ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

My chart didn't show that. I use 14 RSI--what is yours
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14 as well, maybe somebody else can confirm whether it did happen PLEASE post a 30 min chart with RSI/CCI.

it's a big Q whether this will happen for me as it has been a trend day so far and I am hoping for a pullback to 20ma, so far it's slightly edging higher since entry and it likely that this short will have to be abandoned.

EDIT: 1249 PT otherwise
 
Quote from Buy1Sell2:

Hourly, 240 and daily are telling me to stay long. At least for that time frame package. Retracement in the weekly time frame bear
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difference being that i am going for a shorter time frame and it is realistic to expect a pullback, I must admit that I should have entered after 5 min divergence around 1254 level to secure the short
 
That's the beauty of basing setups on risk. It all depends on the target. I like 3:1 and lucky if I get it. So on a trend day (long) like this I'd never dream of shorting-the risk/reward would keep me out. Let's say I'm risking 1ES point ($50), looking back in previous similar days, did the pullbacks (shorts) provide +3pts. to justify entry? Or how about going with the trend (longs) and figuring out if the afternoon continuation might tilt that risk/reward to more than 3:1 in my favor. Just some food for thought.

Cariocas

Quote from Buy1Sell2:

Hourly, 240 and daily are telling me to stay long. At least for that time frame package. Retracement in the weekly time frame bear
More...
 
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