Support (Apex of the 16th hinge) + Selling Pressure fading + Tick Divergence = Long...
Might not be long lived...but who knows
Might not be long lived...but who knows
If You Can Draw A Straight Line . . .
- Thread starter dbphoenix
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Exit @ Resistance after the the break of the hinge seemed to fail...too early maybe...I'm learning...
Nice trade. Your charts speak for themselves. So you've plot the tickQ against the NQ and the divergence is the tick making lower lows and the NQ making higher lows?
Really a nice trade...without a proper reason to exit yet as all the LSL are intact...
This was my NQ/tickQ chart during the entry.
As dbphoenix mentioned once, the tickQ is only the icing on the cake and it can be very missleading - but this was very clear...
Edit: Btw, this should not water the original approach of the thread. Everybody who is interested will find more information about that at TL.
This was my NQ/tickQ chart during the entry.
As dbphoenix mentioned once, the tickQ is only the icing on the cake and it can be very missleading - but this was very clear...
Edit: Btw, this should not water the original approach of the thread. Everybody who is interested will find more information about that at TL.
Orders in after getting a nice series of equal highs and higher lows. Long at 3213 short at 3210. Chart in a minute.
I reversed when price took out 3210.25 at 10:06 for a small loss on the first trade. Still holding long.
Out at 3221.
Here is my chart. I went short initially because I saw a lower high form right up against over night resistance and what looked like a series of higher lows (a wedge?). When price took out the latest lower high at 3210 I reversed my position. I exited the long when price took out a minor double bottom at 3221. With slippage and the first loss I netted 8.5 points.
Nice trade Yertle!
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