ES daily chart:
Still holding Wednesday's long ES from 1075.50 based on trendline/oscillator buy signal, don't see any wavering from that system so continuing to hold long. Only adjustment will be to the S&R which will be moved up to 1070.00 on Sunday night's open. The stop & reverse is disaster protection only, so it's level is placed well out of reach of any likely stop running games by the MM's.
It's been my hope to employ Vindicator information in two ways:
1) to help time entries and exits signaled by the trendline/oscillator system for more optimal executions;
2) to pyramid positions held via the trend/osc system and thereby boost returns.
The first idea was employed to time Wednesday's entry. The buy signal off the trend/osc actually came at mid-day on Tuesday, but the 30 minute V Stoch was close to overbought at the time so the buy signal was put on hold pending readings on the V Stoch that were close to or in the oversold area. That situation developed around mid-morning on Wednesday and precipitated an ES long entry. However, Murphy (as in Murphy's Law) was at work at the time and although the market bounced around above the ES entry for the next little bit it eventually headed south in the early afternoon. The V Stoch was in the process of establishing a second oversold reading by the end of the day, but that double bottom preceded a nice move up. All in all the use of the V Stoch in this instance didn't really improve the long entry but only because of an uncommon double bottom in the V Stoch. The short track history of the V Stoch shows that a double bottom or top is rare, so this instance may be the exception that proves the rule.
The idea of pyramiding a base trend/osc position will be tried when conditions are favorable and that trade will be publicized and explained when it happens.
