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TOPIC: Big Lots indicators

Big Lots indicators 10 Aug 2010 13:21 #1

  • gcabrera
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Hi:

I love to use Biglots indicators and also Biglotsblocksalert.

I will post some charts showing the way I use it :) I have to say that I am amazed how this indicator works for me :woohoo: and fortunately, I am in profit almost everyday since I use it.

Basically I play divergences: Price vrs AT line (red-green). I like it better when the divergence is happening as a retest of an important level like yesterday high, low, close or open; Pivots, current day open... or any other level that I noticed that has already served as support or resistance today or in recent days. I mainly watch ES but also watch YM to see those levels there too.

This is a chart of today, I took a trade at 8:39 (mountain) when price retraced to test S3 level, that served as resistance at 7:48 and 8:01 but finally broke to the upside. I saw a big order selling of 300 contracts just to make the price reach S3 and placed my limit order at 1111.50, got filled and price started to go up when BAM!!! a big order buying of 411 contracts impulsed price to the upside, to fill my target of 3 ticks. As you can see, AT line was making a second higher low and price was making a second lower low, meaning Double Divergence, that is my favorite play.

Other probable plays:

8:26 Double divergence down. 2 points.
8:40 Double divergence down. 2 points.
8:55 Double divergence Up. for 3 points until next double divergence at 9:13. Big buyer of 318 lot prior to reversing up.
9:13 Double divergence down. 2 ticks max. At that time, YM was testing today open level.
9:55 Double divergence down, but too many big buyers trying to push price up, so I doubt on that.

Good trading all.

Gerardo

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Last Edit: 10 Aug 2010 17:38 by hunt.
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