ES Journal Archive (2006 - 2008)

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Quote from romik:

Average 1262.87 now

HP, hourly BLD is complete and this is just a probability play, like any other divergence scenario. You do not necessarily need support from another TF for hourly BLD to work.
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Are you then hoping that your trade will be positive - or do you still count on the complete hourly.....?:)
 
Quote from hpeganz:

New BLD 60 !!
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yes and this one has some confirmation from the RSI which the one I took yesterday did not. The CCI confirmed yesterday but not the RSI. In addition, yesterday's hourly most likely didn't have the MA quite flattened enough and ended up being a bit of a fakeout. It helps me to start with small positions like 5 units and "probe" until I find the one that works. Right now, I will be adding on a divergence in the 240 which doesn't exist yet.
 
Quote from thebuzzkill:

I have noticed that the CCI doesnt seem to be used to much in your analysis, do you feel that a CCI crossover is not as useful as say the MACD & RSI.
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I am still working on using the CCI on Romik's suggestion. I have not been working with it long enough to tell if it works well yet or not. It appears so far, that the RSI is more reliable, but th jury is still out.
 
Quote from hpeganz:

Weekly Chart - Is the old BRD still working . active??
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yes, this is why I carry the short positional trades and I am trading around my position in the short term account.
 
Quote from yvberj:

I been reading the posts regarding those of you that are long.
I agree that the hrly. chart shows divergence on the MACD (hist)and CCI indicators, but the 1/2 hrly. MACD doesn't support it, even though the CCI does. The shorter term indicators, nor, the daily aren't supporting it either.

Up to now, price has dropped through a couple of hrly. support zones and now it's sitting on another hrly. and daily support zone.

Even though there is a little divergence on the hrly. & 1/2 hr. I'm not seeing any divergence on the daily. If anything, my indicators are turning, or, have turned dn.

If this support at this level doesn't hold, which, if you look at the daily indicators doesn't look good, the next stop looks like around 1230.

Now, on the positive side, for the longs, there is a tremendous gap between price and the 50EMA on all TF's. That gap is always filled, so we may well see a retracement at this point.

Good luck,
Alex

Sorry: I left out that the 15min. has also started to turn up.
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The main thing is that the RSI really didn't confirm the hourly BLD and also the 240 was very bearish still. You may recall that when asked about the 240, I indicated that the 240 was bearish. My first foray with the hourly BLD was as a "probe" and I will add if necessary when the 240 diverges.
 
Quote from 4re:

Actually I have a lot of respect for B1. I don't trade like he does or anything but it takes a lot of guts to put all of your trades out there for all to see. He is not like some people and only post good trades. He puts them all out there.

Good job here, B1...

4re
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Thanks very much 4RE. This is the essence of this journal--to be honest.
 
Quote from rallymode:

dude, have you actually read the whole journal?

B1S2, nice journal. Long time lurker here, thought i'd drop a comment.
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Thanks Rallymode! I believe we have quite a few lurkers and it's good to hear from you.:)
 
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