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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (43367)	1/12/2001 8:34:33 AM
From: SE	Read Replies (2) \| Respond to of 44573

Feel a bit uneasy posting this, cause the day is all over the map in my pattern study. I have a plan of attack and it is mapped out below, but it is one of those days where it is going to go up down or sideways. Even though I found some clues in the charts I examined, this material is likely garbage today to those without the charts or dates. Here is my plan nonetheless, if anyone else can make sense of it. If not, just ignore this crap. ================================== Once again I don't know the shape of the day. I have many one way up days and many one way down days. Unfortunately I don't have time to be more discriminating today, so I mapped the flows of all the days and found some correlation between the highs and lows of the day, even though the shape of the day is unknown. Should be a high point between 9:45 and 10:15. Followed by a low shortly thereafter between 10:15 and 10:45. In most cases the low was 15 minutes to a half an hour after the early high and the magnitudes of the moves were between not worth trading and up to 10 points. So that is little help in the early frames. The key to the days seems to be the next move. The morning action I cannot find a good pattern to trade, so it is noise at this point. Now I did find something that is key I believe. That is if the morning high is broken, on the next high, then the day was a one way up day. If the morning high is not broken by the next high, the day was a 1 way down type day, sometimes with a tail. In the three one way up days, the morning high was broken by 11:35 and the day saw up to 15:45 or the close. On the day where the morning high was not broken, we see another high between 11:45 and 13:00. This can be sold to at least 14:30 with a bounce to the close expected. My preference? To see the morning high broken and look to get long after that as the run lasted to the close. The other pattern of the day, the short was a good one, but you had to nail the entry cause there is not a lot of time to the low point and in some cases it ran hard to the close. So it is not as easy to trade.