Today is a trending day like last Tuesday (don't try to go short, buy on dips), and yesterday's action was a carbon-copy of last Monday.
The ER2 Trading Journal
- Thread starter trade_4_living
- Start date
The way ER2 is traded, we might see 694-695 in the afternoon, IMHO. I've my stop at 692.20, I would think the stop is unlikely to be taken out.
We're at the high of the day, guess where ADX is at? That's the strength. Imagine when ADX goes over 50...
Or some traders think that's the TA weakness, especially to these divergence traders. From my experience, on a trending day, put divergences as the second consideration. Look at the overall trend.
Or some traders think that's the TA weakness, especially to these divergence traders. From my experience, on a trending day, put divergences as the second consideration. Look at the overall trend.
Quote from steve46:
Are you sure you want to go that far out on a limb? The high so far is 693.70
Surely not 694 or 95. No one could possible expect that!
Steve
Well, right after I posted, it made an one point jump. Some traders would think it stops at 693, nope. I think shorting here would just add more fuel.
60 minutes chart can tell you where we are, break the previous resistence and the ADX line has just started to move up.
Out some here at 693.8, 694 has been a resistence.
MACD won't go below 0 line on 5 minutes chart..
5 minutes chart. But has resistence near 694.