The ER2 Trading Journal

Quote from trade_4_living:

And this is the ER2 and ES chart in the morning. ER2 always trades above ES on 1 minute chart when the day is bullish, when both get a kiss, buy ER2. When the day is bearish, ER2 always trades below ES on 1 minute chart, short ER2 when they are touched.

This comparision also tells you if the market is bullish or bearish. If ER2 always bounce up after touched ES, it is bullish.

This is the morning chart:
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how did that do yesterday..er2 remained weak compared to ES yesterday even with the reversal rally...
 
The chart compares the relative strength of the price actions. What you saw were the actual price actions, but if you look at the combined chart, it still consist with that logic. ER2 always overracts, if the market is bearish, ER2 is even more bearish, if the market is bullish, ER2 is even more bullish.

Here is yesterday's 1 minute chart. You can see, ER2 was way below ES in the morning when the market was bearish. As the market getting bullish, ER2 has been traded above ES all afternoon.

The morning session:

http://www.tinypic.com/view/?pic=flax7a

The afternoon session:

http://www.tinypic.com/view/?pic=flbhtu


Quote from lynx2004:


how did that do yesterday..er2 remained weak compared to ES yesterday even with the reversal rally...
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Holiday, ES is trading like after hour or overnight :-) open interests and float makes a difference. ER2 has much smaller open interests and much smaller trading float.

ER2 has been moving up and down, ES remain within 0.50 to 1 point for the past hour.



Quote from K.C.:

Have you guys seen a range in ES like today. I don't recall ever seeing anything like this.
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