ES Journal Archive (2006 - 2008)

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Divergences are of course not the only way that I trade. The attached chart is from today and is something that I presented earlier in the journal. It deals with successively higher or lower RSI peaks/troughs. This was very tradeable on the 15 minute chart today. Notice that the second trade was very nearly class B or class C divergence depending on how you name them. I use this on daily and weekly charts quite a bit and it works intraday as well.
 

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Quote from subq:

is that RSI(14) or a different setting?
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14 is what I always use. I never change settings on any indicator. I prefer to adapt my trading to the indicator.
 
As an aside, I would like to remind all that I also sell option premium in large amounts, so as to supplement my income and trading. I do not include that in the journal when counting the profits.
 
Quote from Buy1Sell2:

I suspect that there will be a buying opportunity in the 1268-1269 area.
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Glad to hear that you are still active - what is the reasoning behind the 68 69 ???:)
 
Quote from hpeganz:

Glad to hear that you are still active - what is the reasoning behind the 68 69 ???:)
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purely off a trendline drawn from the 6/14/06 low. Nothing else. I don't typically trade trendlines, but thought it was interesting to look at. Stop would be placed below yesterday's low but far enough that noise wouldn't take it out.
 
Quote from Buy1Sell2:

purely off a trendline drawn from the 6/14/06 low. Nothing else. I don't typically trade trendlines, but thought it was interesting to look at.
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I understand you are not trading trendlines - but I think you use them to find resistance and support levels etc.
 

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