I will use it for retracements in trend. 23, 38, 50, 61, and the trend killer 75. But I only use it as a means of confluence. never as a reason to enter
It was a textbook reversal area under 3800 and a good long trade. I wouldn't use the term "oversold" and "overbought" though. I think thats where u rub people the wrong. Its more of a newb term and everyone wants to feel like they know more than you. If you are using a confluence of factors...
Triple divergence on the 15 min charts. Last time we got on, it was on the 2 hour chart a week or so ago, and then market died hard. If we can push through this level, we have some more upwards movement to go
stupidity. Figured price was gonna do the same thing it did a week ago when we had that big bullish day. Things tend to happen in 2’s. Didn’t take a full stop out so that’s good I guess
Anybody else surprised by the bullishness today? My daily analysis and daily plan didn’t take into account any price above 3645 on the day. And here we are at 3700
Neither have I. I usually want to see 2 hours of price action after the open. My thought process is if I wanted to go long / short right near the open, the setup would have had to have been there on Friday and I'd have held through the weekend