ES Journal Archive (2006 - 2008)

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MACD on 60 min chart crossed centerline recently, considering it is a very trend day so far, locals can push it down only so far in my experience, they mostly work within various price channels, pivots and trendlines, my conclusion is that we won't be declining that much today...my broker have got their lunch covered today, but I am a happy man so far, quite a few trades today, some losses, but my ROI today is beating all my previous performances, benefiting from advice on this thread, a lot. Thank you all.
 
as you can see, well you probably know this anyway, trendline levels keeps adjusting, by doing so, providing you are still within the range of your stop level, you can analyze where the price might be taken during low volume trading hours, I hope there will be support @ the lower trendline level, otherwise I would still be within my stop level, which is 1315.75, which happens to be below yesterday's High, which is also a good level in my favour.
 
tomm. or the next few days may be the time to go short IMHO.

todays market internals were horrible given the up move. if internals don't improve quickly i think we will test 1300 again, or possibly lower.
 
Yesterday was a decent day. Just two trades but they caught the up move with the bullish divergenve that I noted and then I caught that short for 5 pts later in the day that I posted. System is working well. I am still holding 9 units short and looking to add if we go higher or I see a clear divergence signal.
 
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