ES Journal - 2015

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Brianharvey said:
stopped -2.5
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Brian, I can see what you are trying to do, as the 1 minute chart has come back to oversold conditions, but there has been no real base formed on the 1 minute chart yet. The 15 has come back from seriously overbought conditions and the hourly has slipped back slightly from being seriously overbought. I think a better base needs to be formed on the one minute with some momentum created to the upside on the 1. Right now I only see 4430 as the stop out level.
 
and as such, if that creates a larger drawdown that you would like to take or would exceed 2 percent of TLNW, then I think patience would be the key and get the trade on the 1 minute correct.
 
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Buy1Sell2 said:
Brian, I can see what you are trying to do, as the 1 minute chart has come back to oversold conditions, but there has been no real base formed on the 1 minute chart yet. The 15 has come back from seriously overbought conditions and the hourly has slipped back slightly from being seriously overbought. I think a better base needs to be formed on the one minute with some momentum created to the upside on the 1. Right now I only see 4430 as the stop out level.
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doesn't sound like brian wants advice, so why are u giving it ?
 
wiesman02 said:
doesn't sound like brian wants advice, so why are u giving it ?
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Could be helpful in the analysis of why markets sometimes seem exhausted when more than 1 time frame shows overbought. Certainly doesn't mean the market can't go higher, but in these conditions you may have to make a wider stop and then of course lower your size in order to do so. It's better when the 1 minute has a strong base which would then provide more support for a close stop. Hopefully that will help him or others.
 
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