The ER2 Trading Journal
- Thread starter trade_4_living
- Start date
I am not quite sure if today has the highest volume though, I didn't see it from the chart. A friend of mine told me about the volume. :
I will re-look at the chart and see if the accumulation or distribution is going on. The market will break this trading range - one way or another. It won't trade from 656 to 666 range forever.
I will re-look at the chart and see if the accumulation or distribution is going on. The market will break this trading range - one way or another. It won't trade from 656 to 666 range forever.
:
Here is a look at the accumulation and distribution.
On 30 minutes 30 days chart.
The OBV indicator offered some info about if there is a divergence exists between the price and OBV. The OBV level today (209281) is much higher than Nov 03 (193050) when both traded at 666.
Under Williams AD (Accumulation/distribution) indicator, I can clearly see accumulation is going on between Nov 03 and today. There is a divergence between Williams AD and the price. Williams AD's level today (296) is much higher than Nov 03 (265). As with most indicators, when a divergence occurs between WAD and the price, the price usually changes accordingly. So I would say it has a very decent chance to break to the upside.
But OBV is below the 8 SMA line, WSAD is about to break 8 SMA line too, dipping to 656-657 level is still possible.
Look at this chart here: http://tinypic.com/view/?pic=fjzxwl
or see attachment.
I will look at other timeframe.
On 30 minutes 30 days chart.
The OBV indicator offered some info about if there is a divergence exists between the price and OBV. The OBV level today (209281) is much higher than Nov 03 (193050) when both traded at 666.
Under Williams AD (Accumulation/distribution) indicator, I can clearly see accumulation is going on between Nov 03 and today. There is a divergence between Williams AD and the price. Williams AD's level today (296) is much higher than Nov 03 (265). As with most indicators, when a divergence occurs between WAD and the price, the price usually changes accordingly. So I would say it has a very decent chance to break to the upside.
But OBV is below the 8 SMA line, WSAD is about to break 8 SMA line too, dipping to 656-657 level is still possible.
Look at this chart here: http://tinypic.com/view/?pic=fjzxwl
or see attachment.
I will look at other timeframe.
Look at the OBV indicator on the weekly chart (remove daily noises), I can clearly see there is a divergence exist between OBV and the price. Can you see it too? The OBV is higher high, but the price is not.
http://tinypic.com/view/?pic=fk0bd3
http://tinypic.com/view/?pic=fk0bd3
But again, the overall market has to cooperate. I'll look at the YM/ES/NQ AD indicators tonight. YM/ES/NQ could have no divergence or have negative divergence. Maybe YM/ES/NQ are dragging ER2 not to pass 666. If YM/ES/NQ go down, ER2 won't go up.
YM chart:
YM chart shows negative divergence between OBV/AD indicators and the price. The price is going higher, but OBV/AD indicators are not. If the market goes down, short YM.
This is the daily YM chart, the AD indicator looks like more accurate than OBV.
http://tinypic.com/view/?pic=fk3z85
YM chart shows negative divergence between OBV/AD indicators and the price. The price is going higher, but OBV/AD indicators are not. If the market goes down, short YM.
This is the daily YM chart, the AD indicator looks like more accurate than OBV.
http://tinypic.com/view/?pic=fk3z85
YM weekly chart.
Again shows negative divergence between the price and OBV/AD indicators.
http://tinypic.com/view/?pic=fk3zo5
Again shows negative divergence between the price and OBV/AD indicators.
http://tinypic.com/view/?pic=fk3zo5
ES's weekly chart:
Just like YM chart, ES's weekly chart shows negative divergence between the price and AD indicator.
The weekly chart:
http://tinypic.com/view/?pic=fk41fa
ES's daily chart didn't show much on the divergence, in fact, the MACD showed very strong. In this case, I think one should go with the weekly chart?! ES remains a good short if the market turns red.
The daily chart:
http://tinypic.com/view/?pic=fk4305
Just like YM chart, ES's weekly chart shows negative divergence between the price and AD indicator.
The weekly chart:
http://tinypic.com/view/?pic=fk41fa
ES's daily chart didn't show much on the divergence, in fact, the MACD showed very strong. In this case, I think one should go with the weekly chart?! ES remains a good short if the market turns red.
The daily chart:
http://tinypic.com/view/?pic=fk4305
On the daily chart, NQ has a higher high AD lines, it also has a higher high prices. So basically see no obvious divergence. 1630s was traditionally a resistence area.
NQ daily chart:
http://tinypic.com/view/?pic=fk451z
However, under its weekly chart, one can easily see there is a negative divergence between the AD/OBV lines and the prices:
http://tinypic.com/view/?pic=fk45tx
NQ daily chart:
http://tinypic.com/view/?pic=fk451z
However, under its weekly chart, one can easily see there is a negative divergence between the AD/OBV lines and the prices:
http://tinypic.com/view/?pic=fk45tx
This 10 day 30 minutes YM chart puzzles me. YM price went up from 10387 to 10560s. The Money flow indicator shows the money flow has been declining for the past week. The WSAD (Williams Accumulation/Distribution) shows steady increase in accumulation. Does it mean no real buyers and only short squeeze pushed the index higher?