@ChiefTrader14 i like to keep it. though some days it's very choppy on the open. Yesterday and last Friday were clean examples of strong selling from the open.
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KTrader
402 posts
@KTrader20 As soon as your OR gets tested do you keep it for the rest of the session or do you erase it since it has already been tested?
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@EsBoltoise @trade_with_Ice @NERV_flow *50 day look back period for RVOL, all days and day session only for settings
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@EsBoltoise @trade_with_Ice @NERV_flow interestingly same area defended on first test since last morning probe. Wasn't at my desk when it happened, was it headline driven? Either way, 30-second RVOL high was 600+.
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could be off here but the sequence from 7:50-8:06am PT (10:50-11:06am ET) looked like good resistance in real time. Constant upticks getting matched. Confluence with 30 second Opening Range Mid. Didn't expect it to go on to make a new LOD. @EsBoltoise @trade_with_Ice @NERV_flow
josh@XennialTrader
Speaking of replay.. If you want to see what actual support looks like, in real time, go back and replay the sequence starting just before 13:05 ET (through 13:30). It does not get clearer than that. Not sure if replay will capture the feel of it, but give it a go. That doesn't mean it was easy to buy or that it couldn't have just as easily tanked (I got shaken out at first). Had buyers gotten their fill and more sellers pressed, of course we would have flushed. But there was a "pushing the beach ball underwater" feel about it. On the 13:45 ET last test lower, I had zero hesitation to buy, and would have been genuinely shocked if we had dropped hard there. If you bought there, you were demonstrably being helped by a very conspicuous contingent of buyers who have announced their intent. Contrast that with buying a "level" because you have it marked on your chart, without any demonstration of actual support in real time. Speaking of "levels", ES 6600 is SPX 6550. Check out a daily chart and mark that back in Sep, Oct, Nov. #ES_F #NQ_F $SPX $QQQ
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@XennialTrader @EsBoltoise @trade_with_Ice @NERV_flow thank you, any insight on how you use it? I have mine set up with the standard SC settings.
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@XennialTrader @EsBoltoise @trade_with_Ice @NERV_flow thanks for the insight and reflection! much appreciated. Do you use the SC's "relative volume" study?
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In disclosure I was out of my long already, and I was not watching super closely. The sell was headline driven and as it was clear even before the dip got bought aggressively for the 2nd time, the market wants higher. So, if you're aiming for "how could I have caught that sell", for me, I wouldn't have, because my thesis is contrary to that. I will note though, that my thesis for today was that we would not break meaningfully higher, just need to stay north of 6624-37 (see pic).
For something actionable on that area you mention, note the volume per unit of time (say 10:47 to 10:57) and how it had slowed to a crawl. Find a way to quantify that with "slow relative to what" and it becomes more actionable.
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@trade_with_Ice @EsBoltoise @NERV_flow but same idea, probes into PD's VAH then goes higher at the first test on ES
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@trade_with_Ice @EsBoltoise @NERV_flow thanks for your response. Are you talking about NQ? I have ES testing yesterday's RTH VAH at 7:01am Pt/10:01PT
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@KTrader20 @XennialTrader I will post one a short clip then probably a breakdown as well
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Wanna learn the DOM? Go back and replayed HOD. This was such a clean sequence and engrave it in your head.
Cc:@XennialTrader for the pic and post
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