ES Journal Archive (2006 - 2008)

m4a1 · Nov 8, 2006

945 to 1145: during this time period why didn't you feel the market was reversing?

Edit: 15 min chart

romik · Nov 8, 2006

I have a RL @ 1390.25 now plus short grail on 5 now

Buy1Sell2 · Nov 8, 2006

Quote from m4a1:

945 to 1145: during this time period why didn't you feel the market was reversing?

Edit: 15 min chart

The method has been described in the journal. It is now up to you to decide if it works for you or not. I cannot take anyone any farther. It's your method to use (not sell) if you desire.

brightstone · Nov 8, 2006

and on three minute
15 minute unclear

Quote from romik:

I have a RL @ 1390.25 now plus short grail on 5 now

romik · Nov 8, 2006

Quote from brightstone:

and on three minute
15 minute unclear

I would exit long at a break of that level, whether short grails would or not trigger reversal is a BIG Q, therefore just hold for now. You'll bank quite a few points anyway. This has no relation to the stats that I post daily, as I monitor taking ALL signals.

Buy1Sell2 · Nov 8, 2006

The method works for me. It may not work for you.

volente_00 · Nov 8, 2006

Nice trade B1, I admire your patience.

Buy1Sell2 · Nov 8, 2006

Quote from volente_00:

Nice trade B1, I admire your patience.

Thanks very much Vol.

romik · Nov 8, 2006

Today's results (Daily range 13.00 pts):

Short 1382.75 (8.40am) +0.00
Long 1382.75 (9.20am) +2.00
Short 1384.75 (11.35am) -0.25
Long 1385.00 (1.30pm) +6.75
Short 1391.75 (2.45pm) +1.00
Long 1390.75 (4.05pm) +1.00

Total: +10.50

All entries are solely based on grails in RSI on 5 min TF and a simple line chart.

N.B. THERE IS 1 LONG ARROW MISSING (1.30PM)

RSI Grail Reversal on 5 minute time frame

Stats after 8 days testing:

Total trades - 49
Winners - 27 (+66.00 pts)
Losers (including B/E trades due to commission) - 22 (-23.00 pts)
PnL - +43.00 pts Net
P/F - 2.66
% winners - 55.10%

romik · Nov 8, 2006

Quote from Buy1Sell2:

Everyone keep in mind--the trade that I have on is severely antitrend(hourly 240 etc). It is struggling to make a profit as you can see. I will not get out or reverse until the 15 gives me an obvious signal or the reaction low is breached to my satisfaction

There was a short grail pattern on 15, but I believe it happened after your PT's been reached, if it wasn't, would you have considered that as an obvious reversal signal. You did say on 15. If it wasn't what would you class an obvious one, could you please post an example of THE one.

My take on this is IF you haven't had reached your PT by the time that pattern occurred on 15, you would have waited for your reaction low (daily low) to have been taken out, as hourly was still bullish, so pullback - yes, reversal - perhaps not.