ES Journal Archive (2006 - 2008)

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Quote from romik:

Hi B1S2, could you have a look at the daily chart for me, I am a bit concerned with 1283 range. If ES trades through that level it is likely to have a good run, though daily charts do look bearish IMO.
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Tommorrow's employment report looms large. It will at least for the short term provide direction for equities. I'm holding a 1280 short, but Im going to close this at end of the day and will remain flat for the open.
 
Yeah, I failed to see a bullish divergence on a daily chart, though I am using smaller position size due to not having the time to daytrade at the moment, I must admit that it was an error of judjement on my behalf and I closed the trade @ 1285.50.
 
Quote from sosa1974:

Tommorrow's employment report looms large. It will at least for the short term provide direction for equities. I'm holding a 1280 short, but Im going to close this at end of the day and will remain flat for the open.
More...

Didnt go flat. Going to look to add above 1295 area if we get there. I have a feeling those numbers maybe be sand bagged. Anyway, Im obviously going to swing this.
 
Quote from romik:

Hi B1S2, could you have a look at the daily chart for me, I am a bit concerned with 1283 range. If ES trades through that level it is likely to have a good run, though daily charts do look bearish IMO.
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The close was strong today and I believe the daily chart is bullish and really has been since the double bottom RSI completion on 5/24. There is the double bottom RSI followed by a higher RSI trough. The only thing that is missing here is the Histogram divergence. I would not rule out a pullback here(perhaps a very large one) and a buy the dip strategy using hourly charts could be very successful in the short term. Hourly charts are overbought right now--in fact there is a slight Bearish Histogram divergence on hourlies, so I would not be a buyer tomorrow unless we pull back a bit. There will most likely be a shorting opportunity here or overnight, so both sides could be played although I prefer the hourly histogram to be a bit shorter than it is right now. I think a stop below the low of 1246.75 would allow a trader to add to positions until that level is reached. If I was to hazard a guess, I would say that tomorrow's action will most likely be flat to lower with a peak after the report perhaps.
As regards the weekly chart-- It has not shown itself to be bullish at this time, so I will be looking to add short positions if we go higher than this--
 
Quote from romik:/spike 500

OK, short here 1281.50 on bearish divergence on 15 min RSI
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Dont have a RSI on my charts either:confused: ;
but you must be on a different time zone, plenty of chances for a countertrend short profit @ entry 1281.5, this mourning.

Thought you had a profit

[6;22 pm now chicago time, I'll see what time stamp says here]
 
Quote from romik:

Yeah, I failed to see a bullish divergence on a daily chart, though I am using smaller position size due to not having the time to daytrade at the moment, I must admit that it was an error of judjement on my behalf and I closed the trade @ 1285.50.
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I went long where you went short.
 
Quote from murray t turtle:

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Dont have a RSI on my charts either:confused: ;
but you must be on a different time zone, plenty of chances for a countertrend short profit @ entry 1281.5, this mourning.

Thought you had a profit

[6;22 pm now chicago time, I'll see what time stamp says here]
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You can see bearish divergence forming from around 9.30am, sorry about the poor chart, away at the moment.
 

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