ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

I have added a second short here at 1327.00 and moved the stop on both units to 1330.50--successive lower RSI peak on 12 minute chart. By the way, I ignored the double bottom RSI long signal at 1323.50. This occurred after my intial short. I am paying the price for ignoring that as you can see.
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I had a gain and try to hold for more lol, now hedged here one to one, Ym to Es. Barely taking any heat, although I know that could change. Eventually I will clip long and be naked short.
 
Finally got a completion on the 12 minute chart of a Histogram divergence. 60 minute has not confirmed of course and still looks bullish. Im trading mostly the 12 today. Double top RSI with declining second peak here. I will keep the 2 units short in place here.
 
Quote from tradingclueles:

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Please please refrain from the foul language in this journal. You are welcome to post and encouraged to post, but we ask for no foul language. Thanks.
 
Quote from sosa1974:

I just added, and now net short. Still have long just in case of further upside.
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What are you looking at in determining a short here. Is it at all similar to what I was mentioning?
 
Quote from Buy1Sell2:

What are you looking at in determining a short here. Is it at all similar to what I was mentioning?
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I started @ 1324.75 which was previous hi. I had about a 2.00 pt gain, didnt take it. Since they broke to the upside @ this level I hedged immediatley with Ym. At this point my decision making depends on the long side. When this side shows it cant make me money I added to the short side, 1327.25. Kind of simple I know, but it protects me on these types of trending days. If the long is not making money or making money helps me gauge when the short side maybe ready for an add. I have a fixed dollar stop loss of $500.00 and once that is reached I'm out and try to recalibrate. Your analysis is something that I'm adding to my arsenal to better improve my trading. Your input is truly helpful, at least for me.
 
I think porgie is rubbing off on me... I am starting to like the YM :D.

Applied my indicators and got 7 points on 1 contract. The full move ended up being over 10 points which is what I would look for I think. Found other consistent entry signals looking back and may start dabbling in it a bit. Looking to do 10 contracts a trade so 7 points would have been $350 and this was not a big move. Seems to have a little more defined moves than ES and spread is 1 to 2 points.

OUt of curiosity, has anyone else here applied their ES signals to YM charts and compared?
 
The pattern of the histogram that exists on the 12 minute chart, while not the most bearish that I have seen, is certainly strongly bearish--at least for this time frame. My guess is that we will eventually see a bounce and a smaller , perhaps even negative third histogram peak along with a 3rd lower RSI peak.
 
My word-I know it's only 1:06, but look at that hourly chart. That is certainly negative the way it stands now. Let's see what the 1:30 bar end brings.
 
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