Market Snapshot: Market Update

Tuesday, August 25, 2009

Market Update - Aug 25th '09

ES stalled on the resistance level around 1032 as anticipated, then retraced slightly to the minor 16% Fib level (~1020). Further erosion is possible but should only be visible in intraday time frames. Longer time frames are also losing steam but remain marginally bullish.

We do note Fib levels around 1013 then 1000 again.

Same story for TF, with Fib levels around 571 and 561 (minor Fib at 577), and here again, current erosion is nothing but normal and should not turn into a sizable retracement either.

EURUSD: No change in outlook just yet. We are watching for a bounce on 1.426 to 1.428 to aim back at range highs around 1.44 (mid term). If our support breaks, we'll review our position to probably go short for a 1.398 then 1.369 targets.

( posted 6:50 AM UK )

NB: there will be no post on Friday

Welcome !

And enjoy your visit to this little "Market Snapshot" blog.

The market report blog has now moved to ForeTrade while this one will (time permitting) focus on actual chart commentaries on TF and ES eminis, as well as EURUSD to show how accurate and yet simple our proprietary method is. The reason for this change is that the Toolset itself is no longer for sale itself, simply because the sales effort and training/support activities were too time consuming. I now provide market analysis exclusively to fund managers until the technology is finally sold to a fund or financial institution. The blogs and Twitter will then be closed or turned private. Anyway, enjoy while it's there...

A closer look:
Behind these market snapshots lies an advanced TradeStation toolset including a set of C++ DLLs and API to access various advanced realtime calculations stored in the DLL to be used either within TS or with custom VC++ programs. While seemingly a little complex at first, the technique is actually relatively easy to grasp. In fact, since most humans can only memorize 3 to 5 (sometimes up to 7) pieces of information at any one time, and the technique being discretionary, it was essential to keep it as simple as possible.

What are those snapshots made of ?
In a nutshell, all reports are based on a minimum of 1 symbol in 3 Time Frames: 60mins, daily and weekly, themselves using more or less the same indicator set: self-adaptive swing indicator, MTFS (formerly AdStoK) and self-adaptive Entropy and a few visual aids (swing direction, support/resistance levels and paintbars). "Self-adaptive" is the key word here. There is virtually no parameter to tune, and it can be used as is, for virtually any market symbol. Each chart provides a visibility 3 to 5 bars ahead, so actual trading should obviously be complemented by a sound money management technique.

A common question : Why isn't there a user documentation then? Hmmm... Who ever reads manuals...? Well, I might provide one eventually but at the same time I might not... The reason is that it is more important to absorb the method over a period of time and make it one's own, i.e. then adapt it to one's own trading profile.
For the keen developer, a detailed API documentation for this set of advanced TradeStation Analysis Techniques will be released shortly.
For the time being a separate technical blog has been launched for those of you interested in learning a little more about what's under the bonnet.
For more info: voisin DOT bruno AT gmail DOT com

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Market Snapshot

Tuesday, August 25, 2009

Market Update - Aug 25th '09

Limpopo-Lipadi

Welcome !

Learning the technique with a few commented charts

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