Trading ES without inidcators

[yamantaka]

This thread is open to all who care to share setups trading ES without any conventional indicators. Personally, I use a naked 15 and 60 minute chart. These tell me many things about supply and demand.

 

Currently I'm interested in buying the 1867-68 level. This is a 100% fib extension from the high reached at 10:15 a.m.

[yamantaka]

I'm looking to go short at 1875-77. Head and shoulders on the 60 minute chart. If it creeps up there, I'll pass. I want to see some velocity.

[yamantaka]

This thread is open to all who care to share setups trading ES without any conventional indicators. Personally, I use a naked 15 and 60 minute chart. These tell me many things about supply and demand.

 

Currently I'm interested in buying the 1867-68 level. This is a 100% fib extension from the high reached at 10:15 a.m.

 

Fib setup is dead. Pivot violated.

[yamantaka]

I'm looking to go short at 1875-77. Head and shoulders on the 60 minute chart. If it creeps up there, I'll pass. I want to see some velocity.

 

Price now 1875.00 and it is really slow. No fill. If it hits 1874, I'm passing.

[yamantaka]

Here's that supply top I mentioned earlier.

 

http://i58.tinypic.com/2nk6jko.jpg

[Swordfih]

Good initiative, I do trade ES manually (no indicators) and would like to start participating in this thread as well. But first, I think we should explain our setup and what we're looking for to avoid confusion. I'll do just that when my trading day is over. In the meantime, good trading.

[Traderbeauty]

great idea guys

would love to add some-

going to short the kitchen sink at 82.25 for at least 7 points

market reacted from 50 fib so i expect it to go to the 1.618 so already have my limit short trade at 82.25

Traderbeauty-Jane

[wizard101]

I second that nice to have an open discussion of varying conceptual ideas

[wizard101]

http://charts.dacharts.net/2014-04-01/mw-60m-ch1.png

[wizard101]

http://charts.dacharts.net/2014-04-01/mw-60m-ch2.png

[wizard101]

http://charts.dacharts.net/2014-04-01/mw-es-ch1.png

[wizard101]

sorry about that right margin guys, you can look at your price scale, the under/over divergences off doub bottoms/tops often produce high prob "turn" areas especially verifying another supp/resist area. Where they can really be useful is around 12:20-12:30 est where we had a bullish converg with the price directional flow which was to the upside still....Even though I use other supp/resist techniques, it is nice to verify an area with a heads up of "momo diverg" off a smaller time frame. If one had missed say that abc continuation low, then the higher low with the right momentum visual is another high probability continuation pattern, also from the echat crowd known as "mof" money on the floor......just another perspective combining both supp/resist, whether coming from fibs, channels, harmonics, with some momentum...

 

cheers

[yamantaka]

Hi @wizard101,

 

Thanks for participating on the thread; but please remember, the setups cannot use indicators such as stochastics, macd, and RSI, etc., etc.

[user33]

Would be nice for anyone who calls the trade to also state his/her reasons for such calls, otherwise I am not really seeing real benefits for making any calls. Just my 2 cents.

[yamantaka]

Just took a 1 point scalp on the 100% fib extension. Got filled to the tick!

 

http://i62.tinypic.com/b3smxg.jpg

[yamantaka]

I'm currently testing a pullback method after I've selected the short term market bias. In this trade, I'm taking a short after a 3 point retracement from the low. Worked for a 1 point scalp.

 

http://i61.tinypic.com/242c27n.jpg

[yamantaka]

Here's a trade I've been waiting on, but it probably won't fill before lunch, so I'll be canceling it since I won't be in front of the screen.

 

http://i62.tinypic.com/dcsb2a.jpg

[yamantaka]

LOL. Just got back from lunch and I 'm watching that set work for a scalp, which is what I wanted. Oh well, too bad; I never leave a manual trade open if I can't watch the price action. Because, this is ALL about price action.

 

http://i58.tinypic.com/20uwps9.jpg

Edited April 2, 2014 by yamantaka

[kenny123]

Yam - left you a PM. Thanks!

[yamantaka]

Here's another one of those 100% fib retracements and one I had hoped to catch, but this time I had to pick up kids from school. Those setups are high probability.

 

http://i62.tinypic.com/2ecd6pk.jpg

[forexmaniac84]

Here's another one of those 100% fib retracements and one I had hoped to catch, but this time I had to pick up kids from school. Those setups are high probability.

 

http://i62.tinypic.com/2ecd6pk.jpg

Yamataka,

can you elaborate more on the price action method you use?

Thanks

[yamantaka]

Yamataka,

can you elaborate more on the price action method you use?

Thanks

I have a handful of chart setups. I'll post more when they appear. Some of them can be found here. Recommended reading for PA traders.

 

http://www.amazon.com/Trade-Chart-Patterns-Like-Pros/dp/1604027215

[Synergist]

Where is the thanks button

 

Hi, trying to thank you but where I click to do so?

[Synergist]

Never mind, it's showing now.

[yamantaka]

I just took 2 trades.

 

The first was a Long reverse head n shoulders ("HnS") at 1880.50 shown with the lower blue line. The trade went in my favor 3 ticks and then started to retreat with some vigor, taking 2 ticks of heat and I thought my 1 point stop would get hit, so I moved it to BE and scratched the trade (of course it then moved back in my favor and hit the 1 point target.)

 

The second trade was a short after price moved up to the top blue line at 1881.75. I took this trade because price had moved to the point where a reverse HnS failed. This is a classic support turn into resistance setup and it worked for a 1 point winner.

 

http://i60.tinypic.com/29ktb1f.jpg