Trading ES without inidcators

[voff2]

From my very limited understanding of MP&VP I see current situation as follows: market opened inside yesterday's Value Area and traded above it expanding to the upside. In this case usually during first hour of London's trading market makes a new high (taking off stops that were set during Asian session). But not today, tody we stuck in the middle of VA. Taking in acount that yesterday's POC was at 1882.5 (and was not toched yet) I would suggest selling from 1885.75 with 1882.5 as a first target. Why 1885.75? Because there is a "pocket" in the vertical VP today and pockets usually stop any moves.

[yamantaka]

Just took the first trade. This setup is one of my favorites.

 

After there is a very sharp spike in price, I set a limit buy or sell (in this case buy) 3 points below the peak. If the trade doesn't get filled within 5 minutes, it's canceled. Today after the report, the opportunity was there and the trade was a winner.

 

http://i57.tinypic.com/33uxs77.jpg

[yamantaka]

Thanks for these good threads Yamantaka, thanks for chasing the scammers away.

Its good to see you using your own brain to identify patterns and price levels instead of ridiculous lagging/repainting indicators.

What are you using to identify those blue line levels? Previous points of repetitive price attention? That is what I see.

Good luck to you I hope you do well and help some people here.

 

Those points are simply areas where price was previously supported or rejected in trades 1 and 2, respectively.

Edited April 4, 2014 by yamantaka

[wannabie]

how is it possible to trade without indicators guys it sounds like unreall

[yamantaka]

how is it possible to trade without indicators guys it sounds like unreall

Technically, I suppose the bars themselves are indicators because they show you the past, but they don't lag like conventional indicators. Take a look at Suri's book--all those chart patterns don't use any indicators.

[Swordfih]

how is it possible to trade without indicators guys it sounds like unreall

 

Check this out (Mind your speakers volume-bad audio):

 

 

 

This one is in German but you'll get the main idea:

 

\ww.youtube.com/watch?v=MP7JoBz6WHA

[yamantaka]

I'm done trading, but if I was looking for a trade, the 1875.25-1876.25 would be a place I'd consider buying for a scalp.

[yamantaka]

Here's another one of the 100% fib extensions on the 15 minute chart. These can sometimes signal a good reversal but I just looked for a quick scalp especially since I violated my rules of trading after making the daily target (TY box) so only traded 1 contract. That order was resting a long time and my fill came quickly.

 

See for yourself if this setup suites your style.

 

http://i59.tinypic.com/sm6ln8.jpg

Edited April 17, 2014 by yamantaka