I did not have any time this morning before work to do more than just take a peak at a few charts and hit the road running. But lunch time was better so I decided to sleuth around for something to trade while I ate my lunch.
|Click on the chart to ENLARGE|
With less than an hour of free time to work with I decided to take a good hard look at some futures contracts and ended up on the E-mini S&P 500 (ES).
After a short while what appeared to be a promising negative divergence showed up on the 1 minute chart. So I made a trade to short (sell) the S&P at $1132 with 2 contracts at 12:57pm. 13 minutes later I covered (bought back) the 2 contracts at $1130 after a trend line break finally materialized.
As I still had more free time I decided to keep watching the ES and see if something else may provide another quick trade. Sure enough, within 15 minutes another negative divergence appeared so I sold 2 contracts again - this time at $1133.25.
I had a trend line drawn on price and this time the negative divergence occurred closer to the price trend line and closer to the TSI ZERO crossover. Within 2-3 minutes price tested then dropped right through the trend lines just as I had anticipated.
My students started piling into my classroom just a couple minutes later than usual and as a trend line break of the TSI appeared to be in place I covered at $1128 and called it a day.
I wish it was always so easy. Don't you?