TheStrategyLab Price Action Trading (no technical indicators)
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M.A. Perry a.k.a. wrbtrader (more info about me):
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@ http://www.thestrategylab.com/images/062620-thestrategylab-wrbtrader-chat-room-review.png Complete text chat logs below##TheStrategyLab primary purpose is for
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trade journal of
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@ http://www.thestrategylab.com/Disclaimer.htm Attachment:
012821-TheStrategyLab-Key-Markets.png [ 2.96 MiB | Viewed 154 times ]
click on the above image to view today's price action of key markets Bloomberg Markets: The Open Full Show (01/28/2021)
@ https://www.bloomberg.com/news/videos/2021-01-28/-bloomberg-the-open-full-show-01-28-2021-video [09:24:20] * Now talking in ##TheStrategyLab
[09:24:20] ##TheStrategyLab url is [http://www.thestrategylab.com]
[09:24:46] <wrbtrader> Good morning...
[09:25:08] <asuni> hi wrbtrader
[09:25:58] <wrbtrader> Been reading about the manipulation of stocks like AMC and GME by "retail traders" in chat rooms, forums and stuff like Reddit...
[09:26:30] <wrbtrader> Retail traders targeted Hedge Funds with large short positions
[09:27:25] <wrbtrader> Retail used online messaging to force out Hedge Funds into margin calls as in a big time Short Squeeze
[09:28:01] <wrbtrader> Crazy stuff...first time I've ever heard of something like that
[09:28:59] <wrbtrader> More people online during this Pandemic...not a good thing for Hedge Funds to make it known what their Short positions are because Retail Traders will use it against them
[09:31:40] <wrbtrader> Apparently the Retail Traders were lead by traders on Robinhood and Reddit
[09:38:32] <Tigerman_______>
all
[09:38:37] <asuni>
[09:38:54] <Tigerman_______> price dancing around Kme area from yesterday
[09:39:00] <Tigerman_______> in ES
[09:39:07] <Tigerman_______> Hi
[09:42:36] <wrbtrader> nice volatility spike
[09:43:15] <Tigerman_______> lg mES 3774
[09:43:33] <Tigerman_______> exit all mES @ 3790 +16[09:44:08] <Tigerman_______> I scaled out so 3790 is my last exit on partial
[09:44:23] <wrbtrader> KMEs remaining at 1000am and 1030am est
[09:44:29] <Tigerman_______> yep
[09:45:42] <Tigerman_______> wrbtrader very strong up action climbed inside Fed Kme
[09:46:00] <Tigerman_______> now above it
[09:47:40] <Tigerman_______> more then 140K contracts in last 15min ES
[09:48:33] <Tigerman_______> one of these days I want look closer to sales inside strong volumes intervals
[09:49:38] <wrbtrader> Shorts Emini ES @ 3780.50 -> small size
[09:49:40] <wrbtrader> 3 contracts
[09:49:50] <Tigerman_______> woe noe I realize my last good trade in mES not help me in recup some early loss
[09:50:05] <wrbtrader> Long Emini ES @ 3781.75 -> small size
[09:50:35] <wrbtrader> correction...-1.25 on the Short
[09:50:52] <wrbtrader> Now Long @ 3781.75
[09:52:39] <wrbtrader> Exited all Emini ES Long @ 3787.25 --> + 5.5 [09:52:49] <wrbtrader> WRB pt1 reached
[09:54:16] <wrbtrader> price action getting squirrley
[10:06:41] <wrbtrader> Shorts Emini ES @ 3794.50 -> small size
[10:06:48] <wrbtrader> 3 contracts
[10:07:00] <wrbtrader> b.s. price action again via the weird chop
[10:08:48] <wrbtrader> Covered all Emini ES Short @ 3790.75 --> + 3.75 [10:08:54] <wrbtrader> early exit
[10:09:00] <wrbtrader> not a WRB pt1
[10:09:21] <wrbtrader> bouncing all over the place...almost impossible to adjust my trail stop
[10:11:02] <wrbtrader> Long Emini ES @ 3793.50 -> small size
[10:11:07] <wrbtrader> 1 contract
[10:13:56] <wrbtrader> Emini NQ restesting the S area of the key KME WRB Zone from Jan 20th
[10:14:12] <wrbtrader> Exited Emini ES Long @ 3798.75 --> + 5.25 [10:14:28] <wrbtrader> early exit
[10:14:32] <wrbtrader> not a WRB pt1
[10:17:41] <wrbtrader> Wow...still has not reached a WRB pt1 even without me now
[10:18:13] <wrbtrader> This could have been a +10 point move without reaching a WRB pt1
[10:19:06] <wrbtrader> I had a profitable trade last year like that...+10 point profit and it was not a WRB pt1
[10:20:56] <wrbtrader> That's crazy unusual volatility and I'm not talking about the VIX
[10:21:20] <wrbtrader> I'm talking about the volatility within the Emini futures in which the VIX is not keeping up with it
[10:21:39] <Tigerman_______> yep lot of algos
[10:21:46] <wrbtrader> Exactly
[10:21:58] <Tigerman_______> simply we are inside important area
[10:22:11] <Tigerman_______> Inauguration plus Fed
[10:22:25] <Tigerman_______> lot of player add remove poistions here
[10:22:54] <wrbtrader> Also as stated earlier...retail traders on Robinhood and Reddit have been manipulating stocks (in has an impact on the Index) to cause Short Squeezes (margin calls) on Hedge Funds
[10:23:47] <Tigerman_______> problem with this vola it snaback fast
[10:24:12] <Tigerman_______> need be fast on adjust stop or avoid enter
[10:24:33] <wrbtrader> I'm still trying to wrap my mind around that fact of retail traders around the world coming together to buy bad stocks and force the price UP to cause Short Squeeze / Margin Calls againt multi million dollar / billion dollar Hedge Funds that have been Shorting the market
[10:25:09] <wrbtrader> Shorts Emini ES @ 3797.00 -> small size
[10:25:17] <wrbtrader> 3 contracts
[10:26:18] <wrbtrader> Covered all Emini ES Short @ 3796.75 --> + 0.25
[10:26:44] <wrbtrader> lucky escape
[10:26:50] <wrbtrader> trade error on the entry
[10:27:12] <wrbtrader> Short Signal @ 3799.00
[10:27:18] <wrbtrader> missed i
[10:29:10] <wrbtrader> hoping this can get back up to that price area of 3799
[10:32:36] <Tigerman_______> we are there
[10:33:54] <wrbtrader> Shorts Emini ES @ 3797.50 -> small size
[10:34:05] <wrbtrader> 3 contracts
[10:35:14] <wrbtrader> Covered all Emini ES Short @ 3798.00 --> - 0.5
[10:36:54] <wrbtrader> Shorts Emini ES @ 3798. -> small size
[10:36:57] <wrbtrader> 3 contracts
[10:37:35] <wrbtrader> volatility contracting more now
[10:43:41] <wrbtrader> Covered all Emini ES Short @ 3794.00 --> + 4 [10:43:57] <wrbtrader> trail stop hit
[10:44:25] <wrbtrader> Emini NQ back to retesting the prior S area from that key KME
[10:48:30] <wrbtrader> Long Emini ES @ 3802.00 -> small size
[10:48:38] <wrbtrader> 1 contract
[10:48:51] <wrbtrader> breakout of the R area
[10:49:03] <wrbtrader> poor entry
[10:49:15] <Tigerman_______> I ll exit my trading in minutes
[10:49:26] <Tigerman_______> I did lot of trades
[10:49:33] <wrbtrader> Exited Emini ES Long @ 3801.00 --> - 1
[10:49:58] <Tigerman_______> just to review them is lot of work
[10:51:09] <wrbtrader> trying to Short Squeeze
[10:51:38] <Tigerman_______> around 100 trades since open
[10:51:40] <wrbtrader> battle in this price area
[10:52:21] <wrbtrader> Long Emini ES @ 3801.25 -> small size
[10:52:22] <Tigerman_______> ES in first minutes
[10:52:32] <wrbtrader> 1 contract
[10:53:06] <Tigerman_______> then mES and NQ ,just because increasing vola on it
[10:53:16] <Tigerman_______> I keep separate stats
[10:53:45] <Tigerman_______> what I m interested is liquidity absorbtions on book
[10:54:01] <Tigerman_______> simply sky is not the limit
[10:54:42] <Tigerman_______> plus mES too high commissions vs $ value x tick
[10:54:45] <wrbtrader> Exited Emini ES Long @ 3802.00 --> + 0.75
[10:54:55] <wrbtrader> lucky exit again
[10:55:37] <Tigerman_______> simply I use mES just x try my ability to move inside the book
[10:55:44] <wrbtrader> could have taken that -2.50 point loss but held it because I was sure about the Short Squeeze coming
[10:57:09] <Tigerman_______> usually I get few ticks on my trades
[10:57:49] <Tigerman_______> in contrast I got + 20 points on mNQ
[10:57:54] <wrbtrader> Shorts Emini ES @ 3800.75 -> small size
[10:57:59] <Tigerman_______> in last trade
[10:58:00] <wrbtrader> 3 contracts
[10:58:32] <wrbtrader> Covered all Emini ES Short @ 3803.25 --> - 2.5
[10:59:03] <Tigerman_______> NQ slowly climb and fill Kme area
[10:59:33] <Tigerman_______> ES above it for 1hour now
[10:59:55] <Tigerman_______> regardless I m full of trading
[11:00:16] <Tigerman_______> I need a robot doing trades x me
[11:00:22] <wrbtrader> Long Emini ES @ 3803.00 -> small size
[11:00:35] <wrbtrader> 3 contracts
[11:03:18] <wrbtrader> Exited all Emini ES Long @ 3808.00 --> + 5 [11:03:37] <wrbtrader> WRB pt1 reached but held it a little longer...
[11:03:54] <wrbtrader> Thought the Short Squeeze had a little more squeezing to do
[11:06:11] <wrbtrader> Tigerman...after I read about what happen to GME and AMC yesterday involving how retail traders banded together to use their small orders to cause a Short Squeeze (margin call) on Hedge Funds heavily short in those stocks and others...
[11:06:57] <wrbtrader> It made me wonder if the same thing had been occurring in the Emini Futures via all those unusual 1 - 3 contract trades
[11:07:06] <wrbtrader> Unusual as above their norm
[11:07:51] <wrbtrader> Obviously much easier to do in stocks because to the outstanding shasres
[11:13:07] <Tigerman_______> wrbtrader yeah interesting point
[11:13:57] <Tigerman_______> honestly very difficults to say who id behind some squeeze
[11:14:19] <Tigerman_______> is a fight
[11:15:26] <Tigerman_______> I need time to investigate slaes and book pressure
[11:15:31] <Tigerman_______> sales
[11:35:11] <wrbtrader> Long Emini ES @ 3806.50 -> small size
[11:35:17] <wrbtrader> 3 contracts
[11:35:50] <wrbtrader> should have been just 1 contract
[11:37:02] <wrbtrader> Exited all Emini ES Long @ 3806.25 --> - 0.25
[11:41:33] <wrbtrader> more contraction in the volatility and its still jumping all over the place
[11:42:16] <wrbtrader> I'm now expecting a volatility spike here soon
[11:43:04] <wrbtrader> Emini NQ back to the R area of the key WRB Zone
[11:43:52] <wrbtrader> Long Emini ES @ 3805.75 -> small size
[11:44:12] <wrbtrader> Exited all Emini ES Long @ 3804.50 --> - 1.25
[11:44:28] <wrbtrader> Shorts Emini ES @ 3804.25 -> small size
[11:44:38] <wrbtrader> 3 contracts
[11:44:48] <wrbtrader> costly trade error on the prior Long
[11:45:00] <wrbtrader> wanted to go Short and not Long
[11:48:24] <wrbtrader> Covered all Emini ES Short @ 3806.00 --> - 1.75
[11:49:02] <wrbtrader>
[11:49:21] <wrbtrader> Long Emini ES @ 3808.75 -> small size
[11:49:30] <wrbtrader> 3 contracts chasing
[11:51:12] <wrbtrader> Exited all Emini ES Long @ 3810.00 --> + 1.25
[11:56:11] <wrbtrader> Long Emini ES @ 3811.00 -> small size
[11:56:16] <wrbtrader> 3 contracts intuition
[11:57:11] <wrbtrader> Exited all Emini ES Long @ 3810.00 --> - 1
[11:58:41] <wrbtrader> Long Emini ES @ 3811.25 -> small size
[11:58:56] <wrbtrader> 3 contracts re-entry
[11:58:59] <wrbtrader> intuition
[11:59:31] <wrbtrader> Exited all Emini ES Long @ 3813.00 --> + 1.75
[11:59:51] <wrbtrader> poor exit but still a WRB pt1
[12:01:37] <wrbtrader> Long Emini ES @ 3811.75 -> small size
[12:01:48] <wrbtrader> 3 contracts intuition
[12:02:03] <wrbtrader> strange volatility contraction
[12:02:15] <wrbtrader> NQ in a creeper up movement
[12:03:09] <wrbtrader> Exited all Emini ES Long @ 3815.00 --> + 3.25 [12:03:43] <wrbtrader> geeesh...it popped again on a Short Squeeze
[12:04:17] <wrbtrader> all on small contracts
[12:05:19] <wrbtrader> I still can't get out of my head what "retail traders" did to GME and AMC to cause those huge price run-ups on each trader averaging small share size
[12:05:42] <wrbtrader> Mind boggling to me when retail traders mass together like that
[12:06:52] <wrbtrader> Now imagine if hundreds of retail traders onine did the same in the Emini futures...
[12:07:03] <wrbtrader> Simply, its manipulation
[12:17:06] <Tigerman_______> take care all see next time
[12:21:28] <wrbtrader> Long Emini ES @ 3815.75 -> small size
[12:21:34] <wrbtrader> 3 contracts
[12:22:53] <wrbtrader> Exited all Emini ES Long @ 3818.00 --> + 2.25 [12:23:02] <wrbtrader> early exit
[12:23:06] <wrbtrader> not a WRB pt1
-
[14:07:20] * Now talking in ##TheStrategyLab
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http://www.thestrategylab.com/tsl/forum ... =119&t=718[15:01:24] <wrbtrader> Trying to move downn the range of a Long Lower Shadow interval
[15:02:19] <wrbtrader>
hard...retracing back up
[15:02:53] <wrbtrader> Shorts Emini ES @ 3808.50 -> small size
[15:03:01] <wrbtrader> 3 contracts
[15:03:23] <wrbtrader> choppy in this area
[15:03:51] <wrbtrader> Covered all Emini ES Short @ 3807.75 --> + 0.75
[15:04:30] <wrbtrader> Shorts Emini ES @ 3807.75 -> small size
[15:04:38] <wrbtrader> 3 contracts re-entry
[15:05:57] <wrbtrader>
[15:06:04] <wrbtrader> geeeesh
[15:07:02] <wrbtrader> Covered all Emini ES Short @ 3807.00 --> + 0.75
[15:07:13] <wrbtrader> chopping around but fast
[15:14:06] <wrbtrader> Long Emini ES @ 3808.00 -> small size
[15:14:08] <wrbtrader> 3 contracts
[15:14:51] <wrbtrader> Exited all Emini ES Long @ 3806.00 --> - 2
[15:15:16] <wrbtrader> Shorts Emini ES @ 3806.25 -> small size
[15:15:28] <wrbtrader> 3 contracts
[15:15:51] <wrbtrader> finally decided to get some volatility as it rechallenge that Long Lower Shadow interval
[15:17:40] <wrbtrader> volatility has stalled again
[15:18:22] <wrbtrader> Covered all Emini ES Short @ 3802.50 --> + 3.75 [15:18:36] <wrbtrader> bouncing around the WRB pt1
[15:18:42] <wrbtrader> decided to bail on it
[15:19:29] <wrbtrader>
\
[15:19:50] <wrbtrader> I didn't know Emini NQ was that close to retesting that key WRB Zone
[15:20:11] <wrbtrader> Had I realized that...I would have held that Short longer for a possible +10 pointer
[15:20:45] <wrbtrader> Emini NQ now retesting the R area of that key WRB Zone
[15:21:00] <wrbtrader> Its either going to bounce off it or power lower to the S area
[15:27:02] <wrbtrader> The suspense is building near this key WRB Zone by Emini NQ...
[15:27:24] <wrbtrader> Will it bounce strongly back up or drop like a rock through the WRB Zone
??
[15:27:30] <wrbtrader> Need some popcorn
[15:28:08] <wrbtrader> Shorts Emini ES @ 3799.00 -> small size
[15:28:14] <wrbtrader> 3 contracts
[15:28:24] <wrbtrader> NQ fell below the R area
[15:29:03] <wrbtrader> Covered all Emini ES Short @ 3800.50 --> - 1.5
[15:30:56] <wrbtrader> Shorts Emini ES @ 3799.25 -> medium size
[15:30:58] <wrbtrader> 5 contracts
[15:31:44] <wrbtrader> re-entry on the slowly increasing volatility
[15:32:17] <wrbtrader> Now below the S area
[15:35:12] <wrbtrader> WRB pt1 reached
[15:37:37] <wrbtrader> Covered all Emini ES Short @ 3793.50 --> + 5.75 [15:37:58] <wrbtrader> retraced back up to the WRB pt1
[15:38:02] <wrbtrader> trail stop picked
[15:49:39] <wrbtrader> Shorts Emini ES @ 3789.75 -> small size
[15:49:57] <wrbtrader> 3 contracts
[15:51:11] <wrbtrader> Covered all Emini ES Short @ 3790.75 --> - 1
[15:51:45] <wrbtrader> Long Emini ES @ 3790.75 -> small size
[15:51:53] <wrbtrader> 3 contracts
[15:53:14] <wrbtrader> Exited all Emini ES Long @ 3793.50 --> + 2.75 [15:53:32] <wrbtrader> trail stop picked
[15:53:49] <wrbtrader> Shorts Emini ES @ 3789.25 -> small size
[15:54:01] <wrbtrader> 3 contracts intuition
[15:57:05] <wrbtrader> WRB pt1 reached
[15:57:16] <wrbtrader> need to be careful with my trail stop
[15:59:59] <wrbtrader> Covered all Emini ES Short @ 3776.00 --> + 13.25 [16:02:03] <wrbtrader> Glad I didn't give up too much on the breakdown by Emini NQ through the key WRB Zone exception was a profitable Long position for +2.75 points
[16:02:16] <wrbtrader> Take care all and see all tomorrow
