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 Post subject: December 18th Wednesday - Futures, Forex, Stocks and ETFs
 Post Posted: Wed Dec 18, 2013 9:55 pm 
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Joined: Tue Dec 16, 2008 1:02 am
Posts: 3326
Location: Canada
Price Action Trading (no technical indicators)
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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, WRB profit targets, Key Market Events) 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.

Quote:
The chat room is only for traders learning or applying concepts of WRB Analysis. In addition, traders that use ##TheStrategyLab are required to post at least one WRB Analysis price action commentary, one real-time trade or one general trading related commentary per day they log-in to the chat room. Yet, if the trader decides to post real-time trades (simulator or real-money)...the trades must be clear (not ambiguous) entry price/exit price and position size. Traders that consistently log-in and not post any price action commentary involving WRB Analysis or post ambiguous trades will be KICKED (removed) from the chat room. Exceptions for those that are actively posting via private messages or posting at one of our support forums.

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

Attachment:
121813-Key-Price-Action-Markets.png
121813-Key-Price-Action-Markets.png [ 512.2 KiB | Viewed 258 times ]

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

Note: Trader conversations below may represent different chat rooms (e.g. ##TheStrategyLab, ##WRB_Analysis, ##VolatilityTradingTSL) that have been merged together at the end of the trading day.

Session Start: Wed Dec 18 00:00:00 2013
Session Ident: ##TheStrategyLab
[09:14:07] * Attempting to rejoin channel ##TheStrategyLab
[09:14:13] * Rejoined channel ##TheStrategyLab
[09:14:13] * 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'
[09:14:13] * Set by wrbtrader on Tue Feb 05 08:11:19
[09:14:21] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[09:15:10] <wrbtrader> Big trading day in the markets with the key market events
[09:15:32] <wrbtrader> Most likely the last volatile trading day of the year.
[09:16:07] <wrbtrader> Hopefully I'm wrong that today will be the last volatile trading day of the year :)
[09:16:33] <TigermanTrader> gm all
[09:34:16] <wrbtrader> snab back upwards
[09:37:33] <TigermanTrader> at start was a continuation of yestaerday downtrend at the close
[09:37:49] <TigermanTrader> now seems notù
[09:37:52] <TigermanTrader> not
[09:48:24] <NDW> NQ doing opposite of TF
[09:48:59] <NDW> eminis out of sync
[09:51:52] <wrbtrader> Yep...its the worst I've seen so far in the Eminis all year
[09:52:03] <wrbtrader> Just some strange looking price action
[09:52:56] <wrbtrader> Almost as if the CME has been split into sub-exchanges
[09:52:58] <TigermanTrader> simply everypne on his own
[09:53:00] <NDW> it certainly is, very strange
[09:53:28] <TigermanTrader> or a sign something is going to happen
[09:53:41] <wrbtrader> Shorts Emini ES @ 1777.25 -> large size
[09:53:55] <wrbtrader> 20+10+5 contracts
[09:54:18] <wrbtrader> increasing volatility in the Eminis...
[09:54:38] <wrbtrader> They are insync with the volatility spike now when they weren't out of the gate
[09:56:35] <wrbtrader> Emini NQ pushing lower while ES, TF and YM maintaining their support
[09:57:19] <wrbtrader> :(\
[09:57:21] <wrbtrader> crazy
[09:57:49] <wrbtrader> maybe the better word is "scary"
[09:58:21] <TigermanTrader> flash pmi in minutes
[10:03:04] <wrbtrader> Covered Emini ES Short @ 1777.00 --> + 0.25
[10:03:48] <wrbtrader> Shorts Emini ES @ 1777.25 -> large size
[10:03:54] <wrbtrader> re-entry
[10:03:57] <TigermanTrader> scary action NQ is in another qorld
[10:04:04] <wrbtrader> 10+15 contracts
[10:04:22] <wrbtrader> stop pick pocketed on prior trade
[10:05:28] <wrbtrader> remember comments from yesterday's 4pm est rush hour traffic
[10:05:46] <wrbtrader> The prior trading day (yesterday) usually gives clues about the volatility for today...
[10:06:03] <wrbtrader> Yesterday was strange price action and it gave no clues for today.
[10:06:18] <wrbtrader> I think that's the first time that's happen to me in about 10 years
[10:07:13] <wrbtrader> Emini YM seems very usual in its stability
[10:08:03] <NDW> L TF 1 c. 1117.4 exit 1117.8 +4 ticks
[10:15:30] <wrbtrader> more volatility contraction showing up now
[10:15:56] <wrbtrader> good chance I'll get spooked out of this trade for fear of a pending volatility spike against me
[10:20:57] <wrbtrader> volatility still declining :(
[10:21:32] <wrbtrader> Oil and Gold also in contraction
[10:21:45] <wrbtrader> Market not looking so hot
[10:21:53] <wrbtrader> I'm not expecting a volatility spike here soon
[10:21:57] <t4npaper> yeah i'm a lil lost in it
[10:22:02] <wrbtrader> tighting stop
[10:24:58] <wrbtrader> geeesh
[10:25:45] <wrbtrader> Covered Emini ES Short @ 1777.00 --> + 0.25
[10:26:03] <wrbtrader> too much contraction for me
[10:26:44] <NDW> I think the exit was the right call
[10:27:01] <wrbtrader> Yeah and all the other key markets are dead too
[10:27:03] <wrbtrader> strange
[10:27:15] <NDW> waiting for FOMC annc I believe
[10:27:37] <wrbtrader> Even Euro is call since 0950am est
[10:28:24] <wrbtrader> Starting to look like that initial price drop was just the "initial orders" out of the gate
[10:28:41] <wrbtrader> Thus, what we see right now is what's really going on
[10:31:20] <NDW> true
[10:33:43] <NDW> that spike was unexpected
[10:34:55] <t4npaper> EIA Petroleum Status Report
[10:34:56] <t4npaper> 10:30 AM ET
[10:35:10] <t4npaper> it has retraced in oil
[10:39:13] <@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.
[10:54:45] <@wrbtrader> Shorts Emini ES @ 1775.00 -> large size
[10:55:17] <@wrbtrader> 10 contracts
[10:55:19] <@wrbtrader> :(
[10:55:44] <@wrbtrader> looking for a Houdinin Escape out of this trade
[10:56:16] <craigaudio> does that mean get out breakeven WRB?
[10:56:55] <@wrbtrader> Means get out with a profit after the trade error
[10:58:32] <@wrbtrader> Covered all Emini ES Short @ 1776.00 --> - 1
[10:58:45] <@wrbtrader> tough exit because its trying to setup for a Short signal
[11:06:00] <@wrbtrader> Shorts Emini ES @ 1775.75 -> large size
[11:06:14] <@wrbtrader> 25 contracts
[11:14:29] <@wrbtrader> volatility contraction
[11:15:55] <t4npaper> looks like most markets are chopping around
[11:23:32] <@wrbtrader> Crude Oil CL futures volatility increasing and spiking
[11:28:45] <@wrbtrader> Emini TF futures creeping lower
[11:37:02] <@wrbtrader> Covered Emini ES Short @ 1774.75 --> + 1
[11:37:17] <@wrbtrader> WRB pt1 reached
[11:37:41] <@wrbtrader> and a psychological draining trade
[11:38:03] <NDW> it was a grind for certain
[11:38:07] <@wrbtrader> I need to get a dart board for my office...
[11:38:21] <@wrbtrader> so that I can have something to throw at :)
[11:38:49] <TigermanTrader> I have ready my ps3
[11:38:59] <TigermanTrader> a lot of game to finish
[11:46:14] <@wrbtrader> Shorts Emini TF @ 1114.10 -> large size
[11:46:22] <@wrbtrader> 6 contracts
[11:49:17] <@wrbtrader> WRB pt1 reached
[11:49:58] <@wrbtrader> Covered 1/2 Emini TF Short @ 1113.30 --> + 0.8
[11:52:38] <@wrbtrader> Covered Remainder Emini TF Short @ 1113.00 --> + 1.1
[11:52:49] <@wrbtrader> my patience is getting thinner
[11:52:56] <craigaudio> ha
[11:53:06] <@wrbtrader> I'll be surprise today if I'm able to stay in any trades beyond a WRB pt1
[12:37:01] <@wrbtrader> Long Light Crude Oil CL @ 97.86 -> small size
[12:37:18] <@wrbtrader> 2+1 contracts
[12:41:59] <@wrbtrader> Exited 1/3 Light Crude Oil CL Long @ 97.90 --> + 0.04
[12:43:04] <@wrbtrader> Exited Remainder Light Crude Oil CL Long @ 97.93 --> + 0.07
[12:43:19] <@wrbtrader> WRB pt1 (shallow) reached
[12:44:20] <TigermanTrader> take care all see next time
[13:07:25] <t4npaper> gold volatility
[13:07:51] <@wrbtrader> Wow...huge volatility spike in Gold GC futures
[13:07:56] <craigaudio> y
[13:07:59] <@wrbtrader> price upwards
[13:10:15] <t4npaper> so minis creeping down and Gold spiked up
[13:10:18] <t4npaper> all before the fed
[13:15:11] <@wrbtrader> Shorts Emini ES @ 1767.75 -> large size
[13:15:27] <@wrbtrader> 30 contracts
[13:16:48] <@wrbtrader> volatility showed up but its already drying up
[13:17:33] <@wrbtrader> For a minute there I thought the markets got an EARLY jump on the increasing volatility before the FOMC announcement
[13:27:54] <@wrbtrader> price action getting choppy in a very tight range
[13:28:00] <@wrbtrader> not good
[13:28:27] <@wrbtrader> Covered all Emini ES Short @ 1769.00 --> - 1.25
[13:28:54] <@wrbtrader> Long Emini ES @ 1769.25 -> large size
[13:29:09] <@wrbtrader> 10+20 contracts
[13:40:45] <@wrbtrader> Exited all Emini ES Long @ 1769.25 --> 0
[13:40:52] <@wrbtrader> punks
[13:40:58] <craigaudio> gone thin
[13:41:08] <@wrbtrader> I had that order in for a long time and didn't get filled awhile ago
[13:41:29] <@wrbtrader> had to sit tight and watch it drop a few ticks "against" me and then back up
[13:56:08] <@wrbtrader> Gold GC futures crazy volatility spikes
[13:58:30] <@wrbtrader> Long Emini ES @ 1771.00 -> large size
[13:58:55] <@wrbtrader> 10 contracts
[14:00:05] <@wrbtrader> Exited all Emini ES Long @ 1772.75 --> + 1.75
[14:00:08] <craigaudio> wow rightg ahead of the announcement
[14:01:00] <@wrbtrader> Shorts Emini ES @ 1763.50 -> large size
[14:01:14] <@wrbtrader> 20+10 contracts
[14:01:54] <@wrbtrader> Covered all Emini ES Short @ 1765.50 --> - 2
[14:02:48] <@wrbtrader> Long Emini ES @ 1772.75 -> large size
[14:03:08] <@wrbtrader> 24+6 contracts
[14:03:46] <@wrbtrader> impossible to trail this :(
[14:04:33] <@wrbtrader> got a trail in
[14:04:38] <@wrbtrader> lets see what happens
[14:06:43] <@wrbtrader> Exited Emini ES Long @ 1783.25 --> + 10.5
[14:06:48] <@wrbtrader> Holding 5 contracts remainders
[14:07:04] <@wrbtrader> WRB pt1 reached (a big one)
[14:10:31] <@wrbtrader> volatility contraction showing up now
[14:11:37] <craigaudio> nice WRBtrader
[14:22:22] <@wrbtrader> That Gold GC futures volatility spike before the FOMC was a big clue this was going to have a strong reaction in the Eminis
[14:22:38] <@wrbtrader> Now that the volatility surge in the Eminis seems calm...
[14:22:57] <@wrbtrader> Just the normal looking creeper price action is taking over
[14:23:27] <@wrbtrader> hopefully I can ride these 5 contracts into the sunset (market close)
[14:24:12] <craigaudio> tried long es at 80 25 but few ticks shy
[14:25:25] <@wrbtrader> wow...that's a close miss
[14:25:49] <craigaudio> yes unfortunate
[14:26:09] <@wrbtrader> I almost added @ 1782.50
[14:26:27] <@wrbtrader> I'm still waiting for the 2nd volatility surge that usually comes with the FOMC
[14:26:37] <@wrbtrader> so far it hasn't shown its face
[14:30:28] <@wrbtrader> volatility still declining
[14:30:53] <@wrbtrader> If there was going to be a 2nd volatility spike...
[14:30:58] <@wrbtrader> Now is a good time to do it
[14:31:08] <@wrbtrader> trailing @ profit
[14:33:42] <craigaudio> wrbtrader i would say that during that news the market was untradeable but you have proved otherwise! lol
[14:34:25] <@wrbtrader> I have always traded the FOMC announcements...usually via very small time frames of 1min to tick charts
[14:35:18] <@wrbtrader> The key is to not freak out about a big loss and then freeze while it takes off (north or south)
[14:35:51] <craigaudio> ok yea
[14:36:37] <craigaudio> i prefer to wait a bit and let it settle first
[14:36:50] <craigaudio> took long on ZN for 4 ticks
[14:38:19] <@wrbtrader> Treasuries moved nicely upwards after that initial quick volatility spike downwards
[14:39:00] <@wrbtrader> Exited Remainder Emini ES Long @ 1793.25 --> + 20.5
[14:39:06] <craigaudio> nice
[14:43:07] <NDW> great trade!
[14:50:37] <craigaudio> great exit as well
[14:51:34] <craigaudio> wrbtrader what was you reason for exit?
[14:56:23] <@wrbtrader> I exited via WRB pt2 in SPY 3min chart for managing that Emini ES trade
[14:56:35] <@wrbtrader> meant 5min chart
[14:56:57] <@wrbtrader> although Emini ES had similar WRB pt2
[15:04:55] <@wrbtrader> volatility dead again...
[15:05:29] <NDW> headed to final rehab therapy for shoulder, see all tomorrow
[15:06:41] <@wrbtrader> hopefully we will get lucky and see a 3rd voaltility surge
[15:06:48] <craigaudio> yes
[15:07:16] <@wrbtrader> Long Emini TF @ 1125.30 -> large size
[15:07:25] <@wrbtrader> 6 contracts
[15:10:17] <@wrbtrader> tightning trail...doesn't look good
[15:12:06] <@wrbtrader> Exited 1/2 Emini TF Long @ 1126.50 --> + 1.2
[15:12:14] <@wrbtrader> WRB pt2 reached
[15:17:21] <craigaudio> nearly 40pts range es
[15:28:40] <@wrbtrader> Exited Remainder Emini TF Long @ 1125.70 --> + 0.4
[15:28:52] <t4npaper> well i missed the FOMC....
[15:46:50] <@wrbtrader> Long Emini ES @ 1803.75 -> large size
[15:47:02] <@wrbtrader> 15 contracts
[15:49:10] <@wrbtrader> Exited all Emini ES Long @ 1802.50 --> - 1.25
[15:49:17] <@wrbtrader> getting choppy
[15:50:06] <@wrbtrader> Shorts Emini ES @ 1801.25 -> large size
[15:50:16] <@wrbtrader> 15 contracts
[15:51:52] <@wrbtrader> Covered all Emini ES Short @ 1801.00 --> + 0.25
[15:53:32] <t4npaper> I would like to catch something since i missed so much
[15:56:40] <@wrbtrader> Long Emini ES @ 1802.00 -> large size
[15:56:53] <@wrbtrader> Creeper Up Movement still intact
[15:57:01] <@wrbtrader> 15 contrcts
[15:58:11] <@wrbtrader> WRB pt1 reached
[15:58:16] <t4npaper> i got nothin,
[15:58:21] <@wrbtrader> very choppy
[15:58:56] <@wrbtrader> could turn into the 5th volatility surge in this Creeper Up Movement since the FOMC announcement bounce
[16:00:15] <t4npaper> i'm out, seeya
[16:00:39] <@wrbtrader> Exited all Emini ES Long @ 1805.25 --> + 3.25
[16:08:23] <@wrbtrader> Take care all and see all tomorrow
[16:08:30] <craigaudio> bye
[16:08:34] <craigaudio> great trading wrb
Session Close: Wed Dec 18 17:49:31 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 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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