ES Journal Archive (2006 - 2008)

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agree.

but I believe 2cts was referring as to the use of rsi (or any other "regular" indicator) in very short term charts only.

but whatever works for people...works...

:)


Quote from Buy1Sell2:

Using RSI is not 20 years out of phase. It is very successful and I find no reason to quit using it. There are plenty of humans tradng the market.
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Quote from thebuzzkill:

i belive we have at least another 10 points to go on this correction, and that would still be healthy for an uptrend. but b1s2's trade should work as it is at the bottom of its channel right now, so we should see a bounce into the 1376-79 area. However i would keep i tight stop on it just underneath the channel.
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Very nice call so far. Both the continuous 15 and the RTH 15 pointed their way up at yesterday's closing. That's the issue of course with " getting flat" at the end of each day especially with the round the clock access. The only time that it makes sense is on a Friday. Hopefully, my demonstratiion yesterday of taking only 1 point and choking off a trade has not been lost on all. :)
 
Any of you using the 6 pt profit target that I mentioned the other day, would have taken profit at 1377.00. I hope that no one took their profit at 1 pt like my demonstration yesterday did.
 
There has been no obvious reversal signal as of yet on the 15. Stops would be kept outside of reaction lows as we go, if using my system of trailing stops.
 
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