S/R Emini Journal

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Quote from hpeganz:

Volente - what about the rule of 10 ? Just want to understand - Thanks :p
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thanks for the info voltente 00, i's rrrrrrrrreeeeeeeeeeeeeaaaaaaaaaaaaaalllllllllllyyyyyyyyyyy appreaciates it.

I've seen that pattern, like, a million times, but I've never been able to put my finger on how to make it work for me.

my first trade was based on that rule.

later,

jj
 
Quote from yvberj:

It's been a nice run this morn. Now it's time for a PB.
CCI is diverging on shorter TF's and at 400 - 600 on longer TF's.
There has to be at least a PB to the 50EMA.
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let's hope soo.

that's what i'm look'in at too.

but you nerver know, the markets ain't logical.

so it's up to the individual trader to design methodolog(ies) that have inherent positve expectation to take advantage of these setups as they occur.

late,

jj
 
Quote from JimmyJam:

let's hope soo.

that's what i'm look'in at too.

but you nerver know, the markets ain't logical.

so it's up to the individual trader to design methodolog(ies) that have inherent positve expectation to take advantage of these setups as they occur.

late,

jj
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I think we had a BRD on 5 minutes !?
 

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Quote from hpeganz:

I think we had a BRD on 5 minutes !?
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Dude, don't pay attention to that divergence stuff.

Those divergence trades are just indicator malfunctions ... with no statistical proof that they deliver a positive expectation when taken on a trade-by-trade basis.

That's the whole reason Traders International needed someone like Franz Shoar to come goose their garden.

What they had wasn't really getting the job done.

Later,

Jimmy

P.S. I'm feel'in a little pressure here, (on a psychological note, I'd love to figure-out why I love to get in the middle of these battles!) so I'm gonna go get me some coffey!
 
Quote from hpeganz:

What does the divergence on shorter to longer TF mean? (100 versus 400)

PB on which TF - 50 EMA or SMA?

Thanks
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Was able to pick up a quik 2 pts. Watching to get in again for more. Waiting to see what the mkt thinks of Bernanke.

The divergence that I had on the 3 & 5 min. CCI started earlier this morn. I use the 40 & 20 period CCI's. At around 7:00 AM the 40 CCI was over 400. That's a pretty high CCI. If you look back at charts you will see that even at 200 - 300 +/- almost inevitably calls for some sort of retracement. In this case it continued up 17+ pts., but the CCI never made it up above 400+. The next highest was about 300+ and has gradually gone lower. That's only discussing one indicator. The MACD is also showing divergence.

In addition. If you use Moving averages you will notice (let use the 5m chart) that there is a wide gap between the price and the 20, 50 and 100 EMA's. One way or another the price will retouch at least the 20 and preferably the 50 and hopefully the 100. This will happen one of two ways. Either, the price will drop down to the MA's or the MA's will gradually move up to the price.

With all that being said, you will also notice that price has bounced off of the 10 EMA 3 times this morning. Which is a failry nice chart formation, but, you will also notice that the volume is slowing. Threfore there is a good likelyhood that we should have some sort of a PB and then we'll see about continuation.

Hope this long diatribe is of some help to you.

Alex
 
Quote from JimmyJam:

Dude, don't pay attention to that divergence stuff.

Those divergence trades are just indicator malfunctions ... with no statistical proof that they deliver a positive expectation when taken on a trade-by-trade basis.

That's the whole reason Traders International needed someone like Franz Shoar to come goose their garden.

What they had wasn't really getting the job done.

Later,

Jimmy

P.S. I'm feel'in a little pressure here, (on a psychological note, I'd love to figure-out why I love to get in the middle of these battles!) so I'm gonna go get me some coffey!
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Ok, if the divergences in MCAD combined with RSI confirmation don´t work for you - it is ok :p
 
Quote from yvberj:

Having touble attaching chart.

Don't know why, but can't attach chart. I've got to go now. Will try later.
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It's a pretty nice setup if you're into using multiple MA's the 20 EMA is providing support even as I load it.
 

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