Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Trading Ranges

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From a day trading perspective it is important to recognize the larger trading ranges. In my opinion, day traders profit from how a market moves, not where it ultimately moves to.

Price action chart:

ranges

Volume profile macro composite chart:

composite

In the following chart the low volume nodes will be marked off with GREEN lines and high volume nodes with RED lines.

Hybrid chart:

hybrid

Looks pretty good so far. If you really want to stack the odds in your favor add weekly pivots and unfilled gaps into your charts. This allows for easy identification of the larger trading ranges and gives context to the smaller ranges and templates I use going into each day. For more information on how I define those smaller templates.. look at my previous header posts.

“Strategy without tactics is the slowest path to victory. Tactics without strategy is the longest path to defeat. Absent strategy and tactics, defeat is assured.” – Sun Tzu

June 6th, 2013, E-mini Prep Work

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I try to never outsmart the market.. so I won’t start today. Yesterday’s cash session low came in within 1 tick of the large gap window left behind on 5/03/2013. Therefore if the support level fails, I would expect that large gap to fill. Until then.. we have another reference for support.

Here is the chart:

june6

Looks like a news driven flush is dominating pre-market so we’ll have to wait and see what is in store. Good luck out there today.

June 4th, 2013 E-mini Prep Work

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Yesterday’s trading session did not push above the overnight high, so the same midpoint and resistance zones still stand.

A few important things to mention. The overnight session has made a pretty solid base around the daily pivot point and yesterday’s value area high. The 4pm gap is at 1638.50 and the 4:15pm gap is at 1636.00, while yesterday’s session high was at 1639.00. All this goes to say, that shorting even for the gap fill is contra trend and should be managed accordingly.

Here is the chart:

june4th

Relatively light news schedule today. Go get em’

June 3rd, 2013, E-mini Prep work

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Technically, Friday broke the daily trend and momentum. However there were key volume profile areas below that were tested and have for the time being provided support.

Support 1626.25-1628.00

Mid-Point: 1641.00-1643.50

Resistance: 1657.00-1659.00

june3rd

Big number at 10am EST today, are good numbers good or bad for the market now? No need to re-invent the wheel just manage your risk prior to the release.

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