ES Journal Archive (2011)

[JoshDance]

For any market indicator, whether it be a/d, tick, etc., or whether it's an rsi, macd, etc., for it to be useful there must be some divergence that can be found between the indicator and price. In other words, if the indicator always moves with price, then it's simply redundant and does not tell you anything that price is not already telling you.

That being said, do you (bigsnack and other TICK users) find divergences between TICK and price? I'm looking at my chart and cannot off the bat see anything which I would identify as a useful divergence from price that would tell another side of the story. Any examples or useful info would be appreciated!

 

[keeptradin']

Quote from Picaso:

Re-test at 14-15 and then short?

Edit: 13-14

IMO we need a fakeout breakout to 1213 and failure at that level, just enough to run the stops, then short looks like a good move.

We've been trading in a channel between 12.50 and 09 on low vol for 45 minutes, something's gotta give soon. The coiled spring effect.

 

[gmst]

Quote from gmst:

I think its going to end higher and won't go lower than 1209. So changing my trades. Will take only 1 trade today.

Edit: stop 1208.5, target 1224/25

very very painful, but I moved the stop to 1206.5, got out for loss of 100 bucks.

Again attempting long, trade entered at 1211.5, wide stops and target.

Another thing that should favor long here fundamentally is the expectation of IMF doing something this weekend for Europe

 

[keeptradin']

Quote from gmst:

very very painful, but I moved the stop to 1206.5, got out for loss of 100 bucks.

Again attempting long, trade entered at 1211.5, wide stops and target.

Another thing that should favor long here fundamentally is the expectation of IMF doing something this weekend for Europe

The first loss is always the smallest. Plan your trade and trade your plan.

 

[Picaso]

Quote from JoshDance:

For any market indicator, whether it be a/d, tick, etc., or whether it's an rsi, macd, etc., for it to be useful there must be some divergence that can be found between the indicator and price. In other words, if the indicator always moves with price, then it's simply redundant and does not tell you anything that price is not already telling you.

That being said, do you (bigsnack and other TICK users) find divergences between TICK and price? I'm looking at my chart and cannot off the bat see anything which I would identify as a useful divergence from price that would tell another side of the story. Any examples or useful info would be appreciated!

IMV divergence is information; so is lack of divergence.

TICK is also an oscillator, so it helps to find lower risk entries when price isn't offering any significant pullback (by entering on a pullback in the indicator with an otherwise insanely tight stop)

 

[dax3k]

I am going heavily long here. I think 1300 by mid next week is very likely.

 

[keeptradin']

Short ES @ 12.25, target 1209, stop 14.00.

EDIT: target 1209.50.

Moved stop to 13.50. (11:10)

Moved stop to B/E (11:13)

 

[gmst]

I think LOD is done. We going to go up from here. If I am wrong, it will tell me to trust my market read a little less.

 

[keeptradin']

Quote from keeptradin':

Short ES @ 12.25, target 1209, stop 14.00.

EDIT: target 1209.50.

Moved stop to 13.50. (11:10)

Moved stop to B/E (11:13)

Covered short @ 10.25 +2. Should have had continuation to lows sooner, support came in @ 09.75.

Leaving money on the table but not going to be greedy.

EDIT: And THERE WE GO...LOL!! Big spike down on large vol, gotta love it!!

 

[mastacoli71]

well, i should have known...as soon as i sold some 1210 puts to cover more contracts

anyone use price histogram? i brought it up for the first time in IB. 1211 has the heaviest volume today