floor, DeMark and Camarilla.


Paul

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?

 

[combotrader]

Mr Gecko

Thanks for the link for Volume analysis at the CME. Will look thru it for some stuff on Marketprofile - i understand the basics, but need a more working knowledge.

I know you have a fx background (?spot/options) but dont know if you know that pivots work very well with spot fx as well. I would imagine they work just as well with the CME fx futures - if some are pit traded then all the more reason for the FTP`s to work on them. I have tried daily and weekly pivots only - along with their mid points. Just FTP.

Have a look at the the right edge of the chart - how price just bounces between PP and S1. This is daily pivot - and its a daily occurence as well, for price to react at these levels. They line up well with S/R.

RE uses a system of R3/4 and S3/4 to identify extremes of price movements and he uses all 3 - cam/ftp/demark. I think he uses all 3 because some institutional traders do as well. This is what I understand - I might be completely wrong !!

However for my purposes - the daily FTP work great on 1hr and 15min charts. Had not thought they would so well.
CT.

 

[Trader333]

However for my purposes - the daily FTP work great on 1hr and 15min charts. Had not thought they would so well.

They should work on almost any time frame as the pivots are not intra-day time frame dependent although I have not tested this so maybe I will.


Paul

 

[rathcoole_exile]

sorry guys, not intentionally ignoring youse all.
am just back from travelling again.

I'll write more about my take on Cams etc later today or tomorrow after I've caught up on a few things at home....

garry

 

[rathcoole_exile]

Mr. Gecko,

Check my post #322 on page 41 of the thread. The points that are habitually posted are for the CAMs... in having read R_E's thread since the beginning, there are also the regular floor trader pivots and DeMark pivots that can be considered/combined with the CAMs.

Regards,

Ivor

and I do still bear in mind all 3 variations, (plus a 4th, which was my own weighting of an average of all 3)
but found it was getting too complicated to trade let alone keep posting updates, so i settled on just using the Cams .

One useful way of using the various types in combination is if, say FTP R2 is higher than the CAM R4 breakout, I'll use the Cam as the trigger and the FTP as an early T1

 

[rathcoole_exile]

What is confusing me here is which set to choose - intuitivley, the floor pivots have the most appeal because I can easily imagine they are the most popular
R_E do you have any preferences? /QUOTE]

to be honest, i floundered around at the start, precisely due to that same confusion - one day FTPs would work best and I'd think "eureka !", but the next DeMs would call a turn to the very penny and I'd think "aha, that's it".

I've just learned to accept that some days, some levels hold better than others.
So to simplify things, I typically use the Cams as my triggers nowadays although I always like to keep the others in mind as reference points, potential targets and potential stumbling blocks.

When I first came across Cams years ago, I dismissed them out of hand as just another gimmick or set of random numbers.
But several months later I read that large institutional banks use Cams not FTP in their large interbank FX dealing - (perhaps one of the FX pros can confirm or deny this ?)
Anyway, this lead me to re-examine Cams.

That lead me to learn about DeMark's pivots and how the 2 daily figures are supposed to predict the "boundary" of the following days action - which lead me to think, well what happens if that boundary is breached, surely then we have a substantial basis for a breakout/down ?

That lead me into the whole vortex of confusion comparing FTPs, Cams & DeM to see which one is "better".

At one stage I has numerous charts up and would sometimes be trading Long the FTP signal while simultaneously going Short the Cam etc - far too much like hard work !!

Finally I came to the conclusion that none of the 3 types is "better" than the others.

Looking at my arguments elsewhere on T2W that one could simply draw a horizontal line at random but still trade successfully as long as one had a sensible Plan, I drew the conclusion that rather than continuously fight and struggle the 3 set-ups, the best course of action may be to opt for one and accept that I'll maybe miss winners elsewhere and maybe have additional losers.
But as long as the Plan remains solid - ie I know what I'm going to do whenever price hits a certain trigger, i really don't think it matters all that much which set of figures you use.

 

[rathcoole_exile]

today's (Camarilla) figures are:
954
947

934
927

 

[rathcoole_exile]

and just to muddy the waters even more, as I've previoulsy mentioned, I sometimes trade pre-market using a tighter range, generated by using the VAH and VAL as the High and Low instead.
So for today, Monday 8th, pre-market triggers are:
944.5
942.25

938.75
936.5