The transition to Futures trading

[tech/a]

Thought Id do something useful.

 

[kid hustlr]

Note High Volume bar at 6.48 on the 3
Thats resisting at 6474

Tech,

This bar here you are talking about, obviously the high volume gives it significance, but am I correct in saying we only know its resisting based on the bar following it? Given that the following bar falls away pretty quickly its obvious that supply is great than demand.

IF the next bar had been a strong upthrust am I correct in saying that demand was swamping supply and that small range bar would act as support?

 

[tech/a]

Volume resistance is one of mine.
Its not a VSA alert.

 

[tech/a]

Perhaps this 9 min chart will show it better.
Its narrower on the 3 min If you have a look you'll see what i mean

I'm off to watch TV with both contracts with a stop at 6475
and a buy stop at 6445

 

[pavilion103]

I'm out

 

[tech/a]

I'm out

No Kahuna's!

 

[kid hustlr]

Volume resistance is one of mine.
Its not a VSA alert.


View attachment 53244

Appreciate your help tech.

One last one when you get a chance, the bar you have labelled "no demand" I understand what you are referring to (the low volume) yet how do we know this is a 'lack of demand' Up to that point the market has just been moving along in a trading range pattern. Is it the big reversal bar following which gives you the confidence to enter a short?

edit: the first 'no demand bar' @ 18.36

 

[pavilion103]

No Kahuna's!

Dammit.

 

[tech/a]

Appreciate your help tech.

One last one when you get a chance, the bar you have labelled "no demand" I understand what you are referring to (the low volume) yet how do we know this is a 'lack of demand' Up to that point the market has just been moving along in a trading range pattern. Is it the big reversal bar following which gives you the confidence to enter a short?

edit: the first 'no demand bar' @ 18.36

Yes thats right.
We don't know that it's no demand until proven.
We can anticipate that it is and that's what I did as price certainly wasn't making higher highs!
Every thrust was being met with selling resistance.
My short was placed low enough to indicate price was going lower.

As it turned out it wasn't decisive.

 

[tech/a]

Perhaps this 9 min chart will show it better.
Its narrower on the 3 min If you have a look you'll see what i mean

I'm off to watch TV with both contracts with a stop at 6475
and a buy stop at 6445


View attachment 53245

Off to bed
Nice when all goes to plan.

 

[pavilion103]

Good work.

Impressive again.

My stop placement purely a lack of experience. Can't get it all right but this time I let an opportunity slip (particularly holding 2 contracts).

The ongoing experience is worth plenty!

 

[statmech71]

Yes I'm also in. Saw that bar and the following one on the 3 min chart.

I've got the 3,5 and 10 min open.

Obviously your teaching is getting through!!!

Pav/Tech,

firstly congratulations on this thread - it's really informative and I've found it eye opening. Could any of you please elaborate on how you use the different time frames in real time to help read the market? I'm surprised you use time frames that are so close together - in my little reading people often refer to multiple time frames separated by a facor of four or five (e.g. hourly & daily, daily & weekly, etc.).

Thanks,

Paul

 

[CanOz]

Pav/Tech,

firstly congratulations on this thread - it's really informative and I've found it eye opening. Could any of you please elaborate on how you use the different time frames in real time to help read the market? I'm surprised you use time frames that are so close together - in my little reading people often refer to multiple time frames separated by a facor of four or five (e.g. hourly & daily, daily & weekly, etc.).

Thanks,

Paul

Hmm me too, i use an hourly for recent trend, with a channel, then a 5 minute with a 1 Range chart to look inside the 5 min bars and pin point the entries if i need to.

Whatever is comfortable and is proven to work i guess.

CanOz

 

[pavilion103]

I look at other timeframes too.

I start with the daily one usually and then check out the hour, 30 mins, 15 mins etc.

I don't stress about them all too much but I want an overall picture of what is going on and critical levels to look for on larger timeframes.

Then I'll open up 10,5,3 and have them up and see if there is any confirmation between the three.

I'm not too strict on how I do this but I just like to see both the larger and smaller picture. I don't want to overlook anything obvious.

 

[tech/a]

9 min for Patterns/Range and Volume general strength.
3 min for Timing and pin point where the volume and range came in
various bars. Good for minimising support and resistance bands,spotting stop hunts.
Entry and exit finesse if your watching screen.

I think you need enough bars to paint the story.
If you can see it clearly in a 60 min then that maybe all you need.
I also flip around other frames.

 

[statmech71]

Thanks guys!

 

[pavilion103]

Also a big thanks to everyone contributing to this thread. This is very much the type of thread I was looking for when I embarked on futures trading.

What better way for people to learn than follow a thread like this. Some successful and proven traders as well as someone like myself and others who are starting out and posting raw charts and live updates as they happen, rather than after the facts.

I'm hoping to add more charts and in depth analysis as I go. I haven't gone into a whole lot of detail other than posting live charts.

If we can get a bunch of people following the FTSE in particular and posting live thoughts in here it will give is plenty to observe and to think about!!!

 

[kid hustlr]

Seconded everything Pav is saying. This thread is great and all posters in here have been very helpful. I find posting charts with little blurbs/thoughts is the best way to go, I know it takes a little longer than typing 'long here at xyz' but its well worth it.

Not sure we want too many people trading the FTSE though Pav, it might start costing us slippage!

 

[kid hustlr]

A little bit of possible overhead resistance today but nothing which scares the daylights out of me.

 

[Trembling Hand]

Rather wild day in Asia today. Would think that will carry into the Euro session. Lots of biz being done on all sorts of conflicting data...... I've a headache!