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This "big picture" view may help reconcile the bullish 60-min chart with the bearish charts on other timeframes. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1676228 width=800> Click on link below for higher-res image. Given this picture, my short entry from 1463 was...

H&S negated by most recent pop. However, I'm seeing bearish divergence on multiple timeframes: 3min, 5min, 15min. OTOH, 60min looks bullish. Daily and longer look bearish.

Not yet confirmed... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1676193>

My short from 1463 is finally overwater again. It was a bad trade -- way too early -- but it's a good example of B1S2's theory that if you trade with the trend, time is on your side.

Both 15 min and 5000 share charts. EDIT: Also 5 min.

Ouch, taking some serious heat here, but the bearish divergence still looks compelling. I definitely failed to wait for confirmation of the turn, however.

Short again from 1463

Covered at 1454. Now flat.

Short from 1458.75. (Trading what I see, not what I thought.)

Diamond reversal in pre-market, anyone? <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1675940>

60-minute chart looks decidedly bullish if you look at only RTH, but the bullish divergence is spoiled if you consider the AH decline. 4-hour chart is ambiguous. Daily and weekly look bearish, and monthly looks extremely bearish. Consequently, while a short-term pop is possible early in the...

We hardly have a choice when there is a lady in the room. :)

Ah, you noticed! :) Different account, different tactics. The trades you are referring to have been position trades in my IRA account, not daytrades in my commodity trading account. In the past, my IRA has been quietly invested in a collection of mutual funds with very few transactions...

B1S2, could you discuss that chart a bit? I was watching the 5-minute chart in real-time as things unfolded Friday. I saw the MACD divergence, but it wasn't confirmed with a definitive RSI divergence; you'll note that at the final two highs, the RSI was just about the same. Since it's not...

Wow, the whole day's work undone in the last 30 minutes. Sure glad I got out of my longs when I did. Sure sad I didn't get short. I guess everyone was waiting for 1480-something or 1490-something with their sell orders, and the market certainly wasn't going to make it that easy. Have a good...

Caught a few, but there are more up there. Can't you just hear the sucking noise from up above?

Thanks!

If we run stops at 1478, we get to 80+ and we start getting real interested in the short side.

Bruce published several books. Any one in particular that you recommend?

I sold my long at 1474 because I wanted to leave a little for you. :D