Cobra's Market View

Tried to upload the pic, but getting error message. Site wants png file vs jpeg. At any rate, nice RSI5 pos divergence on SPY daily, and monthly S1 held. If SPY can't get lower early next week, I expect a rally to challenge all time highs.

Anyone worked with Pivots? Added them to this one minute SPX chart. Bounced off the first support pivot.... Wouldn't trade without them and VWAP. Eddie, do you put VWAP on all your charts or do like it best on one time period, like 5 minutes? Do you use stockcharts and their VWAP? Thanks for the in...

te_fern wrote:Anyone worked with Pivots? Added them to this one minute SPX chart. Bounced off the first support pivot....

Wouldn't trade without them and VWAP.

I'm struggling with my trading. For fiscal 2017, my new trading system is 47-5. Of the 5 losses, most were tiny under 5%. Only one was a max drawdown (a 25% loss). All the winners are 10% or more. My total profits are around 1500% on the year. But I have problem. I have a full-time job and it keeps...

Trades with cats wrote:Confidence Builder, I have a long signal on ES that is going nowhere and a short signal on the TF that is going nowhere. Somebody is going to be wrong!

Maybe Cobra's ascending triangle breakout wins out.....

Gotta break through ES EMA 20 on 5 min first though. That level has held all day.

Cumulative TICK has been trending lower since about 11:30 while price has traded sideways to higher. Not giving me a lot of confidence to get long. Maybe we trade down to VWAP at ES 2335.25 at some point. First test of that level should be a decent quickie at the least.

Was trapped long ES 2360 most of the day. Just exited unscathed.With Queen Janet speaking after hours, didn't want to hold overnight.

BullBear52x wrote:

Eddie wrote:

BullBear52x wrote:bears still want to see <306 on /ES or it ain't gonna pay.

Curious where you have your stop placed. Would be educational for me.

SPX 2314
/ES 2310.5

Many thanks.

BullBear52x wrote:bears still want to see <306 on /ES or it ain't gonna pay.

Curious where you have your stop placed. Would be educational for me.

Neg RSI5 divergence on ES 30 min chart now erased on that last thrust higher, but sitting at a smoking hot 91

Second Neg D. coming up, this is the thing about trend day once the divergence failed you will have to be fast(super fast ) to tag along the first key counter trend failed. now you will have to decide the same move or wait for the buy failed. I think most of us see all this just when to make move a...

Second Neg D. coming up, this is the thing about trend day once the divergence failed you will have to be fast(super fast ) to tag along the first key counter trend failed. now you will have to decide the same move or wait for the buy failed. I think most of us see all this just when to make move a...

I tried that short trade at 98.75, with a tight stop, which was run at 99.75.

BullBear52x wrote:

Eddie wrote:Pretty sizable neg RSI5 divergence on ES 30 min chart, but until price gets through VWAP and R1 (now support) I'm not shorting this.

Counter trend is dangerous, last one failed already.

wait for new setup.

Daily R2 at 98.75 should be good for a short scalp. Wouldn't marry it though.

Pretty sizable neg RSI5 divergence on ES 30 min chart, but until price gets through VWAP and R1 (now support) I'm not shorting this.

A trade that has worked will for me lately is to keep an eye on RSI5 on the 30 min ES chart - when it gets below 20, buy when there is a BB52 clockworks buy signal.

On a positive note, I took some licks learning to trade ES. I can still get a lot better, but my account is back to even. I'll call it tuition. Thanks to all to post educational stuff here, especially real time trading signals.

Bears fail at every turn. Nothing remotely bearish about this market. Perfect chance today to have a range breakdown. Just turned out to be a false breakdown with a move back near the range high. At some point, yes, bears will have their day, but you can't trade that.

Note to self: don't short this market lest I want to end up like jademan and out of bounds