ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
- Start date
- Status
Could you please indicate the peaks you used for the BRD in the hourly chart - Thanks - (maybe you can show us a chart??)
I think that you are suggesting in a way using at least hourly or longer time frames for playing the divergences, because they are in a way more reliable. So following your advice someone could target for larger (day)-moves - as compared to 2 points with 2 points risk stop. As example today playing the BRD with stops above 1290 10 or more points have been possible!??
Quote from hpeganz:
Could you please indicate the peaks you used for the BRD in the hourly chart - Thanks - (maybe you can show us a chart??)
I think that you are suggesting in a way using at least hourly or longer time frames for playing the divergences, because they are in a way more reliable. So following your advice someone could target for larger (day)-moves - as compared to 2 points with 2 points risk stop. As example today playing the BRD with stops above 1290 10 or more points have been possible!??
I will post a chart most likely Sunday Night as I am driving right now and may not be in an area where I can get a connection soon. Good to hear from you and yes, there were quite a few points to be made if you used the reaction high as a resistance area instead of the standard 2 points etc.
Quote from hpeganz:
Could you please indicate the peaks you used for the BRD in the hourly chart - Thanks - (maybe you can show us a chart??)
I think that you are suggesting in a way using at least hourly or longer time frames for playing the divergences, because they are in a way more reliable. So following your advice someone could target for larger (day)-moves - as compared to 2 points with 2 points risk stop. As example today playing the BRD with stops above 1290 10 or more points have been possible!??
Here is the hourly chart in response to your request from Friday. I hope it clears it up a bit for you. Ask questions. Thanks!!
By the way, there was no hourly divergence today that would have foretold the initial run up. The only one that could be seen and it was most likely too far in the past was on the RSI from the trough last Wed. This would have been better if it had appeared on the 240 minute chart, but looking at the 240 , you can see that there was no divergence. So what we had today was a pullback from the initial surge to the downside Friday. There was however bearish divergence today on the 5 minute chart that would have shown the way to get short again on the pullback. --At least for all the 5 minute chart people out there. See chart below---
==============
Hadnt heard froim you in while, Spike so went back to June -29 timely remark;
could be because so many trends like 50 dma were polar bear-ish
And still are pointed down
;& including , but not limited to weekly hourly downtrendcandle chart
I must admit that it is kind of sad to see this thread not being used actively anymore. I have to say that I personally learned a lot about divergences from this thread, something that I never used before in my trading.
All the best
All the best
I'm still here guys. I'll be posting more as we go. I'm glad to see that you have interest buzz and there are quite a few folks who still read the journal. I have no intention of stopping. I suspect that there are different folks interested as I have moved halfway back to straight position plays. By the way, did you notice that the profit total increased as I got less active in day trading?
Yes I had noticed that the longer positions seem to work better for you than the short trades, and it has actually led me to go for more longer term positions (2-3 days) as opposed to shorts 2-3 point scalps, and I have made a lot more money out of doing it.
Thanks
- Status