ES Journal Archive (2006 - 2008)

Buy1Sell2 · Jul 28, 2006

Those 240's are really looking bearish on the ES and the NQ. I am out of the NQ for a small loss, and will re enter when it resolves itself. Staying in ES as I am hedged well. If unhedged, I would be taking the profit here I believe.

Buy1Sell2 · Jul 28, 2006

Quote from romik:

240 kicked in I suppose.

B1, one Q here, I have already established for myself that shorter divergences during a trend day fail, apart from the ones that occur on pullbacks during that day. What about longer TFs like daily during Sep to Jan as an example in 2005/06, what's the probability of these divergences working out?

Thanks.

I didn't quite understand the question . Which divergence are you looking at? I am not certain there was one during that period.

romik · Jul 28, 2006

Quote from Buy1Sell2:

I didn't quite understand the question . Which divergence are you looking at? I am not certain there was one during that period.

I was wondering, based on your experience, how do longer TF based divergences work out when S&P is in an up trend for instance?

Thanks.

Buy1Sell2 · Jul 28, 2006

Quote from romik:

I was wondering, based on your experience, how do longer TF based divergences work out when S&P is in an up trend for instance?

Thanks.

Do you mean a BRD in an uptrend?

romik · Jul 28, 2006

Quote from Buy1Sell2:

Do you mean a BRD in an uptrend?

as an example or a BLD in a downtrend?

Buy1Sell2 · Jul 28, 2006

Quote from romik:

as an example or a BLD in a downtrend?

With RSI confirmation , you can certainly take those at least back to the 20 MA. Generally speaking for a sound reversal, I like the space between peaks and an RSI confirm to really get short. Doesn't always need the second peak and that's where RSI comes in. Trades are taken either on divergence with RSI confirm or on higher/lower RSI peaks by themselves. . Either is fine and it's that much better when they agree. Daily chart divergences are much more powerful that intraday because the bars include the actual closing price of the day which is where the pros are trading, not at the open.

Positional Pros that is.

romik · Jul 28, 2006

Quote from Buy1Sell2:

With RSI confirmation , you can certainly take those at least back to the 20 MA. Generally speaking for a sound reversal, I like the space between peaks and an RSI confirm to really get short. Doesn't always need the second peak and that's where RSI comes in. Trades are taken either on divergence with RSI confirm or on higher/lower RSI peaks by themselves. . Either is fine and it's that much better when they agree. Daily chart divergences are much more powerful that intraday because the bars include the actual closing price of the day which is where the pros are trading, not at the open.

Understood, thank you.

romik · Jul 28, 2006

long 78.25 x 3 on WRB HIGH

stop 76

hpeganz · Jul 28, 2006

Quote from Buy1Sell2:

Those 240's are really looking bearish on the ES and the NQ. I am out of the NQ for a small loss, and will re enter when it resolves itself. Staying in ES as I am hedged well. If unhedged, I would be taking the profit here I believe.

Just to summarize the TFs: 240 bearish
daily bearish
weekly bullish ???

Buy1Sell2 · Jul 28, 2006

Quote from hpeganz:

Just to summarize the TFs: 240 bearish
daily bearish
weekly bullish ???

Daily Bullish weekly Bearish--although Weekly beginning to show some life --240 was somewhat bearish, but is tough to tell now.