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Greetings Traders,
The accuracy of Will's brainchild (the software), to say its amazing I feel is an understatement. I like to narrow down possible entries using the Volume Profile within the zones to locate pockets of unfilled orders. What blows my mind, is when price reacts to a zone, much less a divot in the VP, that is months old. I literally scratch my noggin in bewilderment. Take a look at the screen shot I have here of YM. Today is 040519, notice how the overnight high (since has been broken post economic event @ 0530 PST). In the zone you'll see a blue line. I marked this as a pocket of unfilled orders. Now, here is where it gets crazy: the zone was created back in OCTOBER 2018. Exactly.....Say whaaat?! Yep. Check it out. Ive attached a slice of the chart together so you'll see the zone origination boxed in red. Enjoy and trust these levels peeps. Even when I see it w my own eyes I still struggle with not the zones, but my own confidence.
Cheers!
Chris S
The accuracy of Will's brainchild (the software), to say its amazing I feel is an understatement. I like to narrow down possible entries using the Volume Profile within the zones to locate pockets of unfilled orders. What blows my mind, is when price reacts to a zone, much less a divot in the VP, that is months old. I literally scratch my noggin in bewilderment. Take a look at the screen shot I have here of YM. Today is 040519, notice how the overnight high (since has been broken post economic event @ 0530 PST). In the zone you'll see a blue line. I marked this as a pocket of unfilled orders. Now, here is where it gets crazy: the zone was created back in OCTOBER 2018. Exactly.....Say whaaat?! Yep. Check it out. Ive attached a slice of the chart together so you'll see the zone origination boxed in red. Enjoy and trust these levels peeps. Even when I see it w my own eyes I still struggle with not the zones, but my own confidence.
Cheers!
Chris S
Chris,
Great post ... I wouldn't disagree with anything you said. I had a chance to attend a stock trader's group last night. What was the first topic: confidence. Next topic zones and process.
Brad
Great post ... I wouldn't disagree with anything you said. I had a chance to attend a stock trader's group last night. What was the first topic: confidence. Next topic zones and process.
Brad
Chris, astute observation, the PFA Zone Suite is truly amazing. Prior to PFA I spent years with another organization learning supply & demand methodology using the TradeStation Platform for charting. After extensive search and manually plotting the S&D levels much time was spent on building a chart vs analysis & decision making. Although it was great practice to train my eye for location, supply & demand, trends, reversals etc however a somewhat inefficient use of time & resources.
PFA ZS allows efficient big picture view while reducing search time allowing more time for analysis on the highest probability opportunities resulting in more confident decisions.
Capitalizing on Will's education & methodical process + software = homerun!
I'm sure all traders have bouts of indecision so thank you for bringing this example to the community's attention.
Thought of the Day: "Don't Clean Your Fish Bowl During New Issue Day"...Wolf of Wall Street
Stay green everyone.
Randy
PFA ZS allows efficient big picture view while reducing search time allowing more time for analysis on the highest probability opportunities resulting in more confident decisions.
Capitalizing on Will's education & methodical process + software = homerun!
I'm sure all traders have bouts of indecision so thank you for bringing this example to the community's attention.
Thought of the Day: "Don't Clean Your Fish Bowl During New Issue Day"...Wolf of Wall Street
Stay green everyone.
Randy
Good observations Chris! ...The YM may be headed to the area left from 10/5. The rally today is due to the anticipated strong Non-Farm Payrolls & Unemployment Rate numbers, but it's hiding broad-based weakness with employed workers actually declining by 201K to 156.748K, and the March jump was entirely due to part-time workers, which rose by 60K, while full-time workers dropped by 190K, the biggest monthly decline since August 2018. Now Trump is calling for QE4 this morning + Kudlow wants a -.50 bps cut in interest rates immediately + the Bond market isn't buying the stock rally + it sure looks like the ES is going to make a new all-time high in the near future + the longest business cycle in history lasted 119 months, and we're now in month 116 of the 2nd longest cycle... feels as though things are on the precipice.
- pfaisawesome11
- 4 years ago
- #1107
Jim,
I think we also have or are nearly in an inverted yield curve.
Brad
I think we also have or are nearly in an inverted yield curve.
Brad
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