Emini divergence journal

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1005 bar was above the KB. The 1010 bar did not make new high. The entry was the open of the 1015 bar. the 1015 bar made a new HOD but did not get my stop.

Moved my stop to 103.30, just under HOD, but might get out earlier depending on other indicators

this is a tough trend to be counter too
 
Quote from MTG:

1005 bar was above the KB. The 1010 bar did not make new high. The entry was the open of the 1015 bar. the 1015 bar made a new HOD but did not get my stop.

Moved my stop to 103.30, just under HOD, but might get out earlier depending on other indicators

this is a tough trend to be counter too
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You may be looking for a trade that isn't really there. Good luck anyway.
 
FWIW, look for real effort, an attempt to make a new high, a failure to do so, another attempt, then another failure which leads to the selloff. If instead it seems as though price is just drifting, you won't get that capitulation which leads to a successful trade, which is probably the chief reason why NPP looks for a decisive penetration of the KBs.
 
Quote from dbphoenix:

...which is probably the chief reason why NPP looks for a decisive penetration of the KBs.
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When no pm first stated his method, he talked about the price being "near or outside the Keltner Channel". db, was that revised somewhere along the way?

Thanks,

Mark
 
Quote from MarkB:

When no pm first stated his method, he talked about the price being "near or outside the Keltner Channel". db, was that revised somewhere along the way?
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I missed that revision too, I don't remember anything about "decisive penetration". :confused:
 
The thread's so long by now that I can't say for sure what's been said. But my notes say that both the benchmark high and the next attempt at a new high should both be through the KBs. If they need only be "near", there's really no point in having the bands at all.

I need to do more testing on this since there are so few trades, but it does seem that if the KBs are not penetrated, the trade is far less likely to go anywhere.
 
this is one of very few journals worth something to a person looking to learn (talking daytrading eminis here). there's prolly only 2 or 3 all time. another comes to mind is dbphoenix's. A successful guy willing to put it all out there and break it down. What a rarity in Journals and ET in general. Props to the guy.
 
Potential trade meeting No-PM's criteria, (based in 5 min ES)

1330 ADX +30
1410 new low after ADX, Diveregence w/ CCI & Moneyflow and price ( I don't use Chaikin)

Needs to fail to make a new low then enter long on the open of next bar

(I use the SPY when testing new setups for trades w/ ES, kinda like a paper trade but with a little money on the table.)
 
Not showing Divergence on Money flow at this time, but still shows on CCI

I won't be taking trade if it sets up because I am already short on a longer time frame

looks like it will fail to make new low w/ the close of the 1420 bar so entry would be open of 1425
 
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