for NinjaTrader® – Forget Squiggly Lines!
Continuation, 1P, DT, mDT, mW, FF, bear CH, fL2, 1CHBO, 1Tail, bull CH, mDB, SC, BT
E-mini S&P 500 Future 5 min chart (trend lines, arrows and boxed text drawn by hand)
yesterday’s H1 buy triggered just before the close
today is the Entry Bar for the H1 buy
bulls could close the EB above HOY, also the highest daily close ever
Bear gap, mid range, WfBO, 1P, L2, H2, BP, fBO, mDB
The 1st bar of the day is a large RVB, but the large body (60%) gives it a taste of a large trend bar or TR/CX as well. The risk to buy on a SE above was also more than 6 points. It’s better to wait for a 2E, which came with the 1P a couple of bars later (it was also a test of the OOD).
I didn’t take the L2 short on b11 (despite the shrinking bodies – selling pressure), as I expected the market to go at least to COY. Also after a WfBO LOY I expect a fL2 and at least two pushes up from a decent 1P.
The large OO (the fL2) trapped a lot of bears, which probably tried to scale-in above the L2. We formed a bear RVB after the OO (a poss. L3 and DT with yesterday’s last swing), but that didn’t trigger short, instead it triggered long 1st, which makes it a small TR (SA and BB). More up to COY (magnet).
I also marked up a couple of bull signal bars and the targets based on the initial risk for a possible SE and a bar stop below.
E-mini S&P 500 Future 5 min chart (trend lines, arrows and boxed text drawn by hand)
daily chart
Always In Long (AIL) since 10/10
another test of 3100 and another H1 buy
some bears might see a head & shoulder top with the high of last week
Continuation, T1B, 1Tail, FF, SHS, bear CH, 1TL, fBO, mDB, DB, mDT, 1CHBO, LH MTR, BT
A lot of Buying Pressure (Buyers on the close of the prior bar) in the bear CH from the HOD/SHS. But still, need to get out, if a MTR forms. Here a LH MTR.
We formed a nice RVB right at support (daily BT level – blue circle) for a nice move into the close and a test of the OOD. It became the LOD.
E-mini S&P 500 Future 5 min chart (trend lines, arrows and boxed text drawn by hand)
daily chart
Always In Long (AIL) since 10/10
we made it to 3100, weak Entry Bar for the H1 buy
Breakout test of the swing high from last week (blue circle)
Bears see 3rd push above the Trend Channel Line (blue line)
A lot of lines and comments on today’s chart. Here is the “naked” version of it, with just the indicators applied.
Bear gap, mid range, SC, 1CHBO, H3, DB, mDB, BT
Bulls from the stop entry above the RVB at the LOD took profits at 1x IR and 3x their AR (see measured moves).
The Support and Resistance – Breakout Failure Tick indicator gave nice heads up just before the turning points.
E-mini S&P 500 Future 5 min chart (trend lines, arrows and boxed text drawn by hand)
daily chart
Always In Long (AIL) since 10/10
2nd bull bar, another test of the gap we closed yesterday
H1 buy Signal Bar for the bulls, shaved close = urgency
just below 3100 round number
Bear gap, mid range, DP, DT, mDT, WfBO, LL MTR, SC, 1CHBO, BT, DT, bear CH, BP
Some Selling Pressure just before a the DT/mDT on bar 5. Only lmt C sellers got a 10 point fill just before the news hit on bar 7.
E-mini S&P 500 Future 5 min chart (trend lines, arrows and boxed text drawn by hand)
daily chart
Always In Long (AIL) since 10/10
weak Entry Bar for the bears
we closed the gap with Wednesday