Pattern Trading - 3*Push, Triangle

Realtime Examples - Day 4

Session Start: Mon Oct 20 09:48:58 2003 - [times thrown off by computer reboots]
[09:49] good morning
[09:52] am watching reaction to hourly /20ema in this first bounce
[09:53] ES .. has a small bear flag visible on 5min chart
[09:59] ES 1,039 .. am setup .. a couple of channels to contend with .. watching 9:55 interval .. ES_intraday__1020_am.gif

[10:00] tick +205 .. working on lod sequence
[10:10] 9:55 .. should get a lift
[10:10] looking for reaction at upper channel bounds
[10:11] tick +869 .. hod retest
[10:12] ES 1,040.75 .. small 3*push higher series completing, dunno if it has any uumph
[10:13] tick +969 .. hod
[10:20] ES 1,041, NQ 1,403 .. up to test hourly /20ema
[10:20] whoops .. NQ is lagging
[10:20] candle player look for "evening doji star" on 5min
[10:21] tick -225 .. lod
[10:22] ES 1,039.5 .. an update .. ES_intraday__1020_am2.gif

[10:26] ES 1,039 .. very key pivot .. this is neckline of a 5-day h&s pattern
[10:27] ES 1,038 .. test of rising channel, lower bounds .. a break below here confirms bear flag pattern
[10:28] for folks that didn't trade in 80's .. fwiw .. Oct 19, 1987 was crash day
[10:29] not that it is gonna happen .. but those dates get burnt into traders' psyches
[10:29] ES 1,038 .. 2nd knock on lower trendline of spike lows
[10:31] ES 1,037.25 .. bear flag /rising channel breakdown .. is confirmed
[10:31] tick -726 .. lod
[10:32] just dance to the rhythm .. tick is giving the drumbeat
[10:36] ES 1,036.25 .. key level to watch for any kind of support to establish (or fail)
[10:37] rising channel breakdown measures to 1,034.75, min .. 1,036 would be only logical place to try and stop full measure
[10:48] ES 1,035 .. channel breakdown measurement here
[10:49] if unable to establish support @/around 1,034.75 .. need to watch for full bear flag downside measurement
[10:49] shallow bounce makes sense here
[10:49] ES_intraday__1020_meas.gif

[10:50] very typical to revisit the previous day's last hour range before moving on in ayem trend
[10:50] tick momo .. perfect timing
[10:58] tick impulse spacing on 65min intervals .. giving any shallow bounce sequence until 11am
[10:59] a 5-day head&shoulders patttern is confirmed with inability to rise above neckline at ES 1,039
[11:03] ES 1,036.75 .. 7.75pt range .. bounce here is +2.75 (Friday's measuring stick)
[11:05] ES 1,037.5 .. test of 5min /20ema "grail"
[11:05] whoops .. 1,037.25
[11:07] 50% retrace levels
[11:15] ES 1,037.5 .. tick +475 .. am watching for overhead resist+exit at 1,038
[11:16] 11am .. another 65min tick cycle completing
[11:17] 6 bar down .. 6 up, here (5min chart)
[11:22] dunno, really .. having problems for you?
[11:22] ES 1,038.. bingo
[11:25] tick -89 fade
[11:27] ZB /bonds .. a second lift day following Friday's hourly channel breakout .. testing ability to hold above 50dma, now
[11:31] having problems with the chart.nu address .. if you need to get to website, use http://chart.mine.nu/
[11:35] 'b' wave attempt?
[11:46] ES 1,036 .. testing rising channel, lower bounds .. key level here
[11:48] ES 1,036.5 .. am update .. ES_intraday__1020_b.gif

[12:03] ES 1,039 .. 'c' wave here
[12:03] measures to 1,040.25
[12:04] keep close eye on reaction to 5-day neckline @ 1,039 (resist)
[12:06] ES 1,039 .. p-line, or parallel channel measure being tagged.. ES_intraday__1020_c.gif

[12:07] sligh tick divergence .. watch, but allowing for 3rd push higher possibility
[12:08] market has been working in 6-bar 5min increments
[12:09] a bearish "gartley" can prove itself at 1,039 .. based on impulse + abc retrace geometry
[12:26] ES 1,039.5 .. eye on any 3*push higher to show here
[12:28] ES 1,040.25 .. full target measure. all done
[12:30] ES 1,040 .. final am update .. 3rd push higher complete .. ES_intraday__1020_g222.gif

[12:30] catch y'all in PM session...
[12:59] ES 1,039.5 .. pm setup .. assuming some type of triangle consolidation based on same setup on 10/10 at these levels, transposing previous bounds .. ES_intraday__1020_pm.gif

[13:53] ES 1,039 .. pm update .. ES_intraday__1020_pm2.gif

[13:54] noting that the right shoulder of h&s setups .. is most often formed on break of a rising channel
[13:55] 3rd knock on rising channel, lower bounds (off spike lows)
[13:57] ES 1,038.5 .. 4th knock on neckline, here
[13:57] for symmetry purposes, am allowing for 2nd shoulder to build
[14:00] chiropractor in da house
[14:04] ES 1,038 .. neckline cracked .. confirms larger symmetrical triangle formation, gartley, and h&s patterns
[14:05] lots of targets (lower symmetrical triangle bounds, h&s measurement) .. point at 1,036
[14:07] whoops.. tick cycle got lots on last few charts (trying to make 'em as small as possible) .. more color here .. ES_intraday__1020_tick.gif

[14:08] only thing that matters here are larger pattern targets and price action
[14:09] ES 1,037.25 .. first a-b-c "measured move" here
[14:10] would watch 1,038.5 on any weak rebound as a spot to confirm past support -> future resistance .. typical evolution
[14:11] note the tick timing intervals just mentioned
[14:13] last update .. note the timing (pink) time slots that are shown on the -tick momentum- oscillator .. very key for timing scalp moves, here .. also helps with pattern evolution
[14:20] ES 1,038.25 .. here comes 2nd portion of bounce .. eye on .5
[14:23] tick momo .. putting on blinker signal .. any slam lower will be watched for divergences .. last tick timing interval 2:40pm
[14:25] ES 1,038.25 .. 1,038.5 represents overhead combo resistance of 5min 20ema+40ema+neckline .. will be key for PM trend
[14:26] tick +801 .. turn lane?
[14:36] helps to clarify my thoughts, trades, and rhythm
[14:37] ES 1,037 .. eye goes to full h&s measure .. tick -527
[14:38] tick -634 .. extreme .. key 5min interval
[14:43] on divergence watch here .. getting overlapping wave structure on waning momentum
[14:43] an ideal scenario carries a spike low to 1,036 at 2P40pm
[14:45] [antelope] goldman sells 35 big cars
[14:46] thx, goldilocks .. tagged 1,036
[14:50] 3*push lower series .. done
[14:53] ES .. setup for close .. ES_intraday__1020_close.gif

[14:42] ES 1,038.25 .. Raschke also had "symmetrical triangle" on her mind .. SP_intraday__1029.gif
[14:42] grr.. wrong day .. SP_intraday__1020.gif

[14:44] from here education charts section
[14:44] here=her
[14:46] turn momo .. registered higer-low .. vs lower-low in price action .. a divergence still being worked off, here
[14:48] ES 1,037.5 .. +2.25pt bounce .. a "measure"?
[14:52] ES 1,038.25 .. testing upper bound of descending channel .. first time price action is in bull's court .. 5min/40ema check here
[14:54] if you are playing e-wave games .. think 3-3-(5)(uncompleted)
[14:55] already worked thru alphabet soup to 'e'
[14:55] whoops .. 'd'
[14:57] ES 1,039 .. upper triangle bounds around 1,039.5 ..
[14:58] I don't care about alphabet soup .. or other junk .. only learned to count to 3 when was young .. keep it simple
[14:59] ES . +3pt bounce
[14:59] 6 bars, here .. whoops .. guess I got to count a -bit- higher.. maybe to 8
[15:00] ES 1,039.5 .. test of upper symmetrical triangle bounds
[15:14] ES 1,039.5 .. still surfing bounds of symmertical triangle .. ES_intraday__1020_tri.gif

[15:14] a tough spot .. watch which direction the breakout resolves
[15:14] ES 1,40 .. bar #8
[15:15] whoops .. 1,040
[15:16] ES 1,040 .. 5min 5/35 .. has worked off positive divergence into goldilocks + 3 bears attempt
[15:20] does today's triangle look familiar? .. dunno .. upper+lower bounds taken from this exact setup .. ES_intraday__1010_close.gif

[15:20] patterns repeat?? .. nah
[15:21] doesn't really matter
[15:21] my macd settings don't really mean squat .. use whatever indicator /oscillator you -like- and -TRUST-
[15:22] I don't have some magic crystal ball .. I can't move mountains of cash .. some other big fish are making these waters stri
[15:22] sri = stir .. I just watch for the frenzies
[15:24] ES 1,040 .. small overlapping wave structure visible on 5min
[15:24] tick turn signal blinking
[15:26] micro-wolfewave structure presented on 5min chart .. looking for signals @ ES 1,040.75
[15:29] ES 1,040.75
[15:31] there's a wolfewave howling on 5min, here (unconfirmed)
[15:31] battling against larger symmetrical triangle breakout attempt
[15:34] triangle breakout confirming
[15:35] use parallel line projection off 9::40 am as target#1
[15:37] e-wavers would be looking for (5) to complete
[15:37] parrt of larger 3-3-5 scenario
[15:40] ES 1,041.25 .. does today look familiar?? ES_intraday__1010_3series.gif

[15:41] image taken 10 days ago
[15:41] same geometry as today
[15:43] ES 1,042 .. final update .. ES_intraday__1020_335.gif

[15:43] good nite, all
[15:43] all patterns played out
[15:44] candle players look for "doji" .. and "evening doji star"
[15:44] 5min basis
[15:44] peace, all

[16:03] Raschke .. some great pattern examples:
[16:03] most of 'em were followed in #pitstock
[16:03] SP diamond: SP_intraday__1020_dia.gif

[16:04] SP triangle breakout: SP_intraday__1020_tri.gif

[16:04] SP "measured move" .. SP_intraday__1020_mm.gif

[16:05] all images have been found after the close .. just to let you all know that more than one trader "sees" this same stuff .. pattern trading works
[16:05] good nite

 

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