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 Post subject: February 6th Wednesday - Futures, Forex, Stocks and ETFs
 Post Posted: Wed Feb 06, 2013 7:40 pm 
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Joined: Tue Dec 16, 2008 1:02 am
Posts: 3326
Location: Canada
##TheStrategyLab (located on the Freenode IRC network) is free along with being a serious professional trading chat room for traders using WRB Analysis (e.g. Contracting Volatility, WRB, WRB Hidden GAP, WRB Zone) by itself or merged with other trade methods to improve the performance of those other trade methods regardless if you're a position trader, swing trader or day trader. Therefore, you're welcome to use the chat room to ask questions about WRB Analysis, post real-time price action analysis involving WRB Analysis merged with your own trade methods, post real-time trades or talk about general market issues impacting today's price action involving stocks, futures, exchange traded funds or forex currencies. In addition, we welcome all traders (beginners, experience, part-time, full-time) that are merging WRB Analysis with their trade methods or using WRB Analysis to help develop a better understanding of the price action (market context) they're trading...improving their position size management and trade management after entry.

##TheStrategyLab is primarily designed to be a trade journal for documentation purposes only so that members can have a real time stamp archive of their trades and their market commentaries of each trading day...giving them a better understanding of their broker statements from one trade to the next trade when they review their performance numbers on any given trading day in the past. Therefore, if you use our chat room...its highly recommended you post messages that reflect what you see in the price action on your monitors. Your diary (journal).

Also, if you want ##TheStrategyLab chat room to be educational for you...please ask questions instead of lurking (not participating in conversations).

Quote:
Chat room only for traders using concepts of WRB Analysis. In addition, traders that use ##TheStrategyLab are not required to post trades but if you do post trades...the trades must be clear (not ambiguous) entry price/exit price and position size. Traders that consistently post ambiguous trades will be KICKED (removed) from the chat room.

With that said, thanks for reading the trades, price action analysis or market commentaries that's below and we highly recommend you make reading of the logs a part of your trading routine because you will sometimes find useful market context information that's critical to understanding the price action you're trading. To log into ##TheStrategyLab chat room that's located on the Freenode IRC network...please follow the instructions here at the FTCHAT Support Forum @ http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=5 or via the the instructions from the TSL Support Forum @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Note: ##TheStrategyLab chat room is now located on the Freenode IRC network after moving from the Othernet IRC network.

Attachment:
020613-Key-Price-Action-Markets.png
020613-Key-Price-Action-Markets.png [ 518.22 KiB | Viewed 244 times ]

click on the above image to view today's price action of key markets

Session Start: Wed Feb 06 07:11:35 2013
Session Ident: ##TheStrategyLab
[07:11:35] * Now talking in ##TheStrategyLab
[07:11:35] * Topic is 'Chat room only for traders using WRB Analysis (WRBs, WRB Hidden GAPs, WRB Zones) for day trading, swing trading or position trading. | WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[07:11:35] * Set by wrbtrader on Tue Feb 05 08:11:19
[07:11:35] -ChanServ- [##TheStrategyLab] Chat room for day traders, swing traders, position traders using concepts from WRB Analysis to help improve the performance of their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[07:11:35] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[07:16:51] <@wrbtrader> WRB Analysis -> - Your use of this chat room implies you're using concepts from WRB Analysis to help trade either Stocks, Emini Futures (EMD, TF, ES, NQ, YM), EuroFX Futures (6E, EC), Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), Oil Futures (Brent, CL, HO, QM), Natural Gas NG Futures, Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQ, SPY), Forex Currencies (GbpUsd, EurUsd, EurYen, UsdCad) or other key market price actions.
[08:40:21] <MattR_> g'morning all
[08:57:41] <canaandog> long CL 95.19; flat 95.20 = +1t
[09:04:26] <canaandog> long CL 95.23; flat 95.27 = +4t
[09:04:43] <Donnin_> nice can!
[09:05:24] <canaandog> thanks. tough to hang on without getting trail stopped out
[09:09:53] <Bambam-77> using 24 as a pivot long above ss below cl
[09:17:52] <Bambam-77> from my observations of cl it trades in 20 tick increments
[09:19:10] <Bambam-77> 40 being a typical leg projection
[09:19:44] <Bambam-77> 44 is 40 from the swing low
[09:20:58] <Bambam-77> usually goog for profit taking
[09:21:10] <Bambam-77> goog is good
[09:24:00] <Bambam-77> ss 44
[09:25:08] <Bambam-77> 48 stp
[09:26:23] <Trendtrader> gm all
[09:26:45] <zr1trader> Morning everyone
[09:27:30] <Bambam-77> flat -.04
[09:29:22] <Trendtrader> Shorts Emini TF @ 901.5
[09:29:23] <Trendtrader> x4
[09:30:42] <Bambam-77> trying to by 44 same risk
[09:30:59] <Bambam-77> in
[09:34:19] <Trendtrader> Covered 1/2 Emini TF Short @ 900.5 --> + 1
[09:36:19] <Bambam-77> +10
[09:36:27] <Trendtrader> Covered Remainder Emini TF Short @ 901.4 --> + 0.1
[09:36:41] <Bambam-77> stp 46
[09:36:51] <zr1trader> GC vol increasing
[09:37:08] <Bambam-77> using 3 lots
[09:40:28] <@wrbtrader> Long Emini TF @ 902.50 -> large size
[09:40:47] <@wrbtrader> ouuch
[09:40:56] <Bambam-77> flat 46
[09:41:54] <@wrbtrader> looking for a Houdini Escape
[09:42:49] <Bambam-77> 903.6 pos t1
[09:43:01] <@wrbtrader> Exited all Emini TF Long @ 902.90 --> + 0.4
[09:43:15] <@wrbtrader> entry was a trade error
[09:46:36] <Bambam-77> like the cl tf loves the 2 pointers 20 tics with trgts of 40 just my two cents how does it compare to your observations
[09:49:51] <zr1trader> Bambam, I've done extensive studies of CL "gyrations" I think you are spot on by measuring swings of 40 cents or greater for that instrument.
[09:50:41] <zr1trader> I haven't kept on stats as of late but it used to produce 7-12 swings of .40c or greater a day with 1 out of 5 swings being greater than 100 cents
[09:51:05] <zr1trader> vol has quited down last 6 months in CL
[09:51:39] <Bambam-77> agree
[09:51:41] <zr1trader> used to have ATR of avg 2 bucks now it seems its around 1-1.50
[09:51:54] <Bambam-77> tf is a good alternat
[09:52:02] <Bambam-77> similar paterns
[09:52:40] <zr1trader> yeah tf gc cl are favorite :)
[09:52:40] <@wrbtrader> Brent Oil and WTI CL futures were hot in their price action down movement between 0215am - 0845am est...
[09:52:52] <@wrbtrader> Low volatility ever since
[09:53:13] <@wrbtrader> It may be done for the day :(
[09:53:29] <Bambam-77> in trending market be lucky to get a 20 tick retrace
[09:53:46] <@wrbtrader> Yet, there's still the 1030am est EIA Petroleum Status report...that may shake up the volatility in the markets (hopefully)
[09:54:04] <Bambam-77> avg is less than 10 t
[09:54:48] <zr1trader> NG in chop mode so far today.
[09:55:19] <@wrbtrader> WRB Analysis -> - Chat room for day traders, swing traders, position traders using concepts from WRB Analysis (volatility contraction, WRB, WRB Hidden GAP, WRB Zone) to help improve the performance of their understanding of the price action and/or their trade signal strategies. WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... =119&t=718
[09:56:48] <zr1trader> NQ wrb hidden gap 8:30 -8:40 cst
[09:58:18] <Bambam-77> nice to see group again been away from mirc for a while
[10:02:08] <canaandog> short GC 1675.6; flat 1675.5 = +1t
[10:03:30] <zr1trader> Long gc 1676.2 2 contracts
[10:04:22] <zr1trader> wrb pt1 reached
[10:07:19] <zr1trader> exit all +1 tick
[10:12:04] <@wrbtrader> Long Light Crude Oil CL @ 95.65 -> large size
[10:12:17] <@wrbtrader> 6 contracts
[10:14:18] <@wrbtrader> WRB pt1 reached
[10:15:04] <@wrbtrader> Exited all Light Crude Oil CL Long @ 95.73 --> + 0.08
[10:15:41] <Bambam-77> pos trgt 84 area then 96.04
[10:16:00] <Bambam-77> back in contraction again pita
[10:16:49] <Bambam-77> wtg
[10:16:54] <@wrbtrader> I would like Oil CL futures to retest the R area of the WRB Hidden GAP @ 1004am - 1006am est @ 95.62
[10:17:20] <@wrbtrader> hopefully a re-entry price action will appear at/near that R area
[10:18:19] <Bambam-77> b 65
[10:19:10] <Bambam-77> perrfect rtrc entry
[10:20:28] <Bambam-77> if mrkt trending good entrys at 10 t
[10:21:27] <@wrbtrader> more volatility contraction in key markets
[10:21:35] <Bambam-77> from swing hi
[10:22:51] <@wrbtrader> Long Light Crude Oil CL @ 95.70 -> medium size
[10:23:02] <@wrbtrader> 4 contracts
[10:23:14] <@wrbtrader> don't think I'm going to get that re-entry price
[10:24:16] <@wrbtrader> tighten stop loss
[10:24:18] <Bambam-77> lets see if we can nail 84 and 04
[10:25:00] <@wrbtrader> increasing contraction in the volatility :(
[10:25:25] <@wrbtrader> Emini futures looking better
[10:26:03] <Bambam-77> :( feeling it minipulation at its finest
[10:26:24] <@wrbtrader> WRB pt1 (shallow) reached
[10:26:37] <Bambam-77> love computer trading
[10:26:46] <db887> def better today
[10:26:52] <@wrbtrader> Exited all Light Crude Oil CL Long @ 95.77 --> + 0.07
[10:28:37] <zr1trader> INventories 30 sec
[10:30:23] <@wrbtrader> we're basically just trading the "scraps" or "leftovers" from the big price movements that occur in the overnight trading session :)
[10:30:42] <Bambam-77> y
[10:31:46] <@wrbtrader> Emini NQ futures looks like its stuck in mud
[10:33:06] <Bambam-77> 84 come on
[10:33:55] <@wrbtrader> Forex EurUsd in a low volatility tight trading range
[10:34:18] <@wrbtrader> since the north american markets regular session start
[10:35:09] <Bambam-77> sweet
[10:35:41] <Bambam-77> trgt hit
[10:42:33] <@wrbtrader> nice movement in Brent Oil futures and Light Crude Oil CL futures
[10:43:00] <@wrbtrader> looks like I picked a bad time to switch over to the Emini futures :(
[10:43:04] <@wrbtrader> nothing there so far
[10:48:56] <Bambam-77> tf in uptrend above 902.4
[10:49:37] <@wrbtrader> volatility trying hard to increase in Emini ES futures
[10:50:24] <Bambam-77> es long above 02.75
[10:50:58] <@wrbtrader> I gave a warning yesterday about today's lackluster volatility
[10:51:08] <@wrbtrader> in the Emini futures
[10:51:23] <Bambam-77> es wants 1509
[10:51:41] <@wrbtrader> increasing volatility in EuroFX 6E futures...
[10:51:49] <@wrbtrader> other key markets trying to wake up
[10:53:32] <@wrbtrader> Oil CL futures still in an active Creeper Up Movement
[10:55:03] <Donnin__> are there at least 1 trade a day on es with wrbs?
[10:55:12] <Donnin__> and wrbhg
[10:55:33] <@wrbtrader> not sure what you meant by that question
[10:55:54] <@wrbtrader> I see WRBs, WRB Hidden GAPs and WRB Zones multiple times every trading day
[10:56:08] <@wrbtrader> trade signals is a completely different (independent) issue
[10:56:30] <@wrbtrader> For example, you can have 50 WRB Hidden GAPs but only 1 trade signal :)
[10:57:10] <@wrbtrader> WRB Hidden GAPs are like "alerts" that something could setup
[10:57:25] <Donnin__> ah i see
[10:58:02] <@wrbtrader> If your going to trade Emini ES...
[10:58:29] <@wrbtrader> You better be watching the SPY at the exact same time because WRBs and WRB Hidden GAPs show up better in SPY than Emini ES
[10:58:55] <@wrbtrader> Therefore, you will then use SPY to trigger trades in the Emini ES
[10:59:28] <Donnin__> intresting
[10:59:46] <@wrbtrader> Emini ES just contracts too much in comparison to the other Emini futures
[11:00:02] <zr1trader> Short zw 749.50 2 contracts
[11:00:02] <@wrbtrader> that's primarily because its heavily arb
[11:00:57] <@wrbtrader> On the flip side, if you have the account to trade very large positions...
[11:01:17] <Donnin__> so large size high prob setups
[11:01:20] <@wrbtrader> You want to be trading Emini ES futures to move that type of size fairly easily and quickly
[11:01:42] <@wrbtrader> No
[11:01:52] <@wrbtrader> just a liquidity issue for large size traders
[11:01:55] <zr1trader> exit +1 tick entry error.
[11:02:04] <Donnin__> yes
[11:02:15] <@wrbtrader> For example, if I'm going to trade 100 contracts...
[11:02:24] <@wrbtrader> I won't be trading Emini TF futures...
[11:02:32] <Donnin__> ha
[11:02:38] <@wrbtrader> I'll be trading Emini ES futures regardless to the probability of the trade
[11:03:35] <Bambam-77> just know its run by huge computers that can churn ticks
[11:04:19] <@wrbtrader> Long Emini TF @ 904.60 -> small size
[11:04:28] <@wrbtrader> 2 contracts
[11:05:12] <Donnin__> yeah its annoying to sit thur and watch
[11:06:44] <@wrbtrader> stage is set for increasing volatility in the Emini futures...
[11:06:56] <@wrbtrader> its trying hard but so far, very little
[11:07:07] <@wrbtrader> I won't hang around too long in this trade
[11:07:19] <@wrbtrader> I have very little patience today for some reason
[11:08:17] <@wrbtrader> soon it'll be time to go out for sushi for lunch
[11:10:49] <@wrbtrader> WRB pt1 (shallow) reached :(
[11:11:13] <Bambam-77> looks like gap fill for tf to yesterdays close area
[11:11:20] <@wrbtrader> Exited all Emini TF Long @ 905.30 --> + 0.7
[11:11:41] <MattR_> wrbtrader, is there a definition of "shallow" WRB pt? Is it less than 1 point?
[11:11:59] <Bambam-77> 906.0 to 906.5 area
[11:14:18] <Bambam-77> 96.64 doable as posted in am
[11:17:38] <@wrbtrader> shallow = small profit than expected in whatever price action you normally trade
[11:17:56] <MattR_> ah, ok. Thanks.
[11:18:08] <@wrbtrader> This type of price action I would have expected (use to seeing) around a +1.5 for a WRB pt1
[11:18:24] <@wrbtrader> instead, a WRB pt1 appeared @ +0.6
[11:18:32] <@wrbtrader> I was able to get +0.7
[11:18:52] <@wrbtrader> Normally, if I've already reached my profit goal for the day...
[11:19:02] <@wrbtrader> I would have held that trade into a WRB pt2
[11:19:19] <@wrbtrader> 906.50 was a WRB pt2
[11:22:06] <@wrbtrader> By the way, that trade put me over my profit goal for the day.
[11:22:18] <MattR_> :-)
[11:22:43] <@wrbtrader> Therefore, all trades for the remainder of the day...I go for big targets (not WRB pt1)
[11:22:58] <MattR_> I'm still kicking myself for not taking the bullish hammer in CL at the moment I sat down.
[11:23:02] <MattR_> I wasn't ready for a trade yet though.
[11:24:08] <MattR_> I went back and forth and by the time I was ready, the opportunity was gone.
[11:25:00] <@wrbtrader> Yeah, I got caught switching from my Oil futures charts to the Emini futures charts after my last Oil trade...
[11:25:19] <@wrbtrader> I thought Oil would volatility contract and Eminis would start increasing volatility
[11:25:34] <@wrbtrader> then a nice movement showed up in Oil and I just watched it from the sidelines
[11:25:50] <MattR_> hah, the sidelines has been my day so far.
[11:26:02] <MattR_> oh well. There will be more opportunities.
[11:50:53] <Bambam-77> wtg tf traders trgt area hit
[12:00:22] <Bambam-77> pt1 is ?
[12:14:55] <zr1trader> Thanks for the explanation of when you go for pt1 and pt2 Mark. Seems logical.
[12:19:18] <zr1trader> I came here with the primary intent to learn and improve trade management and have already learned a lot from this room.
[13:21:48] <canaandog> long CL 96.69; flat 96.70 = +1t
[13:25:25] <Bambam-77> 71 is pivot short
[13:26:33] <Bambam-77> below long above
[13:48:33] <Bambam-77> slow bleed
[13:51:25] <Bambam-77> pit close in 40 min
[13:51:30] <Bambam-77> cl
[15:42:05] <MattR_> Apparently today is the day that I keep myself too distracted to see any of the signals that are right in front of me. I'm outta here. See you all tomorrow.
[15:55:37] <@wrbtrader> Long Emini TF @ 909.40 -> large size
[15:55:48] <@wrbtrader> 6 contracts
[15:58:24] <@wrbtrader> Exited all Emini TF Long @ 909.60 --> + 0.2
[15:58:37] <@wrbtrader> just a few more ticks :(
[15:58:47] <@wrbtrader> trail stop pick pocketed :(
[16:02:44] <@wrbtrader> looks like I missed all the late action Up movement
[16:02:58] <@wrbtrader> a few good looking trade opportunities in there
[16:03:11] <@wrbtrader> Take care and see all tomorrow
[16:03:20] * wrbtrader is now known as wrbtrader_away
Session Close: Wed Feb 06 18:18:40 2013

-------------------------

##TheStrategyLab (located on the Freenode IRC network) is free and is a serious professional trading chat room involving WRB Analysis in which any trader (position trading, swing trading, day trading) can use the chat room to post their trades or commentaries about stocks, futures, exchange traded funds or forex currencies. Simply, you don't need to be a client of TheStrategyLab.com to use the chat room nor do you need to be a price action only trader (no indicators) because some members use indicators while others do not. Yet, the only requirement is that you want to learn WRB Analysis.

Therefore, we welcome all traders that want to learn about WRB Analysis regardless if they are beginners or experience

The purpose of ##TheStrategyLab is that it's designed to be a trade journal for documentation purposes only so that members can have a time stamp archive of trades and market commentaries of each trading day so that they can better understand their broker statements from one trade to the next trade when they review their performance numbers on any given trading day.

Further, members are not obligated to educate nor help other members but members are encourage to ask questions about any trades or market commentaries that's posted by others because sometimes the answers contains useful trading tips.

In addition, our primary job in the free chat room is to moderate the room (keep the peace) because with so many members using different trade signal methods along with different opinions about the market...debates or arguments can easily flare up without moderating. In addition, our presence in the chat room is to ensure it's a spam free chat room during trading although these archived chat logs may contain advertisements for guest visitors.

Commonly discussed trading instruments from stocks, futures, exchange traded funds and forex currencies:

Image CME Emini Futures EMD, ES and NQ

Image ICE Emini TF Futures (formerly CME ER2)

Image CBOT mini-sized Dow Futures YM

Image Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Image Eurex Fixed Income Derivatives (futures) BUND, BOBL and Schatz

Image Euronext Futures FTSE-100 and CAC-40

Image CME Futures EuroFX 6E and EC

Image Treasury Futures T-Notes ZT, ZN, ZF and T-Bonds ZB

Image Forex Currencies Gbp/Usd, Eur/Usd, Eur/Yen and Usd/Cad

Image Exchange Traded Funds VXX, DIA, IWM, QQQ, SPY, BGU, FAS, FAZ, TNA, OIH, XLE and GLD

Image NYMEX Energy Futures Light Crude Oil CL, Brent Crude Oil BRN, e-miNY QM and Natural Gas NG

Image COMEX Metal Futures Gold GC, mini-Gold YG, Copper HG and Silver SI

Image S&P CNX NIFTY Futures

Image Hang Seng Index Futures HSI and mini-Hang Seng MHI

Also, to prevent the usual mix-up about our different chat rooms, most of our fee-base clients do not use chat rooms just like most retail traders do not use chat rooms. Yet, the few clients that do use chat rooms, our fee-base clients are discussing market analysis or price action only trade signals via concepts from our strategies in the private chat rooms called ##VolatilityTradingTSL or ##WRB_Analysis and they're not allowed to do such in ##TheStrategyLab.

Reminder, our Terms of Use (TOU) Policy is a must read to prevent any misunderstandings along with revealing that ##TheStrategyLab is a serious professional trading chat room and we expect members to act professional. Also, these logs may have been edited (rarely) to remove any messages that a member has complained to me via private message that they consider a particular commentary to be inappropriate, offending or too far in the off topic area that's a distraction when the commentary was posted.

Note: chat logs saved (timestamp) from Québec, Canada in eastern daylight time

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/wide range bar analysis)
Price Action Trading
Image@ http://twitter.com/wrbtrader or http://stocktwits.com/wrbtrader

Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
intradaystrategies@yahoo.com
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


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