ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

I'll work with the 12 minute chart on this one. Short at 1299.75

There has just been a failure swing of RSI on the 12. The Histogram is a little taller than what I like but we'll get out if wrong.
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bearish divergence on 5 min, short here as well from 1300.50
 

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Quote from Buy1Sell2:

Trend is certainly up this morning as we test 1300. If the market will comply, there may be a set up for a triple bearish divergence later today on hourlies.
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Triple Bearish divergence in the MACD Histogram has just occurred at the end of the 9:30 bar completed at 10:30.
Stop should be placed above the high of the day. Remember it's not 100 % , but indeed increases probability. I should point out as well, that this particular divergence is not quite as strong as others, due to the fact that the first two peaks in both Histogram and Price are close to identical making the initial divergence a Class C or a minor Class B. The third peak is Class A all the way, so this divergence most likely has the strength of a Class A regular divergence. Keep in mind--any Class A divergence should be traded and sometimes the weaker ones develop huge profits.
 
Quote from Buy1Sell2:

Triple Bearish divergence in the MACD Histogram has just occurred at the end of the 9:30 bar completed at 10:30.
Stop should be placed above the high of the day. Remember it's not 100 % , but indeed increases probability. I should point out as well, that this particular divergence is not quite as strong as others, due to the fact that the first two peaks in both Histogram and Price are close to identical making the initial divergence a Class C or a minor Class B. The third peak is Class A all the way, so this divergence most likely has the strength of a Class A regular divergence. Keep in mind--any Class A divergence should be traded and sometimes the weaker ones develop huge profits.
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B1S2, do you look at divergences that occur above/below 80/20 RSI or in between as well?
 
Quote from romik:

B1S2, do you look at divergences that occur above/below 80/20 RSI or in between as well?
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I use 70/30. I look at both inside and outside the lines. I would say the strongest RSI divergences are those that peak outside the lines , then come back inside and have a failure swing at the line. Those are very strong with regard to RSI.
 
Quote from Buy1Sell2:

I use 70/30. I look at both inside and outside the lines. I would say the strongest RSI divergence are those that peak outside the lines , then come back inside and have a failure swing at the line. Those are very strong with regard to RSI.
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Gotcha, thank u
 
Quote from Buy1Sell2:

Triple Bearish divergence in the MACD Histogram has just occurred at the end of the 9:30 bar completed at 10:30.
Stop should be placed above the high of the day. Remember it's not 100 % , but indeed increases probability. I should point out as well, that this particular divergence is not quite as strong as others, due to the fact that the first two peaks in both Histogram and Price are close to identical making the initial divergence a Class C or a minor Class B. The third peak is Class A all the way, so this divergence most likely has the strength of a Class A regular divergence. Keep in mind--any Class A divergence should be traded and sometimes the weaker ones develop huge profits.
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who's still in with me?
 
Flat 1292.50. Im fading every run up. They could barely push over yesterdays hi. Saw an evening star set up also. Good read Romik,S2. Im done for today, I'm tired.
 
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