I've set up this blog to post some of my analysis and trades. I trade the E Mini S&P futures contract based on price action, mainly PIN bars, along with support and resistance, fib retracements and divergence. I will be posting important support and resistance levels each day including some levels based on market profile.

I will also post trades that I made trading off the 5 minute chart on the ES (e mini S&P) and occasionally trades off the 1 hour timeframe although they occur less frequently.

Wednesday, 31 March 2010

Divergence


I mentioned earlier that I also look for divergence, I didn't trade this one as I was away from my computer but it is a good example. Personally I'd also like to see a PIN on the 5 minute chart but this would have been a very good trade.

You can see that price hits our 1170.50 level for a second time, as price is hitting this level both MACD and stochastics are making lower highs giving us very good divergence.
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