ES Journal Archive (2006 - 2008)

I have used the hourly bearish divergence signal with RSI and histogram here to add one more unit short at 1314.25 . This is for the positional account--now 8 units short. Only adding one at this time.

 

12 minute chart gives a sell signal at the end of the 10.06 bar 1312.00.

 

Buy signal was generated at the end of the 10.42 bar (10.58) using 12 minute charts. (Double bottom RSI and class B bullish divergence). Price 1312.00 --60 minute chart at the moment is still bearish , showing just a pullback sfrom the down trend so far.

 

My secondary system points to a LONG for the day, but I will not be rushing into it.

 

I would fully expect bears to make attempts at 1300 again in the near future.

 

Sell signal generated on the 12 min chart at 1312.75 at the end of the 11.06 bar. 60 minute still has bearish tilt at the moment.

 

I am long here

 

long

 

Buy signal generated on the 12 minute chart at 1313.75 11.18 bar. successive higher trough in RSI. 60 minute bar finished on high note after swinging lower on the downside. That's a good sign for long as well.

 

Any price target on the long side?