are divergences really worth anything?
- Thread starter Gordon Gekko
- Start date
Quote from hoodooman:
I,m not asking your advice. I don't trade bottoms.
It should be obvious to you and everyone else on this thread that I'm trying to see if you really know anything or not.
regards
Point taken.
However...your more than welcome to find out in realtime or re-read some of my prior message posts...
if such doesn't convince you...
Your welcome to come to the conclusion that I know nothing about divergence nor anything else about trading.
I won't try to convince you although that wasn't my intentions
NihabaAshi
I just took a quick look at ESRX.
I don't see a divergence...can you post a chart of exactly what you saw for everybody here that trades stocks or interested in ESRX
You mentioned you used stochastics although you gave no setting nor any particular chart interval info...
I took a peek at ESRX via your stochastic and I plugged in a 6,5,3 setting via a 3min chart because it looks pretty on ESRX
I don't see any bullish divergence...maybe its been a long day and my eyes are somewhat tired.
Edited In: I see them now some bullish divergence signals via a closer look based on stochastic 6,5,3 on the 3min chart.
By the way...ESRX is a horrible looking chart...mainly because the base of most of my trades require candlestick confirmation.
1224pm est: False bullish divergence signal via no candlestick confirmation and occuring after a rising doji (not a good sign for the weak buyers...easily shaken out of their shares).
1306pm est: Valid bullish divergence signal via strong white line confirmation @ 56.96
you could have exited for profits between 57.09 - 57.15 at candlestick resistance...still a profit...right?
1515pm est: Strong white line tha engulfed the prior candlestick...strong white line @ 56.97
you could have exited at the bearish hangman @ 57.11 when it failed to reach nearest candlestick resistance...still a profit...right?
Once again...the above after-the-fact comments are based on the fact that you said you use stochastic and based on the fact that I like to use the 3min chart interval.
Thus, I figure it was ok to post hindsight comments as you did when you said ESRX divergence failed.
Also, if ES or NQ looked like ESRX chart (reference to candlesticks)...
I would find something else to trade with clearer intraday candlestick patterns.
Last of all...I'm still not trying to convince you of anything...I'm simply posting details about what I saw in hindsight on that ESRX chart...
to get your input when you do a comparison to what you saw when you said it failed.
P.S. I'm too lazy to take a look at APOL.
Talking in hindsight is a lot easier than realtime trade posting
1021am est: ESRX Bearish Divergence signal @ 58.10...however...we seem to be only talking about failed bullish divergence signals...price action only...no indicators...
maybe covering at one of those valid bullish divergence signals that's mentioned above
NihabaAshi
Hoodooman,
I change time frames according to a market situation but most of the time I use 15 min charts for a trend direction and 2 min charts for entries. For daytrading, of course .
If I want to hold for a couple of days I use 30 min and 5 min respectively.
Should you care to post specific symbol you are interested in ,I can explain better .
Walter
I change time frames according to a market situation but most of the time I use 15 min charts for a trend direction and 2 min charts for entries. For daytrading, of course .
If I want to hold for a couple of days I use 30 min and 5 min respectively.
Should you care to post specific symbol you are interested in ,I can explain better .
Walter