ES Journal Archive (2006 - 2008)

[elovemer]

....vertigo.....
..... another 2 min bull divergence.... class B ..... because 2nd price low is not lowER.....
.... just below B1S2's claimed entry point....

 

[HolyGrail]

Ready to go long at 39.50

 

[JSSPMK]

Quote from elovemer:

....vertigo.....
..... another 2 min bull divergence.... class B ..... because 2nd price low is not lowER.....
.... just below B1S2's claimed entry point....

that is not a valid divergence, indicator is confirming p/a

 

[satchel]

The worst thing IMO would be to BO here. As close to 34/35 as possible. Timing not right for me.

But I don't make the rules : )

 

[elovemer]

.... it is 2 min ....
.... 2nd indicator low is higher low not same.....
....price is same....
....class B....

....class A would be price lower not same
.... would you agree ?

Quote from JSSPMK:

that is not a valid divergence, indicator is confirming p/a

 

[JSSPMK]

Quote from elovemer:

.... it is 2 min ....
.... indicator low is higher not same.....
....price is same....
....class B....

....class A would be price lower not same

i don't know about classes of divergences, but in essence a divergence is when an indicator (in bullish example) has to make higher low when price is either makes a lower low or double bottom, in your example indicator made a higher low and so has the price, so where is divergence?

 

[elovemer]

... in my example.....
the indicator made a higher low...
.... and price was exactly the same ... not higher....therefore class B (not as strong as when price makes a lower low)
..... for price.... i look at the red bars.... not the green bars.....
... the red bars accompany the lows of the indicator..
..... the green price bars accompany the highs of the indicator....
:0)

Quote from JSSPMK:


in your example indicator made a higher low and so has the price, so where is divergence?

 

[JSSPMK]

1536.25 and 1537.50 or is that too close, hence you say same price?

 

[vertigo3]

elovemer,
I appreciate the chart, really, because to me, this is all just chop and I need to develop some sort of super short-term scalping technique to keep the gray matter occupied. And I will be studying measures relative to your chart.

I say this is chop zone for the following reason. Just to give myself an understanding (price) of whether there is real conviction to bulls or bears, everyday, I take the 24hour pivot point (today 1541.67) and both add and subtract Toby Crabel's stretch to create the battle-line, a chop zone where neither bulls nor bears seem to have the upperhand.

today that zone is
1541.67(PP) +/- 3.45(stretch) = 1545.12/1538.22

Also, Unless we've all forgotten, this is the Thursday before quarterly expirations, sometimes these days can be full of chop.

... and before all the opinions start to filter in, I am not claiming that these observations are the holy, sanctified and singular method for determining futures market analysis. There are many factors that influence price action, including the fact that they don't write instructions on a dollar bill (as to how to trade futures) and simply having enough money to open a futures trading account does not in any way warrant that the titled name on that account has any proficiency trading futures. It's easy to trade futures, it's just hard to make money doing it. All opinions expressed are those of the author and he accepts (under any and all circumstances) no liability for correctness, and in addition; he is not responsible in any way for the money you might lose by employing any methods described herein, furthermore... (disclaimer too big to be posted)

 

[elovemer]

.....on my 2 min chart.... those 2 red bars show a low of 37.50 .....
.... my chart does not show first low as 36.25 ...... hmmmm

Quote from JSSPMK:

1536.25 and 1537.50 or is that too close, hence you say same price?