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 Post subject: January 29th Thursday - Futures, Forex, Stocks and ETFs
 Post Posted: Sat Jan 31, 2015 12:45 pm 
Trader / Forum Admin

Joined: Tue Dec 16, 2008 1:02 am
Posts: 2620
Location: Canada
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

##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, WRBs, WRB Hidden GAPs, WRB Zone, WRB/WRB Hidden GAP profit targets, Key Market Events, Reaction Highs/Lows, Expanding Volatility, WRB Zone, R area of WRB Zone, S area of 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 chat room is is primarily designed for you to use as a trade journal of your WRB Analysis or real-time trades with time stamp archive....giving you a better understanding of your broker statements from one trade to the next trade when you review your 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 to correlate with your broker statements. Therefore, the usefulness of ##TheStrategyLab chat room is determined via your participation in the chat room.

Also, ##TheStrategyLab chat room is not designed to be educational. Simply, members using the chat room are not there to teach you how to trade and you will not see me discussing the reasons (strategies) behind my trades within ##TheStrategyLab chat room because those reasons (strategies) are only discussed with fee-base clients in a different chat room. Yet, if you want ##TheStrategyLab chat room to be educational or more active in discussing whatever it is that you're trading, we highly recommend that you ask trading related questions about your own trading instead of lurking (not saying anything) because your primary purpose is to improve your trading if you're a struggling trader. Therefore, don't join ##TheStrategyLab and then be silent. To be silent while using ##TheStrategyLab chat room, you'll be wasting a collaboration opportunity for improving your trading and doing such will make ##TheStrategyLab chat room useless to you.

The chat room is only for traders learning or applying concepts of WRB Analysis. In addition, traders that use ##TheStrategyLab are required to post either one WRB Analysis price action commentary involving any key concept from the free study guide, 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 to the chat room participation rule involves those traders that are actively posting elsewhere at TheStrategyLab.com (e.g. DOKs at their support forum in the public area or within their private threads)...these traders are then allowed to not participate in the chat room if that's what they prefer to do instead of asking for help with real-time WRB Analysis.

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 qualify for access to our free ##TheStrategyLab chat room that's located on the Freenode IRC network...please follow the instructions at the TSL Support Forum @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

012915-Key-Price-Action-Markets.png [ 1.04 MiB | Viewed 220 times ]

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

Session Start: Thu Jan 29 09:28:50 2015
Session Ident: ##TheStrategyLab
[09:28:50] * Now talking in ##TheStrategyLab
[09:28:50] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[09:31:08] * Tigerman__ (~Tigerman@host72-97-dynamic.117-80-r.retail.telecomitalia.it) has joined ##TheStrategyLab
[09:38:59] <wrbtrader> Shorts Emini ES @ 1994.50 -> large size
[09:39:57] <wrbtrader> I'm looking for a regular session gap fill
[09:40:08] <wrbtrader> That's my profit target
[09:40:36] * Syzygy_____ (~Syzygy@h69-131-227-232.slkmwa.dsl.dynamic.tds.net) has joined ##TheStrategyLab
[09:40:48] <wrbtrader> Emini TF futures gap fill
[09:43:26] <wrbtrader> Covered 1/2 Emini ES Short @ 1991.00 --> + 3.5
[09:43:37] <Tigerman__> gm all
[09:47:13] <wrbtrader> WRB pt2 reached
[09:47:50] <wrbtrader> Covered Emini ES Short @ 1986.00 --> + 8.5
[09:47:53] * mtntrader (~mtntrader@ has joined ##TheStrategyLab
[09:47:58] <wrbtrader> Holding 5 contract remainders
[09:48:03] <Tigerman__> obviously is a short market right now
[09:48:16] <Tigerman__> I ve done some fast short trades
[09:48:36] <Tigerman__> simply I need to be more relaxed and wait for a bigger target
[09:49:06] <Tigerman__> I tend to became to emotional driven when markets moves
[09:49:18] <wrbtrader> To do that you ALSO need to know (take a good guess) when you expect volatility to show up
[09:49:32] <wrbtrader> 1) We know FOMC day was yesterday
[09:49:42] <wrbtrader> 2) We know today has some key KMEs
[09:50:07] <wrbtrader> 3) We know its a downtrend on the regular session chart
[09:50:20] <Tigerman__> yes agreed on all above
[09:50:25] <wrbtrader> Key ingredients for a volatility morning
[09:50:46] <Tigerman__> infact volatility show up faST AY OPEN
[09:50:53] <wrbtrader> Without that info...I would have dumped this trade +1 to +2 points
[09:51:22] <Tigerman__> yeh right good tip
[09:51:59] <Tigerman__> infact I get the short right but not able to hang on and stay calm when price goes up/down
[09:52:29] <Tigerman__> expecially when big money are on table (big x me :) )
[09:52:35] <wrbtrader> Covered Remainder Emini ES Short @ 1988.00 --> + 6.5
[09:52:46] <wrbtrader> trail pick pocketed :(
[09:55:11] <Tigerman__> my first short was near 9:40 am ES at 1993.50
[09:56:13] <Tigerman__> simply done more fast short instead hang on on and take that nice wrb pt1 at 9:48
[09:56:37] <Tigerman__> anyway I m improving on this
[09:59:50] <wrbtrader> Eminis retracing back to the range of the 0830am KME price action
[10:00:46] <wrbtrader> Emini TF futures retested the S area of its most recent Down WRB HG on the 3min chart
[10:01:08] <wrbtrader> 100am est KME right now
[10:01:15] <wrbtrader> 1000am
[10:04:44] * Racer_X____ (~Racer_X@LTVLPQ0403W-LP140-04-1279494384.dsl.bell.ca) has joined ##TheStrategyLab
[10:10:59] <wrbtrader> Shorts Emini ES @ 1993.00 -> large size
[10:11:17] <wrbtrader> 10 contracts...prior trade 20 contracts
[10:12:01] <wrbtrader> lower size on this trade because I see too many intervals within the range of the 0957am est Up WRB HG
[10:13:04] <wrbtrader> Covered all Emini ES Short @ 1992.50 --> + 0.5
[10:13:36] <wrbtrader> chopping around that range too much...long shadow interval with small body spooked me out of the trade
[10:14:29] <wrbtrader> I'm going to wait to see if ES can retest the S area of the mentioned Up WRB HG
[10:14:57] <wrbtrader> @ 1990.25
[10:15:45] <wrbtrader> Shorts Emini ES @ 1990.00 -> large size
[10:15:57] <wrbtrader> 10 contracts
[10:16:28] <wrbtrader> back inside the range of the mentioned WRB HG :(
[10:17:06] <wrbtrader> Covered all Emini ES Short @ 1991.50 --> - 1.5
[10:17:39] <wrbtrader> more intervals accumulating inside the range of that mentioned Up WRB HG interval
[10:18:33] <wrbtrader> R area @ 1994.75 and S area @ 1990.25
[10:18:36] <wrbtrader> 4.50 range
[10:23:12] <wrbtrader> Shorts Emini ES @ 1191.00 -> large size
[10:23:30] <wrbtrader> intuition trade
[10:25:22] <wrbtrader> Covered all Emini ES Short @ 1990.75 --> - 799.75
[10:25:35] <Tigerman__> hi wrbtrader about that WRB HG you mentioned before..
[10:25:47] <wrbtrader> entry incorrect
[10:25:57] <wrbtrader> +0.25
[10:26:12] <Tigerman__> that R and S are correct on 2 my data vendor and wrong on the newer one :(
[10:26:49] <wrbtrader> call your data source and tell them that
[10:26:58] <wrbtrader> :)
[10:27:12] <Tigerman__> in last one open is 1990.5 and colse 1995
[10:27:42] <Tigerman__> yeah but after that they answer their data are the best in the world :)
[10:27:58] <Tigerman__> unless I use some wrong settings
[10:27:59] <wrbtrader> Only 3 companies can say that...
[10:28:06] <wrbtrader> Reuters, Bloomberg and CQG
[10:28:16] <Tigerman__> btw this new vendor is tradestation
[10:28:39] <Tigerman__> e-signal and IB data are same as you
[10:28:56] <wrbtrader> If you're looking for the best...gotta cough up the money for such
[10:29:16] <wrbtrader> Everybody else got strange "data collection" methods :(
[10:29:23] <Tigerman__> seems you use also TS some you too have this issue
[10:29:38] <wrbtrader> Not an issue for me
[10:29:53] <wrbtrader> I already know nobody is perfect with there data
[10:30:05] <wrbtrader> Thus, my expectations aren't as high as yours
[10:30:09] <Tigerman__> not issue intend simply you too maybe have that data different vs others
[10:30:17] <wrbtrader> Therefore, it doesn't bother me...thus, no issue
[10:30:27] <Tigerman__> yep right :)
[10:30:35] <Tigerman__> I used CQG in the past
[10:30:43] <wrbtrader> Yet, if I get no data (it happens)...then that would bother me.
[10:31:23] <Tigerman__> the issue is with CQG was programs one use to visualize data on screen
[10:31:31] <wrbtrader> I won't go back to CQG or Bloomberg until I'm in an office space that has a dedicated fiber optic line.
[10:31:46] <wrbtrader> I don't want to pay that much again while "sharing" bandwidth with others
[10:32:15] <Tigerman__> simply CQG data can be good but chart program can be wrong occurs that with CQG and my Multichart :(
[10:32:54] <wrbtrader> more intervals accumulating within the range of that Up WRB Hidden GAP interval :(
[10:33:03] <Tigerman__> anyway most of the time are small differencies
[10:33:48] <wrbtrader> Shorts Emini ES @ 1991.75 -> large size
[10:33:58] <wrbtrader> 10 contracts
[10:34:00] <wrbtrader> re-entry
[10:34:04] <Tigerman__> simply I m a perfectionist maybe too much :)
[10:34:40] <Tigerman__> yeah many intervals inside that up WRB HG
[10:35:09] * Netang__ (~Netang@cpe-142-255-118-205.nyc.res.rr.com) has joined ##TheStrategyLab
[10:35:15] <Tigerman__> I was lost many times in situation like that I now prefer a better move outside that ranges
[10:35:23] <wrbtrader> Covered all Emini ES Short @ 1989.50 --> + 2.25
[10:36:00] <wrbtrader> WRB pt1 reached just below the S area of that mentioned Up WRB Hidden GAP interval that's been a magnet on the price action
[10:38:17] <wrbtrader> I waited for a better entry on another signal...price action didn't retrace to give me one :(
[10:38:25] <wrbtrader> sideline...will just watch
[10:38:47] <Tigerman__> wrbtrader when you using a regular chart in 1 or 2 minute expeciialy in first minutes of market open do you experience data compression in vertical way ? I mean because the strong trend from yesterday chart visualize many interval and all pictures show intervals small in vertical size
[10:39:11] <wrbtrader> data compression ?
[10:39:17] <Tigerman__> the issue is not present in all session of course
[10:39:59] <wrbtrader> Ahh...ok...I think I understand
[10:40:32] <wrbtrader> You're talking about the "scale" of the charts changing when new data is added...
[10:40:36] <Tigerman__> compression is not correct term in reality, I mean interval are pushed small because chart show big levels due to big move from yesterday
[10:40:49] <Tigerman__> yeah the vertical scale
[10:41:24] <wrbtrader> Thus, a big WRB HG interval right now could "look" (visualize) smaller tomorrow because the new data has been trending and changed the scale of the chart for the past.
[10:41:46] <wrbtrader> That' happens all the time...
[10:41:49] <Tigerman__> in all session or if one use only few intervals back, that thing is not there
[10:42:05] <Tigerman__> yeah exacltly
[10:42:05] <wrbtrader> I use to talk about this "visual problem" A LOT at Elitetrader.com
[10:42:27] <wrbtrader> That's the problem with hindsight analysis when traders post charts at the forum.
[10:42:31] <wrbtrader> any forum
[10:42:38] <Tigerman__> it is incredible how that change our preception of things
[10:42:50] <wrbtrader> Charts we post right now really didn't look like that at the time of our trade signal
[10:43:08] <wrbtrader> Its that "data compression" issue you notice
[10:43:19] <Tigerman__> exactly
[10:43:46] <wrbtrader> Its very common to see but something we need to be concerned about when viewing "past" data on today's hindsight charts
[10:43:59] <Tigerman__> when I set up my new templates this year I wonder if which of this 2 option is better :
[10:44:35] <Tigerman__> 1) use a chart bigger in vertical axis or..
[10:44:57] <wrbtrader> I experimented with option 1 you just mention
[10:45:06] <wrbtrader> I just couldn't get comfortable with it
[10:45:22] <Tigerman__> 2) use a chart smaller in vertical axix more compressed and have it bigger on horrizontal to capture more past intervals
[10:46:14] <Tigerman__> ok so you prefer bigger in horizontal axis I use thi one right now
[10:46:26] <Tigerman__> this one
[10:52:40] <wrbtrader> I don't prefer bigger
[10:53:05] <wrbtrader> I just prefer to leave it the way it is...its just a "visual" problem that I've learned to live with
[10:53:21] <wrbtrader> You know the saying...
[10:53:39] <wrbtrader> Charts look pretty in hindsight but a different story in real-time :)
[10:54:34] <Tigerman__> yeah not only that but x example when I switch from chart and focus on dome or matrix as others call it...
[10:55:16] <Tigerman__> I mean when I put my orders that swing up down makes me too emotive because I see move price fast
[10:55:53] <Tigerman__> in contrast in chart seems move a bit slowly
[11:00:49] <wrbtrader> As you know...I'm a big believer that the way we setup our charts on our monitors has a big impact on how we view the price action for trading
[11:01:14] <wrbtrader> especially in real-time
[11:01:58] <wrbtrader> Its well documented by psychologist that put images on a screen at different locations on that screen...
[11:02:24] <wrbtrader> Our perception changes abouot the image as its located in different areas on the same screen
[11:02:40] <wrbtrader> very interesting to known
[11:03:03] <Tigerman__> yeah agreed
[11:03:10] <Volker> wrbtrader - this is called 'framing'
[11:03:21] <wrbtrader> some folks read images from center to outwards, others from right to left, others from top to bottom and others from left to right...
[11:03:27] <wrbtrader> Everybody is diffeerent
[11:04:12] <Tigerman__> what I need now is a BIG order entry TOOL
[11:04:35] <Tigerman__> I mean is painful click too much everyday
[11:05:05] <wrbtrader> Shorts Emini ES @ 1985.50 -> large size
[11:05:08] <Tigerman__> I think to build someting to be used via our feet
[11:06:03] <wrbtrader> 15 contracts..two entries 5+10
[11:06:44] <wrbtrader> :(
[11:06:54] <wrbtrader> strange chop right now...making me nervous
[11:08:37] <wrbtrader> Covered 1/3 Emini ES Short @ 1984.00 --> + 1.5
[11:08:59] <wrbtrader> Covered Remainder Emini ES Short @ 1985.25 --> + 0.25
[11:09:12] <wrbtrader> pick pocketed
[11:09:39] <wrbtrader> not much to complain...the chop gave me a warning along with a long shadow interval to start dumping
[11:38:22] <wrbtrader> Long Emini ES @ 1992.50 -> large size
[11:38:45] <wrbtrader> 10 contracts
[11:39:17] <wrbtrader> no fill @ 1191.00 and again @ 1990.75 and again @ 1991.50 :(
[11:40:25] <wrbtrader> almost gave up on it...needed a fill before 1993.00
[11:44:19] <wrbtrader> Exited all Emini ES Long @ 1992.75 --> + 0.25
[11:44:51] <wrbtrader> gave that one a lot of breathing room for volatility to show up after my entry...didn't happen :(
[12:37:04] * Syzygy_____ (~Syzygy@ has joined ##TheStrategyLab
[12:46:07] * Lightenup (~Lightenup@ has joined ##TheStrategyLab
[13:54:56] * Trader_Uy (~traderuyt@r167-60-5-25.dialup.adsl.anteldata.net.uy) has joined ##TheStrategyLab
[14:17:18] <wrbtrader> Long Emini ES @ 2004.00 -> small size
[14:17:29] <wrbtrader> 5 contracts
[14:19:47] <wrbtrader> Exited all Emini ES Long @ 2002.50 --> - 1.5
[14:20:33] <wrbtrader> Long Emini ES @ 2003.50 -> large size
[14:20:42] <wrbtrader> re-entry
[14:24:29] <wrbtrader> WRB pt1 reached but the goal is a WRB pt2
[14:25:51] <wrbtrader> Exited all Emini ES Long @ 2006.75 --> + 3.25
[14:26:01] <wrbtrader> WRB pt2 reached
[14:29:13] <wrbtrader> I missed a big move after I left (12noon est)...always feels like there's not much left in the trend whenever I return after missing such a big price movement
[14:33:15] <Tigerman__> usually markets move when we are off
[14:35:23] <wrbtrader> Lets put it this way, I had a choice to go pick up my custom aquarium filter at 12noon or 2pm est.
[14:35:49] <wrbtrader> I didn't think anything would happen at mid-day so I selected 12noon est :(
[14:36:34] <Tigerman__> anyway it is a better decision left at noon usually markets are flat
[14:36:47] <Tigerman__> sometimes moves
[14:38:29] * Retrieving ##TheStrategyLab modes...
[14:41:20] <wrbtrader> Shorts Emini ES @ 2008.25 -> large size
[14:41:48] <wrbtrader> trailing this one tight
[14:42:28] <wrbtrader> :(
[14:42:44] <wrbtrader> shallow WRB pt1 reached
[14:44:27] <wrbtrader> stalling
[14:46:12] * mtntrader_ (~mtntrader@ has joined ##TheStrategyLab
[14:47:26] <wrbtrader> Covered all Emini ES Short @ 2006.50 --> + 1.75
[14:47:33] <wrbtrader> WRB pt2 reached
[14:49:11] <wrbtrader> That shallow WRB pt1 spooked me a little and then price action started stalling but ES struggle to stay above the S area of that WRB pt1...only reason why I didn't dump it
[15:01:43] <wrbtrader> Take care all and see all tomorrow
[15:02:57] <Tigerman__> many thanks for all wrbtrader
[15:03:06] <Tigerman__> have a nice day
[15:29:47] <Tigerman__> take care all see next time
[16:52:09] * mmm___ (~mmm@cpe-76-90-227-83.socal.res.rr.com) has joined ##TheStrategyLab
[17:08:17] * winmax200 (~androirc@ has joined ##TheStrategyLab
[19:52:37] * Disconnected
Session Close: Thu Jan 29 19:52:37 2015


##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, Usd/Cad, Xau/Usd and Xag/Usd

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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