ES Journal - 2017/2018

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Daily and hourly very positive. We'll easily hit 2760 soon meaning possibly today but more likely in the next dew days.
 
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Although in overbought territory, the hourly has shown no sign of wilting yet. I would suspect some slight resistance in the 2755 area before pushing higher. Continuing to trade long on pullbacks on the 1 and 5 at 10 times leverage.
 
Interesting dichotomy here between the futures chart and the cash chart. Hourly futures chart shows reversal whereas cash shows continuation. Cash rules futures so the only thing one can do with this info would be to take profits----not get short. For me, I stay long on my position trade and will roll into March soon
 
Buy1Sell2 said:
Interesting dichotomy here between the futures chart and the cash chart. Hourly futures chart shows reversal whereas cash shows continuation. Cash rules futures so the only thing one can do with this info would be to take profits----not get short. For me, I stay long on my position trade and will roll into March soon
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There is divergence on cash RSI vs price...we are going down
 
I guess the IHS left shoulder from the 11/15 low has been mentioned. Funny thing is that almost the same setup appeared on April 9th, huge down day put in the right shoulder on a Friday but it paid off handsomely if you had guts to hold thru the weekend.

Normally I wouldn't take something so counter-trend, but it does look juicy... and what the hell, Christmas is coming. If we get down there in the next couple days I'll try to get in and risk 50bps for a ride to 2860.
 
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