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click on the above image to view today's price action of key markets Bloomberg Markets: The Open Full Show (09/03/2020)
@ https://www.bloomberg.com/news/videos/2020-09-03/-bloomberg-the-open-full-show-9-3-2020-video[09:04:34] * Now talking in ##TheStrategyLab
[09:06:14] <asuni> good morning
[09:44:29] <wrbtrader> Good morning
[09:49:26] <asuni> vix 26.78
[09:51:03] <wrbtrader> Yeah...that's good...its trying to stay above that range
[10:09:20] <wrbtrader> Shorts Emini ES @ 3546.25 -> small size
[10:09:29] <wrbtrader> 3 contracts intuition
[10:10:26] <wrbtrader> Covered all Emini ES Short @ 3546.25 --> 0
[10:13:25] <asuni> now perfectly correlated
[10:14:42] <asuni> which was your initial stop with this volatility?
[10:25:13] <wrbtrader> Intial Stop is Auto upon entry
[10:25:16] <wrbtrader> -4 points
[10:25:32] <asuni> then u move it manually?
[10:25:38] <wrbtrader> Always
[10:25:42] <asuni> k
[10:26:46] <wrbtrader> Once in awhile in a blue moon...the price action will move so fast against me upon entry...that -4 point stop loss is hit within seconds
[10:36:17] <wrbtrader> Long Emini ES @ 3526.00 -> small size
[10:36:20] <wrbtrader> 3 contracts intuition
[10:37:02] <wrbtrader> Exited all Emini ES Long @ 3524.00 --> - 2
[10:37:17] <wrbtrader> Long Emini ES @ 3526.00 -> small size
[10:37:27] <wrbtrader> 3 contracts intuition re-entry
[10:37:44] <wrbtrader> Exited all Emini ES Long @ 3524.00 --> - 2
[10:38:18] <wrbtrader> Shorts Emini ES @ 3522.50 -> small size
[10:38:27] <wrbtrader> 3 contracts
[10:39:12] <wrbtrader> should have saw that recent Long Lower Shadow intervals prior to those Long positions
[10:39:44] <wrbtrader> Covered all Emini ES Short @ 3514.50 --> + 8 [10:39:58] <wrbtrader> WRB pt1 reached
[10:48:11] <wrbtrader> Shorts Emini ES @ 3512.25 -> small size
[10:48:18] <wrbtrader> 3 contracts
[10:48:58] <wrbtrader> Covered all Emini ES Short @ 3505.50 --> + 6.75 [10:49:06] <wrbtrader> WRB pt1 reached
[10:49:54] <asuni> i thought today with this volatility u would trade large positions
[10:57:38] <wrbtrader> Too many personal distractions today here at home...not trading any size until later
[11:13:44] <wrbtrader> Shorts Emini ES @ 3487.00 -> small size
[11:13:51] <wrbtrader> 3 contracts
[11:14:23] <wrbtrader> Covered all Emini ES Short @ 3488.75 --> - 1.75
[11:15:09] <wrbtrader> Shorts Emini ES @ 3487.00 -> small size
[11:15:21] <wrbtrader> 3 contracts re-entry
[11:15:58] <wrbtrader> moving fast
[11:16:24] <asuni> some minutes ago i entered short, 2 seconds and i was +2
[11:17:20] <wrbtrader> Covered all Emini ES Short @ 3476.50 --> + 10.5 [11:17:28] <wrbtrader> WRB pt1 reached
[11:17:36] <wrbtrader> crazy fast moving price action
[11:17:44] <asuni> like some months ago
[11:18:00] <wrbtrader> Yep...its a warning too
[11:18:57] <asuni> nq -4.86%
[11:19:25] <asuni> -7% is the block level?
[11:20:24] <wrbtrader> It's suppose to be but always confusing
[11:20:40] <asuni> yes, i remember last time markets were not stopped
[11:20:53] <wrbtrader> something to do with a situation that happens prior to the -7%
[11:21:46] <asuni> today long work to cancel filled wrbhg
[11:24:28] <asuni> looking at charts, now little retracement, but is 13 points.......
[11:51:01] <wrbtrader> Shorts Emini ES @ 3487.50 -> small size
[11:51:08] <wrbtrader> 3 contracts
[11:52:17] <wrbtrader> Covered all Emini ES Short @ 3488.75 --> - 1.25
[11:54:26] <wrbtrader> Long Emini ES @ 3490.50 -> small size
[11:54:29] <wrbtrader> 3 contracts
[11:55:44] <wrbtrader> Exited all Emini ES Long @ 3489.00 --> - 1.5
[11:56:56] <wrbtrader> Shorts Emini ES @ 3486.00 -> small size
[11:57:07] <wrbtrader> 3 contracts
[11:57:58] <wrbtrader> Covered all Emini ES Short @ 3479.00 --> + 7 [11:58:03] <asuni> great entry
[11:58:12] <wrbtrader> WRB pt1 reached
[12:20:39] <asuni> volatility spike is arriving i presume
[12:25:32] <wrbtrader> It will be nice if it shows up during the lunch period
[12:25:47] <wrbtrader> especially when in a trade
[12:26:02] <asuni> ina trade in the right direction :-)
[12:35:05] <asuni> i think we'll see new lows
[13:25:59] <wrbtrader> Dow -783 points
[13:34:19] <wrbtrader> Shorts Emini ES @ 3454.00 -> small size
[13:34:27] <wrbtrader> 3 contracts
[13:35:31] <wrbtrader> Covered all Emini ES Short @ 3453.75 --> + 0.25
[13:38:42] <wrbtrader> Shorts Emini ES @ 3453.00 -> small size
[13:38:45] <wrbtrader> 3 contracts
[13:40:02] <wrbtrader> Covered all Emini ES Short @ 3449.75 --> + 3.25 [13:40:10] <wrbtrader> trail stop picked
[13:40:25] <wrbtrader> but still a WRB pt1
[13:44:20] <wrbtrader> Shorts Emini ES @ 3449.00 -> small size
[13:44:23] <wrbtrader> 3 contracts
[13:44:38] <wrbtrader> intuition re-entry
[13:45:15] <wrbtrader> Covered all Emini ES Short @ 3448.75 --> + 0.25
[13:45:21] <wrbtrader> trail stop picked
[13:46:18] <wrbtrader> back above the S area
[14:18:48] <wrbtrader> Shorts Emini ES @ 3448.25 -> small size
[14:18:53] <wrbtrader> 3 contracts
[14:19:24] <wrbtrader> Covered all Emini ES Short @ 3450.25 --> - 2
[14:19:56] <wrbtrader> Shorts Emini ES @ 3450.50 -> small size
[14:20:04] <wrbtrader> 3 contracts re-entry
[14:20:21] <wrbtrader> Covered all Emini ES Short @ 3451.25 --> - 0.75
[14:21:44] <wrbtrader> Shorts Emini ES @ 3451.25 -> small size
[14:21:50] <wrbtrader> 3 contracts re-entry
[14:22:51] <wrbtrader> Covered all Emini ES Short @ 3451.25 --> 0
[14:22:59] <wrbtrader> punks
[14:23:16] <wrbtrader> Shorts Emini ES @ 3450.50 -> small size
[14:23:24] <wrbtrader> 3 contracts re-entry
[14:24:28] <wrbtrader> something is going on with this Chop
[14:24:40] <wrbtrader> I'm now expecting a volatility spike here soon
[14:25:19] <wrbtrader> volatility contraction with fast chop typically leads to a volatility spike and/or strong directional price movement
[14:26:18] <wrbtrader> Covered all Emini ES Short @ 3449.00 --> + 1.5
[14:26:25] <wrbtrader> trail stop picked
[14:27:18] <wrbtrader> snapback Up
[14:27:26] <asuni> yes
[14:27:53] <asuni> we'll hae ve a better price
[14:32:22] <wrbtrader> no entry into this snapback UP
[14:32:38] <asuni> 1 little point
[14:37:25] <wrbtrader> contraction in the volatility
[14:37:38] <wrbtrader> R and S areas formed
[14:38:26] <wrbtrader> Long Emini ES @ 3465.00 -> large size
[14:38:29] <wrbtrader> 10 contracts
[14:39:28] <wrbtrader> Exited all Emini ES Long @ 3465.25 --> + 0.25
[14:40:19] <wrbtrader> back into that R / S area of the contracted volatility
[14:41:17] <wrbtrader> Shorts Emini ES @ 3458.25 -> large size
[14:41:22] <wrbtrader> 10 contracts
[14:41:36] <wrbtrader> small WRB pt1 reached
[14:43:34] <wrbtrader> Covered all Emini ES Short @ 3457.25 --> + 1
[14:44:16] <wrbtrader> 2 good tries at those R and S area...shaken out
[14:44:27] <asuni> 3 points in this short
[14:45:47] <asuni> closed at the open of most recent white wrbhg
[14:47:34] <asuni> i was initially short from 3462 but trail stop picked
[14:49:45] <wrbtrader> Shorts Emini ES @ 3450.00 -> small size
[14:49:52] <wrbtrader> 3 contracts
[14:50:24] <wrbtrader> Covered all Emini ES Short @ 3451.75 --> - 1.75
[14:51:07] <wrbtrader> Shorts Emini ES @ 3451.50 -> small size
[14:51:16] <wrbtrader> 3 contracts re-entry
[14:51:37] <wrbtrader> Covered all Emini ES Short @ 3453.00 --> - 1.5
[14:52:51] <wrbtrader> Shorts Emini ES @ 3450.75 -> small size
[14:52:56] <wrbtrader> 3 contracts re-entry
[14:54:10] <wrbtrader> Covered all Emini ES Short @ 3447.25 --> + 3.5 [14:54:23] <wrbtrader> trail stop picked but as a WRB pt1
[14:56:54] <wrbtrader> now it rolls over southward
[14:59:56] <wrbtrader> Shorts Emini ES @ 3441.25 -> small size
[15:00:02] <wrbtrader> 3 contracts
[15:00:21] <wrbtrader> Covered all Emini ES Short @ 3443.00 --> - 1.75
[15:00:39] <wrbtrader> Shorts Emini ES @ 3441.25 -> small size
[15:00:46] <wrbtrader> 3 contracts re-entry
[15:01:17] <wrbtrader> snapbacks have been brutal because of the chop
[15:01:45] <wrbtrader> Dow -923 points
[15:02:01] <wrbtrader> rolled the dice it will go _1000
[15:02:04] <wrbtrader> -1000
[15:02:34] <wrbtrader> consecutive intervals with Long Upper Shadow intervals
[15:05:52] <wrbtrader> now Long Lower Shadow intervals
[15:06:06] <wrbtrader> confusing price action
[15:07:13] <wrbtrader> Covered all Emini ES Short @ 3437.50 --> + 3.75 [15:07:31] <wrbtrader> trail stop picked but still a WRB pt1 reached
[15:08:56] <asuni> in 60 min chart there is a candle with a range of 80 points
[15:30:00] <wrbtrader> Shorts Emini ES @ 3429.25 -> small size
[15:30:08] <wrbtrader> 3 contracts
[15:30:44] <wrbtrader> Covered all Emini ES Short @ 3429.50 --> - 0.25
[15:32:45] <wrbtrader> Shorts Emini ES @ 3431.25 -> large size
[15:32:49] <wrbtrader> 10 contracts
[15:33:28] <wrbtrader> Covered all Emini ES Short @ 3431.00 --> + 0.25
[15:33:34] <wrbtrader> punks
[15:34:06] <wrbtrader> Shorts Emini ES @ 3431.25 -> large size
[15:34:16] <wrbtrader> 10 contracts re-entry
[15:35:11] <wrbtrader> Dow -1009
[15:35:28] <wrbtrader> Covered all Emini ES Short @ 3430.25 --> + 1
[15:35:37] <wrbtrader> trail stop picked
[15:35:42] <wrbtrader> didn't have a chance
[15:35:48] <wrbtrader> wild chop
[15:41:39] <wrbtrader> The price action was contracted...
[15:42:16] <wrbtrader> I bumped up the position size to exploit a breakout...didn't work...it just continue chopping around
[15:49:09] <wrbtrader> b.s. rollover to the south
[16:05:41] <wrbtrader> Market quickly fixed that rollover to the south
[16:05:59] <wrbtrader> Unfortunately, no trade signal to get a Long position
[16:06:23] <wrbtrader> Take care all and see all tomorrow
Session Close
-----------------------
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