Emini Russell Open Trading

 

Open Price Action Area Trading

7-27-07 open:  what were your open paa prices?  did you have an open paa price sell - IF yes where?  did you have an open paa price buy - IF yes where?  what-where were your open trades?

open paa prices:  791.20 - 790.00-789.70 | 789.00 - 788.40-787.80 | 786.90 - 785.90

yellow circle - red dot:  i would have liked an open sell at the 791.20 BUT didn't react to a pause-break there AND then there was no retrace for a break2 OR shift-reject first continuation.  as well there was nothing i could do at 790.00 BUT chase the line break AND also nothing setup using the 789.70 paa price EVEN after the 790.00 spike bar reject.  you might simply short 789.70 that quickly BUT where is the setup AND how do you react real time?  still flat.

that purple line = 789.10 AND all i did was place it at a bar low-it's synched with the 789.00 paa - AND then after the shift-reject of the 790.00 price - i went short -789.10|.20f as the best i could for a sell after the yellow circle WITH nothing done or then occurring in that area AND also nothing that i could see to do at the 789.70 price. 

IF flat AND the best open sell setup that became available - is blue dot1 AND the 790.00 double reject-789.00 failure through the line AND into-through the 2 previous break WITH good mex flow down on your 120t -vs- the fast chart lag while consolidating before the break.  damn good thing this setup worked because without it - i have p1 at 788.20 AND nothing else - on the break through 787.80-tick miss test of 786.90 at 787.00 - i got p2 = 787.20.

green dot - blue dot2:  on the test-reject of the 786.90 - i am watching for price action around the blue line 788.60 centerline.  1 test-reject of the line BUT to a higher low which also test-holds the 787.80 paa price AND with this - i decided to do the centerline break = +788.60|.70f.  IF flat i would buy blue dot2 as a shift-reject of the centerline WITH mex flow up AND as a failure-break of the 789.00 paa price WITH room to 790.00 target resistance. this is a base first continuation setup.

 

open2:  after the 791.90 high - what-where was the first paa price setup-trigger AND IF that trade wasn't done - what-where was the first continuation setup?  what-where were your trades during this period?

red dot1 - blue dot:  to get a paa setup here i [you] had to sell the 791.20 price reject as a small ledge break WITH mex flow down-ttmf hook [in contrast to those extended consolidation ledges 'chopping' around a centerline] = -790.60f reverse of the open buy. 

IF flat the blue dot is a chart structure setup AND a paa price failure-break combination.  789.70 is the paa price AND the chart structure is the blue line-yellow square double reject - paa price break WHEN it is traded as a break through the 2 yellow squares as a triple break - i like this setup as described WHICH IS NOT as another ledge breakout of of the reject of the blue line.

red dot2 addon:  after the blue dot break - there is then a shift-reject of the yellow square-yellow line AND another small ledge break - which can be sold as a triple break of the 2 purple squares - as test-break setup of the 788.40 line while failing to turn 789.00 into support AND breaking back above the yellow line = -788.60f.  IF you were synching with your 120t chart - you see these ledges as fast chart pauses AND with good 120t mex flow.

 

7-26-07 open:  tremendous overnight down movement AND not only were we below yesterday's low - we were breaking into prices not seen since last march.  were paa prices still relevant-viable for open trading - what paa prices did you establish AND were they related to your open trades - what-where were your trades?

paa prices:  802.80 established from the overnight chart | 801.60-801.30 - 800.60 | 799.90 - 799.30 | 799.00-798.30 - 797.70 --- gave us a support range to view from an overnight sup:res line - down to 797.70 3-19 low.

yellow dot - green dot:  although the 799.80 gave a double hold-reject of the 799.90 price - i couldn't do the 800.60 line break out at the yellow dot - still trailing what had been done as an 812.00 overnight sell BUT regardless i couldn't have gone long at this point.  after the 800.60 break we moved to the 801.30 price AND on the pause-break i decided to reverse out = +801.30f into-through 801.60 AND to the 802.80 which held to the tick = -802.70f 2x partial.

IF flat i would have tried the blue dot as first continuation as a shift-reject of the 801.30-801.60 - a trade that can still partial on another test-hit of the 802.80.  the price would be 801.80|.90f [probably] - for additional synch of this price look at your overnight chart AND the channel reject at 8:25ct.

red dot1 - red dot2:  IF there is a time to do an initial reverse as an entry - it would be in a STRONG directional market rejecting support-resistance.  802.80 test-pmd high AND i probably should have been more aggressive and gone short on the 802.20 break BUT did the trade -801.70f.

NOW what if you don't like an initial reverse OR you are looking at the price-paa price cluster 801.80-801.60-801.30 AND want to see the reaction instead of entering?  again i accepted this basis direction BUT in another situation i would have had those kinds of issues entering on an initial. 

red dot2 on the 52t chart should be clear IF this was your specific reason for waiting because there was a double hold-reject of the area BUT you hesitate again regardless on the initial resumption.  BUT this is not simply an initial resumption - this is a failure break of the 800.60 paa price WITH the resistance reject AND IF you are doing your 120t synch - you additionally see the break WITH mex flow-ttmf hook.  VERY base setup = addon done -800.60|.50f - AND with the breakout of all the left lows WHICH include the breakout of the 799.90 into the 799.30 which broke with it to test the 799.00-798.30 area - the partial = 798.70 p2 on an 798.50 hit.

ps.  paa price setups-trading was very viable AND WHY shouldn't it be?

 

7-24-07 open:  where were your open paa prices?  consider the blue line as a centerline - are there any trade setups through that line - did you have any setup to enter the buy swing?  consider the pmd high that clearly led to a profitable sell - is there a pmd swing-reverse setup to enter with - did you have any setup to enter the sell swing?

paa prices: 829.70-829.20 - 828.40 | 827.50 - 826.70-826.40

blue dot1 - green dot:  i discussed an overnight sell setup done = 7:15ct -834.50 - so short at the open AND held on a to the tick hold-reject of the 830.10 paa price given.  i never considered doing anything on the first break of the blue line AND IF anyone was flat - you also had no setup to consider on the break back down through the blue line.

i did consider buying the blue dot as a shift-reject of the 827.50 centerline break into the range highs above the centerline BUT at this point was still most interested in holding my open short - there is also no mex flow on retrace into the trade to make it a base centerline trade - nothing done. 

after the line break there was a shift-reject to support AND note the paa price involved at 828.40 - this was hit on the first break through the blue line AND on the blue dot-2nd break of the line - so this centerline shift-reject also has a failure-break setup at the paa price = +828.40|.50f.  this setup is base as a consolidation setup = pivot shift-triple range break WITH mex flow up on the retrace-shift - this is additionally base by it also being a paa price failure as part of the setup --- 829.50 2x partial on the breakout.

pmd high - yellow circle:  not only was this a pmd high - it was a paa price pmd high AND the initial reverse was at the paa price paired with it = 829.70-829.20 BUT i had no setup other than just reversing out short on the initial - i have tried this type of price trade before BUT in this case i was also looking at the purple line as support to hold the buy. 

right chart yellow dot:  IF we had a situation like this where there was an 829.20 break2 WITH mex flow down - i would have shorted the yellow dot AND considered that this was also into-through the 2 purple squares as a failure-break setup of the purple line.

red dot - dark blue dot-blue dot:  the red dot sell tried was a pause-break of the purple line AND being able to focus on the 829.20 price for initial risk.  are price pause-breaks base as first continuation setups - yes as a price setup IF it is viewed like that -vs- a breakout chase AND with mex flow-directional strength makes this all the more viable WHEN the typical base method first continuation setup doesn't occur - again i am referring back to the traderead9-10 seminar.

in this same capacity you have a setup to try at the dark blue dot 828.40 price AND at the blue dot on the blue centerline taken to the right as a shift-reject - all STILL with mex flow AND directional strength.  at this point in time i may try a buy AND did - BUT i have to try the sell - again this is direction speaking.

 

7-20-07 open:  where was your open centerline - was it a paa price?  IF you did an open centerline trade - what was your first paa price target?  after the high - did you go short AND what was the setup - was it base?  what-where was your next trade to the right of this chart AND was that setup base?

open paa prices:  853.90-854.50 - 855.10 | 855.90 fp 856.20 - synch with open centerline 853.90 | look at your 240t chart 853.90 = yesterday low - 854.50 9:56ct initial low - 855.10 13:14ct higher low retest of 854.50 - 856.20 = closing triple bottom break.

green dot:  +853.90f - paa targets = 854.50 as a 'stall area' = channel traded into AND paa price - 855.10 paa target.  the 'stall area'-paa target pause BUT no reject to the floor pivot-856.20 paa price - 856.60 high = -856.00 2x partial.

red dot1 - yellow dot1-blue dot1:  the floor pivot can't hold as support AND breaks to the 855.10 price AND the holds under the floorpivot WITH mex flow down - into the indicator reverse = -855.10|855.00f initial reverse AND this setup as described is an initial setup that is base.

IF flat and you sell the yellow dot as a first continuation - yes it's a reject of the 855.10 AN still with mex flow BUT you can't do this trade without understanding-accepting the location of the 854.00 channel-853.90 paa price holding-rejecting.  the base setup that exists here is the blue dot AFTER the 853.90 test-reject THEN 855.10 test-reject - sell the 854.50 break2 WITH the mex rollback AND into-through the failure-break setup of the 853.90 - this was a very clear usage of paa price setup trading.

red dot2 addon:  853.90 shift-reject STILL with the mex flow from the blue dot rollback WITH room to s1 AND then the overnight low 852.40 WHICH was an 852.50-852.40 overnight double bottom so IF through it's a triple bottom break WITH direction. 

yellow dot2 - red dot3 addon:  there is nothing to do at the yellow dot as a counter channel break against the 120t mode AND right into s1 resistance - no exit of the trailing initial sell OR trailing addon.  s1 rejected AND the overnight low broke BUT i don't like this for an addon as an initial reverse - then after the hold-reject of the channel-2 blue squares THEN there is a very good addon that occurred as a break2 WITH mex flow of the blue line AND into-through the 2 blue squares as a triple break WITH what has become clear directional strength.

AND did you remember the 851.80 7-16 low AND the previous paa price action there - this addon is also done as a failure-break of this price - this was all a good breakdown setup-situation to do a second addon at this time.

 

7-18-07 open:  where are your open paa prices AND were there any related trades - what-where were your open trades?

open paa prices:  849.20 overnight low - 849.00-848.30 - 847.80

red dot:  after the cpi AND with directional strength - i shorted the s2 break at 7:32ct - the setup uses this as a centerline AND is done as a base break2 WITH mex flow = -850.80|.60f +849.50 p1 +849.50 reduce on the hold-reject of the 849.20 low.  the red dot sell was a retest-reject of the 849.20-849.00 = -848.80|.70f +847.80 2x add partial at the paa price on the 847.70 hit +848.30 addx - trail initial.

green dot:  847.80 paa price start point - 848.30 paa price shift-reject WITH mex flow = +848.50f into-through the breakout potential of the diagonal - this is a base setup.

IF flat i would have trouble trying to trade first continuation inside the rectangle AND the multiple resistance prices being tested here at the blue line 849.40 reject high AND the 849.20-849.00.  the first continuation setup that occurred that i would try is the blue dot as an 849.20 reject as a 52t pmd-failure WITH 120t mex flow - the pmd occurring as an inverted diagonal breakout setup of the resistance prices in the area.

 

7-16-07 open:  where was your open centerline - did you have any centerline related trades - what-where your open trades?

centerline:  858.60 - established from trading pre-open AND adjusted from the 858.30 paa price that was going to be using.

red dot1:  open move to test the 858.30-hit 858.20 and bounced - sold the red dot -858.30|.50f WHEN the centerline broke into the 2 breaks below 858.30 - giving a failure setup to trade into-through.

green dot1 - red dot2:  there was no setup to try on the 1 line break of 858.60 - i had 1 partial at 857.70 AND just went flat at 858.30|.50f.  when i tried the buy it was a centerline shift-reject AND as mentioned in the room - i knew i had a continuation issue here getting through the floor pivot - the setup is right side base as the shift occurred with mex flow up. 

the buy = +858.90f AND after the tweezer reject of the floor number - i exited -858.50 AND then sold the red dot -858.40 as a pause-reject of 858.60.  basis mex flow i will not call this a base centerline trade - it was done as a centerline trade after the resistance reject AND to resume the open sell.

green dot2:  -858.40 +857.60 +857.20 reduce - 857.40-857.10 are the paa prices in the area.  we had a very good start point to do a sell BUT no setup on the V reject from 857.10.  not wanting to 'chase the exit' as this was happening WHICH is a function of the V - i held the trailer for reject AND then reversed out back through that purple line break after 858.60 had hit = +858.50f.

 

7-13-07 open:  where were your open paa prices - were there any related trades?  what-where were your open trades?

open paa prices:  861.50 - 860.90-860.40 | 859.80-859.50 - 858.70 | 858.20-857.90 - 857.20 --- 858.20-857.90 the key closing price action from the previous day as an 857.20 test-reject as support gave an 857.90 break2 through 858.20 WHICH broke out to the closing high.

red dot - yellow dot:  the sell is a break2 of the 858.70 paa price WHICH was the open centerline - this is a base setup into the ledge breakout = -858.70|.60f +857.70 p1 +857.10|.20f reduce - trail. 

IF flat - trying to sell the channel reject through the 858.20-857.90 would be into a pmd BUT also with some room to where the pmd location would be from a breakout of the 857.50 lows AND the next paa price 857.20.  filling an open sell at -858.20|858.00 - would have partialled - again trying this would be related to price AND not right side only and a fast chart pmd.

green dot - blue dot:  i understand missing the red dot then not doing the yellow dot - the buy though 'shouldn't be missed as there was an initial base AND base first continuation - using paa prices AND being able to synch this to a strong breakout move from the previous close starting at the same location.

the green dot buy is a pmd swing-reverse - done with the pmd test of the 857.20 price AND then a shift reject of that line = +857.70|.80f reverse of the trailing short - no partial has been taken yet on this chart.  IF flat - the blue dot is a base first continuation trade as a shift reject of the 857.90 - buying 858.20-858.30.

 

7-12-07 open:  where were your open paa prices - were there any related trades?  what-where were your open trades?

open paa prices:  852.60-852.00 - 851.20 which was also posted as the open centerline - 850.50-849.90 - 849.00

green dot1:  when i posted the green dot buy +851.10 - i mentioned that i had bought the break of the 851.00 blue focus line AFTER the 850.50 reject - BUT that it was essentially the same as the 851.20 paa price buy WITH the key to the trade that it was into-through the 851.70 triple top break of the 2 yellow squares.

yellow dot:  there were a couple of posts of this short as an 852.00 paa price break AFTER the spike-reject of the floor number AND i won't disagree that this is right side base - BUT it is also right into the 851.70 support which held.  i didn't do this trade AND continued to hold the initial buy +851.10 with -852.60|.50f p1 - 852.30 reduce.

blue dot - green dot:  the blue do is a very good setup - it's a break2 of the blue focus line-852.60 paa price break AFTER the 852.00 price shift-reject WITH mex flow up - AND into-through the inverted diagonal of the yellow line.  why is this called an inverted diagonal here instead of a pmd-failure continuation?  it is a pmd-failure BUT it's of the 852.60 paa price - that became why it was called an inverted diagonal because of the price - AND that is more significant which is why i liked this as an addon setup.  the green dot is where i actually filled = +855.80 - missing the 852.50 fill.  continuation to the next set of posted paa prices 852.60-853.30-854.20 - gave an 854.30 p1-854.10 p2 reduce.

 

7-11-07 open:  where were your open paa prices - were there any related trades?  what-where were the trades AND were they base - IF the initial trades weren't entered - were there any base first continuation trades?

on a relative basis i think that traders should have found today's open 'easy' to trade considering the multiple paa price setup occurrences AND the slope that we got to trade - the buy giving a pmd-failure AND then after the double top we got a base reversal setup instead of consolidation - the key to the blue dot focus line sell OR actually any situation when reversing out of a 'bigger' left side trade.

open paa prices:  841.60 - 842.50-843.10 | 844.10 - 845.10

blue dot dark blue dot:  already long on an aggressive open trade = 841.60 start point-842.50 paa price break +842.60 - IF you will go back and look at this in the context of the overnight movement-price action at 842.50 7:32ct - this entry didn't appear as aggressive when done.

IF flat blue dot1 is base first continuation - a failure-break of the 843.10 price WITH mex flow up [there were 2 points to trade through].  the dark blue dot is a paa price addon setup as a pmd-failure continuation.  i didn't do this addon BUT with the clarity of initial risk area AND mex flow up - i would sure have tried this if still flat AND would have tried it with a different directional read basis yesterday and the initial overnight move.

blue dot2 - red dot:  845.10 paa price double top reject start point AND IF the buy hadn't been able to move up 'so far with ease' - i probably would have done the yellow dot initial reverse into-through the 2 bar hits of the blue line - nothing done and still trailing.  i then blew the blue dot reverse as a base focus line pause-reject WITH mex flow down AND into-through the 2 blue square triple bottom break [should look like a very similar centerline structure as the sell on chart2 above].

the red dot was then done as the first continuation trade entry - break2 of the 844.10 paa price AFTER the shift-reject of the break area of the blue focus line.  there is a 52t mex 'pinch' that opened here BUT there is clear flow on the 120t.  partials were paa price related as well WITH p1 = 843.10 filling 843.00 on a break AND 842.50 filling 842.60.

 

7-10-07 open:  what were your open paa prices AND how did you use them for your open trades - what-where were your open trades?

blue dot textbook sell winner

open paa price post:  08:01:11 {tactrade} 85490 s-1 | 85460-85440 - 85370 | 85290 - 85190-85100

red dot:  after continuing to see the overnight movement that was being missed AND the directional strength involved - i decided to do the red dot as an 854.60-854.40 price pair reject into-through the 853.70 price WHICH was setup to break on the hit of the line before the 854.40 reject = -853.90 +853.10 p1 AND then on the retrace into-at the open i never got p2 or a reduce - the trade was never exited.

dark blue dot - blue dot:  IF i had exited the sell - the dark blue dot would have been my open trade as a reject of the blue line AND the 854.60-854.40 which was being tested at the point - similarly to the 854.40 test-reject of the left blue line into the sell.  the trade would have been a price reject-853.70 paa price break - done because it was WITH directional strength AND through the diagonal WHICH included the inverted diagonal at the 852.90 paa price [the bottom dark blue line-yellow line inverted diagonal there.

IF flat the blue dot is the first continuation trade - really a trade that all traders sensitive to the market conditions AND a sup:res retrace reject resuming directional strength AND the paa prices involved that included that key breakout setup - would have as their open trade if not doing the dark blue dot.  all things considered - the blue dot is a 'textbook' trade.

i really should have done the blue dot as an addon BUT still with available partials - went ahead and focused on expanding partial2 which was done on the breakout that occurred = +851.00f p2 of the -853.90 red dot sell.

 

7-9-07 open:  what was the key price for trading the open AND how did you use it for your open trades - what-where were your open trades?

52t blue dot is a base trade winner

key price = yellow line 860.00 7-6 high

green dot:  860.00 break through high with mex flow after the initial reverse.  i tried this trade as a failure break of the previous high into the 860.50 open high - i think this was a trade worth trying BUT since the entry was also done as a ledge break i won't call it base.

red dot - blue dot:  something we quickly found out after the open was that the market was 'choppy' - not a real surprise considering it was the day back after the holiday break.  seeing the 'chop' AND the location of 860.00 as a key shift to support - i didn't want to trade again until i had a setup that i could see as a failure break of that price OR a setup with room to trade into the price. 

i didn't do the initial reverse at the yellow circle then didn't do anything right at 860.00.  when i sold the red dot using the 860.20 focus line - the trade was done after the 2nd yellow square rejecting the channel AND into the 860.00 break setup-860.00 previous break.  this is too flat to call a diagonal BUT the line has been setup to break-fail = -860.20|.10f reverse the +860.10 open buy.

again i can't call this a base setup - it is a price setup done when i felt i was trading the break-failure of the price.  IF flat the blue dot is base as a reject of the 860.20-860.00 price WITH mex flow.

120t blue dot - 120t red dot:  the blue dot was a base addon setup as a matched price failure of the blue line WITH mex flow - the 52t synch was as a break2.  i didn't add there AND then tried the red dot which looks like a 'bad' trade against mex flow AND right side i agree - when i tried this trade is was a price setup as a shift-reject of the blue line-failure of the purple line overnight low.

how difficult was the open AND chart reading for setups - very difficult in terms of the bars 'forming' clear setup patterns - a function of the 'choppy' open.  i have shown you 3 trades that i did which i couldn't call right side base - the trades done as price setups when i thought there was a reject-failure as part of the setup.

 

7-3-07 open:  what were your open paa prices - what-where were your open trades - where IF any were there base setups?

open paa prices:  853.30-852.90 - 852.10 | 851.50

dark blue dot1 - red dot:  i considered doing the aggressive dark blue dot open sell as an 852.90 test-reject sell into the setup break of the 852.10 price - nothing done AND then did the red dot sell at 852.10|852.00f.  i am fine with trying this trade since it's with mex flow BUT don't want to call it base as there is no break2 OR failure component like trading into a diagonal-2 points.

yellow dot1 - dark blue dot2:  nothing done at the yellow dot-indicator reverse into the 852.10 price.  IF i hadn't done the red dot sell - i would have sold the dark blue dot as a reject of 852.10-failure break of 851.50 through the 2 purple squares.  this is base AND although not done - a good addon setup.

yellow dot2 - blue dot-green dot:  again i did nothing at the yellow dot - not wanting to buy the channel breakout right into the 852.10 price - i did exit the buy.  the blue dot is base as an 852.10 shift-reject WITH mex flow BUT i missed filling my trade.  the green dot buy that was done was an entry into the blue line matched price failure WHICH was additionally 'read' as a break setup of the 852.90. 

the dot location which was an 852.60f - was simply done trading into the breakout instead of after the breakout AND using the 852.50 bar high break which was the lower high into the open sell - see your 120t chart for this bar AND for mex flow when this buy was done which was still up on the retrace-retest of 852.10 before the entry.

 

7-2-07 open:  what were your open paa prices - were there any open trades related to these prices?  what-where were your open trades?

open paa prices:  blue line 845.30 centerline - 846.30 first resistance-844.30 first support.

yellow dot1:  this was a break setup of the centerline BUT i didn't do the trade - then bought the green dot +845.70 as first continuation BUT 846.20 held the 846.30 so no continuation or partial.

yellow dot2 - red dot:  i didn't exit or reverse on the centerline pause-break - so also no reverse back long on the pause-reject of the centerline BUT i did make a bad trading mistake at the yellow dot2. 

this is a base pivot entry as break2 of the line WITH mex flow down on the lower high AND into-through the triple bottom break of the 2 purple squares - AND i did nothing BUT eventually exiting the buy at 844.80 for a 9 tick loss.  i discussed this further in the chatroom - trying to use this as an object lesson where the method had a buy winner at yellow dot1 AND a sell winner at yellow dot2 which was the clearest base setup up to this point - BUT i only had a loss which was also bigger than the typical loss - now what?

now what - what is there to do?  you can 'steam' and stop trading OR you can take your next base setup AND try to get back on track - the red dot was the next base setup as a reject of the purple line WITH mex flow still down AND as a break-failure of the 844.30 price - the sell filled -844.40 selling the reject bar low.  there was continuation to 843.40 WHICH filled a 2x partial at 843.50 - that price being the next open paa price under 844.30.

 

6-29-07 open:  what was your open centerline AND was it 'usable' for open trading - what-where were your open trades?

centerline:  my open centerline was a focus line - placed at the tweezer low into the overnight high AND was 'paired' with 848.00 which was where a closing sell reversed from the previous day.

red dot:  when the short was done - it was as a failure setup of 848.00 and the 2 yellow squares - entering on the centerline break after the 2 'failure' points AND with the lower high spike bar with mex flow down.  this is a base setup.

green dot - yellow dot:  the buy is a pivot trade [the red dot sell setup was base] BUT with a floor pivot reject WITH mex flow up AND into the 2 purple square diagonal - WITH overnight directional strength. 

compare the yellow dot to the green dot - you may view both of these as pivot trades BUT they are completely different in terms of the buy having additional setup components -vs- a line break-indicator reverse at the yellow dot.  also compare the yellow dot to the red dot - those should not look at all the same to you in terms of setup components - where the red dot is a base setup AND the yellow dot is a non-setup.

purple dot:  this is a base setup as a centerline shift-reject WITH the mex roll back AND as break back through the purple square-purple line into the high.  IF you simply try to say that there is no trade setup there because it's a ledge break - you need to regard all of the setup components giving the reject-failure combination WITH direction.  AND that this is not an extended ledge with no price relevance AND traded as a ledge breakout with not failure component.

 

6-28-07 open:  where were your open prices AND how were those used for trading - what-where were your open trades?

open prices:  845.80 was the initial centerline that was shifted to 845.30

red dot:  nothing to do at 845.80 AND then sold the break of the shifted centerline which had to 'area hits' of the line pre-open - the trade is considered an open ledge break into the lows - not base.

green dot - dark blue dot:  i referred to this in the chatroom as an 845.30 pivot reverse BUT also consider what else can be seen at the time:  (1) the 845.30 price had been established as a centerline so it's on the chart  (2) the entry bar is a spike-reject of 844.90 which was a price that could be seen as the retrace low into yesterday's close (3) the diagonal break potential through the 2 yellow squares.

i won't call this base because there is no break2 and/or mex flow up on the retrace - it is an initial reverse pivot trade done because of the other setup components as described.  now the further issue - did you by chance do the red dot sell BUT not the buy?  the buy is the 'far' better setup - so after trying the sell i then tried the buy as well.

the dark blue dot is a base price action reject-failure setup - clear mex flow up at this point on the 120t to add to the price components.  the reject of the centerline with the break-failure of the 845.80 line into-through the triple top break of the yellow-blue squares.  845.80 is still to be viewed-used as a price - it's not 'irrelevant' because of shifting the centerline at the open to 845.30 - that gave us a 'price pair' to use. 

using the failure-breakout described - a base partial wasn't taken at 846.10 which would fill on the breakout BUT instead the breakout was used to try and expand the partial = -846.60 2x on the hit of the 846.70 price which was that stall area mentioned in the email.  still trailing on the last bar of the chart - nothing done on that initial retest of the 845.80 price with the 'cushion' of the expanded partial.

 

6-26-07 open:  where was the 'key' price specific for trading this chart AND were there any trade setups that occurred using that price - IF yes what-where?  considering all possible trade setups - what-where was the setup that 'should' have been done?

key price:  dark blue line 838.10

green dot:  837.80 was a focus price in this area posted as 838.90 - 837.80-837.10 - a price action area continuing yesterday's reversal.  the green dot buy was done as break2 WITH mex flow - after a break setup of the 838.10 price - also with a start point of the 837.10 price-floor pivot reject.  this is a base setup.

red dot1:  double channel hold - blue line ledge break after the lower high.  this is a pivot trade tried AND against the 120t at the time - i would not refer to a trade like this as a trade that 'should' be done.

red dot2:  837.80 held on the 838.40 sell - no partial AND flat 838.60 - i didn't try a pivot trade reverse back long.  red dot2 is break2 of the 838.10 WITH mex flow on both the 52t-120t AND WITH the diagonal that includes a triple bottom break of the 837.80. 

the green dot is base AND i see no reason not to try that trade BUT this is the trade i referred to that 'should' be done - the comment simply one of the additional setup components that include price failure - a key component to continuation.

 

6-25-07 open:  where was your open paa prices AND centerline - did you have any open trade setups related to the prices - what-where were your open trade[s]?

open prices:  837.20 overnight low - 838.10-839.30 - floor pivot || 837.20 - 836.50-835.60 | 834.60

yellow dot-dark blue dot - green dot:  could have tried an immediate open buy at the yellow dot as an 838.10 reject BUT this isn't with overnight price action as it's coming off of the lows AND i have no other setup component to this trade - especially at the dark blue dot which is a break right into the 839.30 centerline.  the green dot buy when done was a first continuation to the yellow dot initial AND as a break setup of the 839.30 centerline - still with mex flow up.

red dot - blue dot:  +839.30 -840.20 p1|-840.20 p2 - red dot sell -839.30 reverse - when i did the trade i merely called it a pivot reverse after the double top.  this is a price action start point = double top reject - initial indicator reverse-pivot sell - this is not a base setup OR pivot entry since there is no break2 of the line with a lower high retrace-mex flow down - again it's a pivot trade as described.

the blue dot is the first continuation setup AND is base - it's a centerline shift-reject WITH the reject coming with mex flow down.  no exit on the fast chart indicator reverse - so still short at the last bar of the chart.

120t red dot - yellow dot:  the red dot is a wedge continuation addon using the reject of the break area of the first continuation sell AND the diagonal-838.10 paa price synch.  the yellow dot is another addon setup - this one is 'across the chart textbook' as a right side break2 WITH mex flow AND after a tweezer reject of the channel break the addon was traded into - triple bottom break of the 2 yellow squares WHICH is additionally significant as the failure of the overnight low.

one of the things that becomes unfortunate is when a trade like red dot1-blue dot first continuation - have 2 partials taken AND then there is a failure setup like this BUT there are no more contracts available to partial for the 3 contract trader.  i understand that addons are difficult for many BUT also understand that the trade that you want to be in more than any other trade - is a trade that has a failure of a key price which would 'stop continuation' of your trade - in this case the overnight low as support. 

do remember that there is no rule regarding addon size - meaning there is no reason not to do a 1 contract addon AND exit it on the strength of the move [IF this is your risk tolerance tradeoff between risking profits that you have already made] - the key is that you have further maximized a continuation price move.

 

6-22-07 open:  where were your paa open prices - was the blue line-yellow dot a related trade AND if not - what-where was your open trade?

open paa prices:  if we had been in the chatroom i would have been discussing the 843.40 price as support to yesterday's move up during lunch AND how this synchs with the floor pivot. then i would have been discussing the 845.50-844.90 price pair as the center area between the 847.50 high AND the 843.40-floor pivot as support.

yellow dot - red dot:  so is the blue line-yellow dot a paa price trade AND you can add a double reject of the 844.90 price as a setup component?  no there is a price reject BUT no failure - IF this trade is done you are merely trading into-at a focus line in open consolidation.  note - if you did the yellow dot and still held it after the 843.40 reject AND focus line break you ended up with a winning trade - but that doesn't make it a trade setup.

i sold the red dot as a focus line break2 AND after the 843.40 price had been setup to break AND with the 120t synch mex flow down on the lower high retrace.  still no failure setup of a support area BUT i was willing to try the pivot entry with the lower high-channel above the yellow dot - as initial risk = -843.90|.80f +842.80|.90f p1 - 843.10 p2 reduce.

dark blue dot:  IF flat would i have tried this trade - as a double channel reject-focus line shift-reject break2 of the 843.40 line WHEN there was a previous double break of this line [see yellow square pairs] - as a setup to break-fail through the floor pivot.  i can't answer for sure - i would be thinking about the down direction BUT also thinking of the previous day reverse AND that this was the open range search period.  IF this had been 'later' after there had been more price action to have observed - giving more of a sense of directional strength instead of simply direction as net change - i can then try this trade.

green dot:  this was the reverse of my red dot sell - discussed below.

 

6-21-07 open:  overnight follow through to yesterday's selloff BUT the first open trade setup is a buy - did you try a trade AND IF yes - what-where?  IF you didn't do an open buy was this a directional decision BUT then after seeing how far the move went - did it effect your decision regarding trying a sell - are you short by the last bar of this chart AND what-where was the trade?

open prices posted:  842.40 6-13 high | 841.30 6-14 low - 841.40 6-20 low | 840.50 6-12 high.  price action area prices from the 240t = 840.40-839.70 - 839.00 | 838.40-838.00 - 837.70-836.70 | 835.50 - 834.60.

green dot - dark blue dot1-2:  open trade setup was a buy AND it was tried - as a shift-reject of the 839.70 line into-through the triple top break of the 2 yellow squares from the pre-open setup.  IF flat i would be concerned with trying the 840.40 dark blue dot which is essentially a pivot trade against mex flow AND against direction - i would have tried the dark blue dot2 as a pause-reject of the 840.40 line with the mex rollback - through the high AND into 841.30-841.40 as the first target.

+840.00 -840.70|-841.40|trail

red dot - blue dot:  the buy swing continued to 842.30 AND that tick-miss of a price specific-in this case 842.40 as a start point AND the 52t retraced back to the 841.40-.30 area.  basis direction AND the price action area prices - 841.40|.30f reverse of the green dot buy.  IF flat i would have done the blue dot as the first continuation setup - a reject of 841.40 through the first break of the line AND note how this is also a break of the 2 blue squares.

-841.30 840.50 target1 BUT when it hit i missed the partial profit because i didn't have base resting AND there was a retrace - so no partial on the trade on the open chart.

120t yellow dot:  are you still flat AND was the decision not to do one of the buys a direction decision - IF yes isn't there an inconsistency when you didn't try a directional trade which is a reject of resistance-price specific break setup - for the same reason you wouldn't try a buy?  do the buy and the sell OR do no buy and do the sell - BUT do the sell. 

the yellow dot is the next setup AND is another price trade through 840.50-840.40 WITH direction AND WITH the breakout potential of the left side diagonal.  after not partialling on the first hit of 840.40 - when there was a setup like this that then triggered which was actually a base addon setup to the red dot - i then tried to use this for a partial expansion = 839.00 next target break to 838.70|.90 p1.

 

red dot:  i wanted an addon using the lows matched price synched with 839.00 BUT didn't have a setup there - after the line break-hold AND with the mex rollback - i went ahead and did the addon = -838.80.  continuation to the dark blue square 837.70 price = 837.60|.80f initial sell p2-addon p1.

 

6-20-07 open:  overnight move up BUT the open swing is down-up - then sideways between the open high AND the area of where the initial reverse back 'into buy' occurred.  what-where were your trades during this period - do you have a trade setup to be short on the last bar of this chart AND if no - what-where was your next trade?

open price line:  08:28:24 {tactrade} 860.20 - 859.40-859.00 | 858.30 - 857.50 | 856.50 - 855.60 - 854.60 | 853.90 - 853.10

52t red dot1:  we started the day with an 858.30 centerline which wasn't usable for an open trade - 857.50 which was yesterday's high was the next price - the red dot sell became a reject of 857.50 = -857.30 WITH the entry into the tweezer break of the channel. 

-857.30f +857.50 with no partial filled because in trying for a break through 856.50 i then couldn't fill base1 - i rank this trade setup as #3.

green dot:  this setup was a price action pair setup AND as a reject-failure combination - the price pair was 856.50-857.50.  the trade setup was an 856.50 price start location - blue line break2 WITH mex flow - into-through 857.50 AFTER 857.50 had been setup to break.  the dot is located where it is at because i didn't fill until 857.50

+857.30|857.50f -858.50 2x/trail - i rank this trade setup as #1.

52t red dot2:  the buy was a lower high test of the open high AND we went sideways essentially between 859.00-857.50.  the red dot sell was break2 of the blue focus line into 857.50 which rejected.

-858.00|857.80f = -857.80F WITH no partial - still short at the last bar of the chart - i rank this trade as #2.

trade ranking:  the buy is #1 because of the setup is initial base AND with a price specific start point AFTER the key 857.50 price was setup to break.  sell1 -vs- sell2 - i feel sell2 is the better setup because it's initial base instead of first continuation so there is better entry location AND there is a reject-failure [the reject is that of the 858.30 centerline area] instead of just a reject.  i mention this because there were some traders posting trade1 BUT then didn't do trade2 or trade3 AND for me those are the better trade setups.

120t blue dot:  actually for this period i think this is the #1 setup - a reject of 858.30-failure of 857.50 - into 856.50 WHICH may become a double bottom BUT could also pause-break. 

in this case the -857.80 was 'trailed behind' at 856.50 - meaning that i was trying to let it break BUT was ready to partial IF it didn't - i am trying this not because 856.50 was the low BUT because it was the low AND it was a price action area price.  the breakout did occur AND the partial was done at 855.80 when 855.60 next price action area price hit = 20 tick partial -vs- 7 tick base - also something i can compare to the base1 that was missed on sell1 trying for an expanded base.

120t red dot:  856.50 shifts to resistance AND there is a retest lower high = reject AND i shorted the reject back into-through the 855.60 price WITH 'intended' continuation through the overnight low = -855.70f +854.70 add 2x partial.

 

6-19-07 open:  where was your open centerline AND the paa prices above-below it?  of all the potential open centerline trades - what-where was the trade that 'had to be done'?

open prices:  852.70-852.50 - 851.90 | 851.20 - 850.60 centerline - 849.60 | 848.50 - 847.80-847.40

green dot:  centerline reject with mex flow AND through the 2 blue squares - BUT also counter right into 851.20 AND against 120t mex flow.  is the dark blue line above 851.20 and inverted diagonal - yes BUT that is a test of the news reaction high AND not of a paa price specific.

red dot:  this was the trade that i was referring to - a reject of the 851.20 price AND break of the 850.60 line which had 2 hits at the dark blue squares making this a failure break AND into-through the 2 yellow squares diagonal on the 120t WITH direction.  i tried the green dot buy THEN 'had to try' the red dot sell as a reverse.

120t blue dot - 120t red dot2:  IF flat is the blue dot a base first continuation OR an addon to the red dot1?  to answer yes your are saying that 849.60 and s1 are setup to break-fail after entering at this location.  i could try this if flat as i would answer yes to the failure entering at the blue dot into the triple bottom break BUT don't like this as an addon.  the red dot addon is done after the triple bottom break AND after a 2nd reject of the 849.60 [this 2nd hit will be more apparent looking at this location on your 52t] - this was not the first reject of the floor number.

 

 

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