I remember the question, but do not remember the exact response I gave. I will tell you this though--I believe it has a lot to do with the post I made recently about not discounting the bullishness of the weekly chart(you could include daily in that as well). You may recall from that post that I asserted that bullish intraday signs would generally be stronger than bearish ones. In fact, it could be argued that only longs should be taken during uptrend.
ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
- Start date
- Status
I remember the question, but do not remember the exact response I gave. I will tell you this though--I believe it has a lot to do with the post I made recently about not discounting the bullishness of the weekly chart(you could include daily in that as well). You may recall from that post that I asserted that bullish intraday signs would generally be stronger than bearish ones. In fact, it could be argued that only longs should be taken during uptrend.
Until the weekly chart signals obvious reversal or begins to trend down, or the daily chart signals obvious reversal or begins to trend down, I will only be taking longs on the daily and intraday charts. I will skip the short signals. It will take patience, but I believe is the best course. 
Quote from Buy1Sell2:
Until the weekly chart signals obvious reversal or begins to trend down, or the daily chart signals obvious reversal or begins to trend down, I will only be taking longs on the daily and intraday charts. I will skip the short signals. It will take patience, but I believe is the best course.
Have you looked at NQ, YM, ES & AB over the last 10 days or so? IMO according to intraday price action a pullback is pretty ripe, so would it be right to exclude short trades, purely because weekly remains bullish? Could you please post your opinion on all 4 indexes if you have some time? Thanks. I'll post all 4 charts here.
EDIT: I'll re-phrase it by saying that there seems to be a call for a pullback in YM and AB, but not in ES and NQ.
Also if somebody could explain to me differences between NAS Composite and NQ as their charts are not in agreement IMHO, as NAS is way above the low trendline and NQ is sitting @ support trendline.
Thanks all.
Just wanted to mention this here B1, I've started testing grail based entry/exit on all 4 futures, basically if there is a long set-up on all or 3 out of 4 charts, then 4 long trades are open, I'll post some stats at the end of this short week. Back testing shows that a lot of the times signals present in ES coincide with NQ, YM and sometimes ER2, kinda cuts out guess work on which index is going to lead today and obviously one set-up present in all indexes is a lot more reliable (in theory).
- Status