ES Journal - 2015

Right now, you have intraday charts overbought and short term swing charts overbought but longer swing and daily charts are not, so shorts need to be entered very carefully and with minimal risk.
 
A classic case of this 3 chart strategy that I have is when you look at the 5 min bar at 4:40 this AM. You clearly had an overbought condition but when you look at the 30 and 60, they are still in oversold territory with price rising. Therefore the selloff that was created at 4:40 was merely pullback.
 
I'm only looking for a short here because we are approaching 2089 and there should be some pros stepping in to sell. I would need a definitive signal and if I don't get it , I don't trade. If I miss opportunity, I don't care--I am using 10 to 1 margin and can afford to miss chances because I also use prudent risk management and will catch a different trade next time and catch a decent profit.
 
Buy1Sell2 said:
I'm only looking for a short here because we are approaching 2089 and there should be some pros stepping in to sell. I would need a definitive signal and if I don't get it , I don't trade. If I miss opportunity, I don't care--I am using 10 to 1 margin and can afford to miss chances because I also use prudent risk management and will catch a different trade next time and catch a decent profit.
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Definitely were sellers, but will there be enough to turn the tide?
 
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