Just trying to stimulate conversation--The 240 doesn't support this at all(actually quite bearish). I was just taking a peek at the 5 minute chart intraday to see if there was a Bullish divergence brewing which there is. Note: I don't intraday trade the ES any more so this is just a call here for fun.
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Just trying to stimulate conversation--The 240 doesn't support this at all(actually quite bearish). I was just taking a peek at the 5 minute chart intraday to see if there was a Bullish divergence brewing which there is. Note: I don't intraday trade the ES any more so this is just a call here for fun.
Yes. It's a more likely candidate due to the farther separation from the previous troughs, the larger disparity between the Histogram troughs and the more dramatic the bounce off of the OS Line. It has only one thing going against it--20 MA is not flattening. That in itself may be enough to negate this one, but with proper money management , it should be considered. That is, if you use the 5 minute chart. Another possibility would be just trailing your stop above the reaction high which was 1308.50 , but is now 1307.50. You could either exit your short on a break above that or initiate a long above there on a stop.
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