ES Journal Archive (2006 - 2008)

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Quote from thebuzzkill:

B1S2 do you use any other indexes as indicators? I always have the YM always up on my screen, I rarely trade the es off of what the YM does but it does give me a confirmation.
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No I really don't. The other markets that I am looking at are Currency Futures, Bond Futures and Grain Futures. Sometimes there are correlations or inverse relationships, but I usually don't trade on that. I just look at each markets technicals. I pay zero attention to fundamentals unless you could call seasonal tendencies in Grains to be fundamental. :)
 
My version of what to expect would be a pullback to 20 MA on daily and rally to 1300 creating a BRD on daily, which will result in an anticipated (by B1S2) sharp sell-off to 1180-1200 levels. I am expecting a rally now, not only based on BLD on daily, but a continuation of a WRB (again on daily), which by my calculation should see ES to 1300 mark.

As far as hourly Q is concerned, I would expect a bounce Upwards, that action is more likely IMO than a sell-off today.

Romik
 
Quote from Buy1Sell2:

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Embrace the movements of the market...................
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Exquisitely said, Buy1Sell2.

Very interesting journal. I am not a 'divergence' trader myself but I enjoy reading your observations. It took me many years to realize the significance of what you said above. To me, embracing the movements of the market was really all about becoming comfortable with uncertainty of outcome (of individual trades). Once I got used to viewing outcomes in a probabilistic manner, I stopped being afraid of the movements. And, once I lost my fear, I was able to keep my wits about me without getting overwhelmed by every tick that went against me. This was probably the most significant milestone on my journey to consistency (and profitability:)).


Happy Trading.:)
 
Quote from thebuzzkill:

Is it me or does the 15min seem to show a divergence? Bullish
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There is some of that on the 15. At the moment, it's not quite mature yet in my view and for now would trail a stop above the reaction high of 1277.00
 
Quote from Buy1Sell2:

Ok question for anyone:

Look at the hourly chart right now. What do you think? More downside or or we bouncing off an hourly uptrend line?
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How did you read the hourly chart - bearish - why ??:p
 
Quote from hpeganz:

How did you read the hourly chart - bearish - why ??:p
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By placing a trailing stop above the reaction highs, it allows you to stay short. Also, the 20 period Moving average has a sharp tilt to it which indicates that the trend continues to be down. As you may recall from earlier in the journal, I like to see the MA start smoothing a bit as another confirmation for reversal to be in order. The 20 period MA is the middle line of the BB. Most TA traders are MA traders in my view and this is why sharp tilt in MA are hard to overcome. One other item to note, is that the MACD was very bearish still and while it can go above zero and stay there a long time with false reversals, most of the time it oscillates and doesn't "lock up" --It's better to play the percentages.

:)
 
Quote from ForrestGump:

Exquisitely said, Buy1Sell2.

Very interesting journal. I am not a 'divergence' trader myself but I enjoy reading your observations. It took me many years to realize the significance of what you said above. To me, embracing the movements of the market was really all about becoming comfortable with uncertainty of outcome (of individual trades). Once I got used to viewing outcomes in a probabilistic manner, I stopped being afraid of the movements. And, once I lost my fear, I was able to keep my wits about me without getting overwhelmed by every tick that went against me. This was probably the most significant milestone on my journey to consistency (and profitability:)).


Happy Trading.:)
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Thank you for your inspiring and encouraging comments! Glad to hear from you!
 
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