Its interesting to note that I've found that algos and HFT's are active around key levels that pertain to elliottwave patterns, especially during the first stages of impulsive waves.
The above chart shows a specific level that I was watching, and as I tweeted at 11:04 am, " I would really like to see a retest of 1451.5 in . $$". This was immediately followed by an algo burst, noted by Nanex.
For those who are just learning to trade ES, the number is most always front-run by .50.. so I was anticipating the turn as the move from 1453.75 was clearly a corrective pattern.
Algos love piling on after after the minor or minute second wave. While I haven't labeled the chart in an effort to get this out to readers, the arrow shows where and what time the event occurred.
You won't be able to find this kind of information looking at longer time frames.... so make the 1-min chart your friend.
Best of Trading
======================================================================
ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure.
Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content") provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade.
A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blog site.
======================================================================
No comments:
Post a Comment