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 Post subject: May 17th Friday - Futures, Forex, Stocks and ETFs
 Post Posted: Fri May 17, 2013 2:28 pm 
Trader / Forum Admin

Joined: Tue Dec 16, 2008 1:02 am
Posts: 2729
Location: Canada
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
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Business Hours: 8am - 5pm est (Mon - Fri)
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##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 trading 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.

##TheStrategyLab is primarily designed to only be a trade journal for documentation purposes 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 so that the chat room becomes your diary (journal) to correlate with trades on your broker statements.

Also, if you want ##TheStrategyLab chat room to be educational for you, ask questions instead of lurking (not participating in conversations). You can talk about anything related to price action analysis, trade execution, financial markets, economies or news impacting the markets in general.

The chat room is 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 price action 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

051713-Key-Price-Action-Markets.png [ 526.45 KiB | Viewed 80 times ]

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

Note: Trader conversations below may represent two different logs (public and private) merged together as one log.

Session Start: Fri May 17 07:00:04 2013
Session Ident: ##TheStrategyLab
[07:00:04] * Now talking in ##TheStrategyLab
[07:00:04] * 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'
[07:00:04] * Set by wrbtrader on Tue Feb 05 08:11:19
[07:00:04] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[07:32:48] <wrbtrader> Shorts Light Crude Oil CL @ 95.78 -> large size
[07:32:56] <wrbtrader> 5+1
[07:39:04] <wrbtrader> WRB pt1 reached
[07:40:24] <wrbtrader> WRB Hidden GAP (shallow) pt1 reached
[07:46:07] <wrbtrader> Covered 1/2 Light Crude Oil CL Short @ 95.61 --> + 0.17
[07:46:15] <wrbtrader> WRB pt2 reached
[07:49:41] <wrbtrader> Gold GC futures increasing volatility
[07:50:54] <wrbtrader> Covered all Light Crude Oil CL Short @ 95.59 --> + 0.19
[07:52:19] <squiggles> Do you have a rule of when you change over to the new futures contract
[07:52:27] <wrbtrader> no
[07:53:03] <wrbtrader> If I was swing trading...obvious to swing the new contract.
[07:53:26] <wrbtrader> In contrast, day trading takes care of itself.
[07:53:54] <wrbtrader> The old contract will start showing Less and Less volume, Less and Less volatility...
[07:54:13] <wrbtrader> Thus, obviously via that fact, someone would move to the new contract.
[07:56:13] <squiggles> Thanks for that. I've never compared old and new contracts side by side. Didn't realise that their price action could be significantly different.
[07:56:57] <wrbtrader> Yeah, eventually the old contract volume and volatility will begin lagging the new contract
[07:57:42] <wrbtrader> Thus, WRB Analysis will eventually become more difficult in the old contract
[07:57:59] <squiggles> So it becomes less and less attractive to trade
[07:59:02] <wrbtrader> Yes
[08:02:20] <squiggles> We are still about 4 weeks before the "M" expiry. Is that the normal sort of time when a contract starts to tail off or dies it vary all over
[08:02:36] <wrbtrader> no
[08:02:50] <squiggles> dies = does
[08:02:54] <wrbtrader> Just put the two charts next to each other...
[08:03:42] <wrbtrader> You'll see that whenever there's expiration...they tend the old contract tends to lose the volume and volatility different than another expiration period in comparison.
[08:04:04] <wrbtrader> I think it has something to do with options on the contracts and oveall market volatility
[08:04:15] <wrbtrader> oveall = overall
[08:05:18] <squiggles> Thanks for your help and explanation
[09:21:54] <canaandog> 6J taking a dive since 0910
[09:26:11] <wrbtrader> Yeah and the Japanese Yen has had a few WRB Hidden GAPs the past hour
[09:26:32] <wrbtrader> in reference to 6J futures
[09:27:54] <Trendtrader> gm all
[09:31:06] <canaandog> 6A now follows
[09:31:54] <Zr1trader> gm traders
[09:32:08] <squiggles> TF volatility
[09:32:48] <wrbtrader> Shorts Gold GC @ 1377.30 -> medium size
[09:33:02] <wrbtrader> 4 contracts
[09:35:01] <wrbtrader> Shorts Gold GC @ 1377.70 -> Add
[09:35:07] <wrbtrader> 3 added
[09:36:58] <wave_> gm all
[09:37:35] <wrbtrader> Covered Gold GC Short @ 1376.30 --> + 2.4
[09:38:10] <wrbtrader> +1.4 (not +2.4)
[09:38:15] <wrbtrader> Holding 4 contracts
[09:39:13] <wrbtrader> WRB pt1 reached
[09:39:14] <Trendtrader> Shorts Emini TF @ 989.2
[09:39:18] <Trendtrader> x2
[09:40:00] <wrbtrader> Covered Remainder Gold GC Short @ 1373.90 --> + 3.4
[09:40:20] <wave_> wd n good start
[09:40:41] <wave_> biased L but not holding ES
[09:44:35] <Trendtrader> Covered 1/2 Emini TF Short @ 987.7 --> + 1.5
[09:44:53] <wave_> they fade the gap ...
[09:45:09] <Trendtrader> stop to BE+1
[09:45:34] <Zr1trader> TF and NQ long upper shadows on 1 hour chart thus far .
[09:46:17] <wrbtrader> Light Crude Oil CL futures retraced back inside its regular session gap.
[09:46:42] <wave_> breadth _ve
[09:46:54] <wave_> sorry +ve .
[09:49:46] <Zr1trader> NG nat gas vol increase 5 min chart.
[09:50:08] <wrbtrader> wrbtrader stocktwits recent message @ http://stocktwits.com/wrbtrader/message/13634419
[09:50:12] <Trendtrader> waiting for a 2min WRB to take profits on trail... (if I can wait that long and if it shows up)
[09:51:31] <wave_> wow gold down down some mor
[09:51:34] <Zr1trader> GC vol increase 3 min
[09:51:57] <Trendtrader> stop down to above small spike up @9:50am.
[09:53:13] <Zr1trader> Some key events at 8:55 and 9:00 Central
[09:57:45] <Zr1trader> EURUSD vol inc5 min rease
[09:57:58] <Zr1trader> wur usd vol increase 5 min ****
[09:58:17] <Trendtrader> Covered Remainder Emini TF Short @ 988.8 --> + 0.4
[09:59:29] <wave_> vn TT
[10:00:07] <Zr1trader> eurusd now finding support
[10:00:27] <Zr1trader> wrb to upside 5 min
[10:06:16] <wave_> L 57 es
[10:06:59] <Zr1trader> Does anyone else have a 6j Yen gap on their chart in the past 10 min?
[10:07:50] <wave_> out tick + struggle here :(
[10:08:13] <wrbtrader> Zr1trader...I don't have a gap but I do have a big WRB Hidden GAP
[10:08:34] <wrbtrader> a lot of contracts traded in it
[10:08:46] <Zr1trader> ok, I reloaded my data and it just shows wrb HG , anyway good vol in yen
[10:09:37] <canaandog> I have one 0704-6
[10:10:06] <canaandog> oh, you meant gap gap, not hg. then, no
[10:14:24] <Zr1trader> That intrabar long upper shadow on TF 60 min chart I mentioned is now a WRB to upside.
[10:14:55] <Zr1trader> on the other hand NQ painted a long upper shadow on 60 min chart
[10:16:27] <Zr1trader> Both eminis TF and NQ tested 60 min reaction highs
[10:26:31] <wave_> Tf I tried paper tarde with 1.1 stop ..even that can be taken out if entry not right ....;(
[10:27:19] <wave_> will try 1.6 next few paper trades ..
[10:30:56] <wave_> even at high theer are buyers
[10:41:22] <wave_> missed the DT 58.5 area
[10:41:28] <wave_> on ES
[10:41:42] <Zr1trader> GC vol on 5 min
[10:58:40] <wave_> L 56 es ..
[10:58:43] <wave_> one more try
[11:06:29] <wave_> out -1.5
[12:07:51] <t4npaper> not much happening atm
[12:14:13] <t4npaper> cl moving
[12:35:04] <t4npaper> tf low vol but climbing
[12:38:25] <t4npaper> long tf 991.7
[12:41:45] <t4npaper> exit 990.7 -1
[12:51:06] <squiggles> YM, ES very range bound for last hour. Friday lunchtime
[12:52:34] <t4npaper> long gc 1364
[12:54:37] <t4npaper> exit 1364.3 +.3
[13:00:24] <t4npaper> exit error but oh well
[13:34:47] <t4npaper> long tf 991.6
[13:44:03] <t4npaper> low vol tf
[13:45:16] <t4npaper> not sure where help is supposed to come from
[13:45:24] <t4npaper> oil moving higher
[13:56:59] <t4npaper> exit 991.3 -.3
[14:34:49] <t4npaper> long tf 992.5
[14:44:13] <t4npaper> long add 993.4
[14:46:04] <t4npaper> exit 993.9
[14:47:25] <t4npaper> that pulled me out of the little hole i was in
[15:11:37] <wrbtrader> WRB Analysis -> - Your use of this chat room implies you're using concepts from WRB Analysis for price action trading to help trade either Stocks, Emini Futures (EMD, TF, ES, NQ, YM), EuroFX 6E Futures, Eurex/Euronext Futures (DAX, ESTX50, FTSE100, CAC40, BUND), Treasury Futures (ZF, ZN, ZB), Oil Futures (Brent, CL, HO, QM), Gold GC Futures, Natural Gas NG Futures, Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQ, SPY), Hang Seng HSI Futures, NIFTY Futures, Forex Currencies (GbpUsd, EurUsd, EurYen, UsdCad) and other key market price actions.
[15:12:31] <wrbtrader> Gold sinks for seventh session in a row (MarketWatch) @ http://www.marketwatch.com/story/gold-h ... =countdown
[16:01:47] <wrbtrader> Take care all, have a nice weekend...see all on Monday.
[16:01:57] <wrbtrader> I'll be doing very little trading on Monday.
[16:10:19] <canaandog> have a good weekend, everyone
Session Close: Fri May 17 18:51:16 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 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 traders in price action trading.

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 price action 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 Qu├ębec, 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
Go Back To TheStrategyLab.com Homepage

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