ES Journal Archive (2006 - 2008)

m4a1 · Nov 1, 2006

long grail + bounce off RSI 30?

Buy1Sell2 · Nov 1, 2006

Quote from m4a1:

long grail + bounce off RSI 30?

That's part of it.

m4a1 · Nov 1, 2006

and bounce off lower price band?

what is that band btw?

Buy1Sell2 · Nov 1, 2006

BY the way, long grails have already appeared on the 3 minute today albeit without divergence. Was there divergence yesterday?

m4a1 · Nov 1, 2006

i don't see divergence for the part labeled long grail.

Buy1Sell2 · Nov 1, 2006

Quote from m4a1:

and bounce off lower price band?

what is that band btw?

It's the 2 std dev Bollinger Band. The bounce, while essential to review, is the least important aspect of the chart.

m4a1 · Nov 1, 2006

and price is very close to the reaction low?

Buy1Sell2 · Nov 1, 2006

Quote from m4a1:

i don't see divergence for the part labeled long grail.

Grails don't have to have divergence to be successful. They can be stronger that way though. The middle long grails do have divergence.==perhaps a quintuple by some traders accounting. I personally see a divergence spread out from the first long grail to the middle long grail and it's a class A. One thing about my method that I have mentioned a lot of times, is that I like space between the RSI troughs.

Buy1Sell2 · Nov 1, 2006

Quote from m4a1:

and price is very close to the reaction low?

hmmm-- I don't really look at that except whe that happens of course your risk management is a little less intensive (stop isn't as far away).

Buy1Sell2 · Nov 1, 2006

Quote from tradequicker:

zoom out not in.....don't micro trade.....short charts not best for intraday trading............

Gary, the analysis here is done for the benefit of those who do use short term charts. That's all. Thank you for your post however and keep them coming. They are interesting.