Support 3 is at 663.4
The ER2 Trading Journal
- Thread starter trade_4_living
- Start date
I feel ER2 might make a trend reversal in the afternoon, look at RSI/Price divergence:
The overall market is still very bearish, on my charts, ER2 has never crossed otehr indexes in the comparision charts throughout the day.
The LOD 663.8 holds, 663.3 to 664 is the support area.
Check out the overhead resistance with waning volume. Definitely see some pullback potential or at least some more consolidation before it makes up its mind whether it was a false breakout of the red box I drew on the chart or a true breakout.
Phil
Phil
Yes, you're correct. It was a breakout on light volume. if you look at 30 minutes or 60 minutes chart, the divergence is very obvious.
Well, we are daytraders, play the swing. Short, cover, long, sell, short again.
Well, we are daytraders, play the swing. Short, cover, long, sell, short again.
The divergence for the past week:
But where will it pullback to? I would just play the resistence and support on intraday basis. The divergence based on 60 minutes chart:
If it closes below the box I drew then I see it moving to 655 or thereaboyuts which is meeting up with the 50 day SMA.
Now at the resistence:
665.7.
665.7.