ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

Bearish divergence??? What frame? It certainly isn't on the 60 minute---

That's not to say that we won't go down from here. Es is bearish in general right now.
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Both 15 min and 5000 share charts.

EDIT: Also 5 min.
 
My short from 1463 is finally overwater again. It was a bad trade -- way too early -- but it's a good example of B1S2's theory that if you trade with the trend, time is on your side.
 
Quote from mbusch:

My short from 1463 is finally overwater again. It was a bad trade -- way too early -- but it's a good example of B1S2's theory that if you trade with the trend, time is on your side.
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yes. thank you for pointing that out. 60 minute still bullish though so be careful.
 
H&S negated by most recent pop. However, I'm seeing bearish divergence on multiple timeframes: 3min, 5min, 15min. OTOH, 60min looks bullish. Daily and longer look bearish.
 
This "big picture" view may help reconcile the bullish 60-min chart with the bearish charts on other timeframes.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1676228 width=800>

Click on link below for higher-res image.

Given this picture, my short entry from 1463 was certainly less than optimal. :(
 

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My view is that it is best here to have the hourly top out and give a short signal. I don't disagree with the downside bias, I just disagree with timing here. :)
 
Quote from Buy1Sell2:

My view is that it is best here to have the hourly top out and give a short signal. I don't disagree with the downside bias, I just disagree with timing here. :)
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Yeah, even I disagree with the timing here. :) Had I looked at the "big picture" chart earlier, I certainly wouldn't have entered short where I did. I may well wind up bailing from that trade at a small loss and re-entering at a better place.
 
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