ES Journal Archive (2006 - 2008)

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Quote from romik:

.....................I've done a fair bit of short term divergence trading and have switched to longer time frames, partly on advice from B1S2.
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You are right - the shorter TF 1 to 5 minutes need a lot of attention and even the probalbility doesn´t seem to be too exiting. - yes for me the longer time frames 15 to 240 minutes seem to fit better - we will see ...thanks for advice:cool:
 
Quote from Buy1Sell2:

The answer for me is simply that I am trading longer frames and staying in for bigger moves. It's true that I could have sold yesterday and now looked for a re entry point, but again it is all a matter of time frame and how active I want to be. As regards the weekend rule--this gives me what I call a "time stop" on long trades and gives me pause to reflect while also eliminating a weekend geo political issue to melt down when I can't react.
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I Agree that you are trading longer time frames BUT the double top at 1269 was done on a lower volume gap up and was at a high standard deviation volitility band with a divergence lower top in the NAZ so i agree with holding on to your core position but scaling out of a couple of contracts at a low volume double top high does seem to be more prudent... and not in hindsight?

cj...

:)

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HAVE STOP - WILL TRADE

If You Have The Vision We Have The Code
 
Quote from hpeganz:

You are right - the shorter TF 1 to 5 minutes need a lot of attention and even the probalbility doesn´t seem to be too exiting. - yes for me the longer time frames 15 to 240 minutes seem to fit better - we will see ...thanks for advice:cool:
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the good point about longer TF based divergences is that if ones capital does not allow to either hedge or average, it might be a better idea not to take incomplete formations, but enter into a trade once price action shows signs of a definite reversal, OK there will be less points to be made, but that would be safer for ones capital.
 
This will be a good one to watch here as we approach the low of day. Watch for BLD's here and a rejecton of the low of day. Not 100%, but the charts have the groundwork in place.
 
Quote from EdgeHunter:

I Agree that you are trading longer time frames BUT the double top at 1269 was done on a lower volume gap up and was at a high standard deviation volitility band with a divergence lower top in the NAZ so i agree with holding on to your core position but scaling out of a couple of contracts at a low volume double top high does seem to be more prudent... and not in hindsight?

cj...

:)

__________________
HAVE STOP - WILL TRADE

If You Have The Vision We Have The Code
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Without the hedge and just outright trading long, then perhaps it would ok for a trader to do that. I however, have a rule that I never scale out except when covering short options. Thanks for offering the ideas.:)
 
Quote from hpeganz:

what facts are the beliefs based on ??:)
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For one, we just rejected the low with a BLD on the 5 minute chart

Second the daily chart is looking more like it will bounce to me

Third, the 60 minute is beginning to reject the OS line on RSI and MACD Histogram is brewing a BLD:)
 
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