ES Journal Archive (2006 - 2008)

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Quote from romik:

I don't follow you. I was under the impression of you staying in the trade based on a preset R:R and me reversing each position when a reverse grail is drawn on RSI. :confused:

Don't worry about any other signals like a divergence, we are simply going by long/short grail.
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It's important to see how far each grail moves without respect to whether or not you reverse. Only then can a trader tell whether a grail gives a good enough signal to trade
 
Quote from Buy1Sell2:

It's important to see how far each grail moves without respect to whether or not you reverse. Only then can a trader tell whether a grail gives a good enough signal to trade
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Now I am totally confused. We are treating lows below 30 and rising as a Long signal and once RSI reaches 70 and beyond and creates lower highs that would be a reverse signal to me. Essentially the first grail has outlived itself, to me anyway.
 
Quote from romik:

Now I am totally confused. We are treating lows below 30 and rising as a Long signal and once RSI reaches 70 and beyond and creates lower highs that would be a reverse signal to me. Essentially the first grail has outlived itself, to me anyway.
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Agreed , but we need to track how far each grail moves to get a feel for their full movement.
 
Quote from Buy1Sell2:

Agreed , but we need to track how far each grail moves to get a feel for their full movement.
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OK, but one grail has 2 points to offer, another 4, etc, when grail patterns are grail patterns, when a new reverse grail pattern is established THAT would warrant a reverse entry in my case. How far would you be taking an initial grail I don't understand.
 
Quote from romik:

OK, but one grail has 2 points to offer, another 4, etc, when grail patterns are grail patterns, when a new reverse grail pattern is established THAT would warrant a reverse entry in my case. How far would you be taking an initial grail I don't understand.
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I am not taking it anywhere, I am just curious as to how far the signals go so that some expectancy can be derived. Go ahead and do the test the way you were speaking of. I am interested in the results. :)
 
60 minute chart show a great potential for a bounce off of the OS line and a bullish divergence here. Pattern is not complete and is just starting. 240 indicates more downside at the moment. We'll need to see strength to have the 60 minute signal created in full. In addition, the 60 minute 20 MA is in need of flattening as part of the pattern. Right now, you would need to defer to the downside with a reaction high type stop. Time will tell here. Once a long signal occurs on the 60 or 240 it has great potential to be a strong one.
 
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