S/R Emini Journal

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Quote from romik:

there is a bullish divergence in the making on 5 min chart, I'll let you know if that happens for reversal signal, all the best
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divergence players rule when the markets trade back-and-forth

:)

(just to let you know I'm not one of them, but they still catch a lot of good trades at their turning points)


jimmy
 
yes JJ, B1S2 is REALLY good at that, very experienced trader.

The way I do this is to follow oversold/overbought and simply look out for divergences on 1 min followed by 2,3,5 and when 5 is complete I will enter into the trade and monitor rsi/macd xovers/histogram on 10,15 min time frames. If you look at what happened earlier on is exactly that.
 
I hear your romik.

I monitor different timeframes when trading as well. But I'm just looking to get the middle piece of the trade, after a new trend has been established (just call me Mr. Pullback, yawn).

Definitely not the rocket science approach to trading, but it sure is consistent ... and with the vols coming back into the market (check out the vix,vxo, vxn), any approach that can hop aboard a trend is gonna be making money.

I keep track of divergencies to determine where the market "might" turn, but it's just for information/reference, (because if a market is trending hard, that divergence is gonna get blown out of the water) ... having said that, if you're still riding this trade, wow! :)

Best,

Jimmy
 
...because that's what will happen to a lot of pullback traders, the train will leave the station and never look back on the really strong moves.

Perhaps a good approach, once you have your method "down pat" and can consistently produce results with it, is to run a portfolio of different approaches (at least two) to futures trading, trading the different instruments (we got at least what, 4?) according to each methods individual criteria... hmm, might work.

Best,

Jimmy
 
Quote from romik:

out now, as this could be reversing now
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Good call. I got out a while ago. Looks to still have some punch to it though.
 
Quote from tt1452:

Are you using pivot points to arrive at your S/R levels?

thanks,
b
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Nope, when looking at true S/R levels they can be caused by a bunch of different reasons. Maybe people play pivots or Fibs. It doesn't matter. If the support or resistance is strong wnough to be seen then I use it. But I don't have to keep checking to see if it is a pivot or Fib.
 
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