Hmmm. Wacky was good.
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Divergence Trade Thread
- Thread starter VisionTrader
- Start date
Here's what I saw at the open in NQ land.
Real nice combo timeframe divergence.
Here is what the 15m was doing, and after the first 15m bearish candle formed, looked at the 1m for entry and it had a divergence set up too.
Please excuse the low quality charts, I do not know what is going on with them This has happened ever since I upgraded to Esignal 7.4
Real nice combo timeframe divergence.
Here is what the 15m was doing, and after the first 15m bearish candle formed, looked at the 1m for entry and it had a divergence set up too.
Please excuse the low quality charts, I do not know what is going on with them This has happened ever since I upgraded to Esignal 7.4
Attachments
The pullback is bouncing up against the 61% retracent now. If it heads south, will likely go to bottom.
Sorry. I'm bored.
EDIT: It's hard to see the 61% in my post, it is there though.
A move up may take it to the 50% or 61% level of the recent run down.
Sorry. I'm bored.
EDIT: It's hard to see the 61% in my post, it is there though.
A move up may take it to the 50% or 61% level of the recent run down.
Attachments
Nice trade TS. 1M works well to get your entry or plan your exit.
If I get divergence on a good fibo level, it helps with confidence to take the trade and plan an exit.
I think FIBOS are self-fullfilling prophecies. That is, they work because everybody expects them to work.
I think FIBOS are self-fullfilling prophecies. That is, they work because everybody expects them to work.
Gerald Appel article in TA of S&C.
Read thru the section where he talks about Phases of the Markets. Pg 88.
"Think about the market moving in waves. It has a flow up, a turn, and then a flow down. It would have a bottoming period and then it starts up again."
Stage 1,2, 3, 4 stuff.
Sometimes I forget this concept. I like to make money in Stage 2 and 4. In stages 1 & 3, my double tops and double bottoms are forming.
Good article. Quick read.
Read thru the section where he talks about Phases of the Markets. Pg 88.
"Think about the market moving in waves. It has a flow up, a turn, and then a flow down. It would have a bottoming period and then it starts up again."
Stage 1,2, 3, 4 stuff.
Sometimes I forget this concept. I like to make money in Stage 2 and 4. In stages 1 & 3, my double tops and double bottoms are forming.
Good article. Quick read.
Quote from VisionTrader:
Once this trade got going, it went to the bottom of the price channel, which also happened to be the 50% retracement of yesterday's high low.
Would have been a good place to book your profits, or play a reversal, etc.
Just realized I meant the high low of the day before. Anyway, you know what I meant.
Are we actually going to get back to the highs today ?
WOW
MACD is looking up, up, up on the 5m.
Wish MACD was not reaching its highs. Then we could look for double top.
WOW
MACD is looking up, up, up on the 5m.
Wish MACD was not reaching its highs. Then we could look for double top.