The current configuration is another evidence that one should not enter a trade too early (unless one just takes swings in shorter time frames).
The 60mins chart is now on its strong resistance level, and it would maybe have been wise to be patient and not jump into reversing short too early. ES is still quite resilient anyway, particularly on daily and weekly charts, so only agressive traders will have a go at a short now even if a retracement is imminent.
We will however notice that the 60mins MTFS does not indicate a clear reversal yet, and the daily onehas not peaked yet even if seriously overbought. Shall we therefore see 875 being hit first ? That's a scenario that has been mentioned already in previous reports.
Note on tick charts (8 AM UK) a short is under way.
ER (TF): exact same configuration.
ER should technically retrace on stall level (468), but we'll cautiously wait for a red bar first.
( posted 8:05 AM UK )
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Technical description of my TradeStation Trading Toolset (voisin DOT bruno AT gmail DOT com)
Welcome!
Welcome to TS-Trading-Technique,
where technical details will be published for my TradeStation trading toolset, developed over the years (well... been using TradeStation since 1993...). It is not quite an end product, not quite work in progress either. It does work, and this technique is both the completion of Phase 1 (working toolset and API), and opens the door to both developments of advanced A.I. tools outside TS (which I may eventually release as well as "Phase 2"), and the development of more advanced indicators within TradeStation. Note that since most of the complex calculations are done in the DLL, none of the indicators are protected, allowing the user to further develop indicators in EasyLanguage.
A common question is: Why don't you just write a documentation!? Well, maybe i'm lazy, maybe I think it is a waste of time since nobody ever reads docs, and maybe I believe this bit by bit teaching and coaching is the best way for you to absorb, digest, and finally make this technique your own...
This ''blog" complements the MarketSnapshot public blog, which will be now dedicated to daily/weekly screenshots and market comments. Another private blog exists, and specific chart analysis can be arranged: voisin.bruno AT gmail.com or with Skype (leave a message on "foretrade")
Google Group now also open:
http://groups.google.com/group/ts-tt
RSS Feed: http://feeds.feedburner.com/MarketSnapshot
where technical details will be published for my TradeStation trading toolset, developed over the years (well... been using TradeStation since 1993...). It is not quite an end product, not quite work in progress either. It does work, and this technique is both the completion of Phase 1 (working toolset and API), and opens the door to both developments of advanced A.I. tools outside TS (which I may eventually release as well as "Phase 2"), and the development of more advanced indicators within TradeStation. Note that since most of the complex calculations are done in the DLL, none of the indicators are protected, allowing the user to further develop indicators in EasyLanguage.
A common question is: Why don't you just write a documentation!? Well, maybe i'm lazy, maybe I think it is a waste of time since nobody ever reads docs, and maybe I believe this bit by bit teaching and coaching is the best way for you to absorb, digest, and finally make this technique your own...
This ''blog" complements the MarketSnapshot public blog, which will be now dedicated to daily/weekly screenshots and market comments. Another private blog exists, and specific chart analysis can be arranged: voisin.bruno AT gmail.com or with Skype (leave a message on "foretrade")
Google Group now also open:
http://groups.google.com/group/ts-tt
RSS Feed: http://feeds.feedburner.com/MarketSnapshot
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