ES Journal Archive (2006 - 2008)

[apex82]

buying 1430.75 with a 3 tick stop if it can get down there without making new highs. Profit target of 4 points.

 

[apex82]

Quote from apex82:

buying 1430.75 with a 3 tick stop if it can get down there without making new highs. Profit target of 4 points.

Long with stop at 1429.75 1 pt stop. looking for retest of highs and then new highs. If not just a trading range...

 

[K-Rock]

fyi

1st FLASH UPDATE
S&P 500 & EMINI 01:38:09 PM EST

Cancel all orders. It is too late in the day to take this trade.

Quote from K-Rock:

OMINI

S&P 500 & EMINI (ESM7) June 07

OMNI RESISTANCE = 1438.50-1439.50 MIT

OMNI TURNS NEUTRAL IF ABOVE 1446.50

OMNI PROFIT OBJECTIVE = 1416.50

OR BE OUT BE THE CLOSE

http://www.futurestraders.com/modules.php?name=Content

 

[Charly]

Quote from romik:

A side question regarding your charts:

how good is the backtesting part of
their software?

Thanks
Charly

 

[romik]

Charly, backtesting is good there, but if you are in the US you ain't going to get that soft.

IMHO, tomorrow is going to be UP UP UP, I reckon 1450+, I wonder what will Oscar say.

 

[Charly]

Quote from romik:

Nice one JJ!

What I am going to say now, might sound strange, but I believe it to be right on the mark.

DAX in a way front-runs US near future direction, though not always. This becomes obvious after, as you have pointed out, a certain amount of screen time (especially in real-time) & understanding certain basics of German mentality as a nation.


Also, on ES I look at histogram pattern on a 10 min chart, whenever there is a rapid range expansion I would be looking to fade the move once next histogram bar closes higher than its predecessor (10 min TF) with a stop below LOD/above HOD. Histogram bars have to be closing with readings above 0.50 on 10 TF. Histogram is probably one of THE best indicators for scalping, as it provides a visual exact value, rather than an approximate one like in the case of stochastic, RSI, MACD, etc. I sold near the highs earlier today & actual entry was provided by the histogram on 1 & 2 min charts.

~~~~~~~~~~~~~~~~~~~~~

romik,

if I'm getting it right you are speaking
about HISTOGRAM as a single separate
Indicator??
If so would you let me know what it
does consist of - never heard about it
before.
Thank you.

Charly

 

[Charly]

Quote from romik:

Charly, backtesting is good there, but if you are in the US you ain't going to get that soft.

IMHO, tomorrow is going to be UP UP UP, I reckon 1450+, I wonder what will Oscar say.

Thank you -

no or rather yes I am in Europe, too.


Again you mentioned the "histogram"
presumably part of IT's software?

Charly

 

[romik]

Histogram forms part of MACD oscillator. On the charts I use they are pink bars.

"MACD can be made even more useful by incorporating a related indicator -- the MACD histogram. Thomas Aspray described the histogram in 1986. Like MACD, it oscillates around a zero line. But while MACD is an indicator based on moving averages, the histogram is an indicator of an indicator -- the MACD itself.

What the histogram shows in graphic form is the difference between the main MACD line (the 12-26 line) and the nine-period trigger line. This difference is then plotted on a scale to form a histogram, defined as a series of vertical lines. The higher the lines "grow" above the histogram's zero line, the stronger the price momentum and the more bullish the trend. The further the lines decline below the zero line, the stronger the negative the trend and the more downside pressure there is. When the MACD indicator itself issues a buy or sell signal, then the histogram is always at its own zero line."

 

[Charly]

Quote from romik:

What the histogram shows in graphic form is the difference between the main MACD line (the 12-26 line) and the nine-period trigger line. This difference is then plotted on a scale to form a histogram, defined as a series of vertical lines. The higher the lines "grow" above the histogram's zero line, the stronger the price momentum and the more bullish the trend. The further the lines decline below the zero line, the stronger the negative the trend and the more downside pressure there is. When the MACD indicator itself issues a buy or sell signal, then the histogram is always at its own zero line." [/B]

OK - that's what I expected however, I
found no way yet to use the MACD for
the DAX profitably - intraday.
To me it shows the direction reliably
but with considerable delay - at least
short term(i.e. 1 - 5 miutes).

 

[romik]

Quote from Charly:

OK - that's what I expected however, I
found no way yet to use the MACD for
the DAX profitably - intraday.
To me it shows the direction reliably
but with considerable delay - at least
short term(i.e. 1 - 5 miutes).

There are ways, I can assure you.

The 10 min histogram method that I have mentioned on DAX chart was not actually based on DAX, but on ES. If ES declines & histogram (10 min periods) goes below 0.50 & one of the next bars closes higher than its predecessor, then I will be looking to get long off 1/2 min charts. DAX, sorry I promised not to talk about it so last time , runs a lot quicker than ES, it has more pace considering $/tick value. For instance I went long ES in the afternoon & price went up 3 pts ($150 per contract) at the same time DAX went up ~18 ($598.50 per contract). I trade DAX and ES quite successfully using 1 & 2 min chart's histogram. If you continue spending time eye-balling charts in real-time, you should find a consistent method using histogram. Good luck!