10 replies to this topic

[CLK]

Outside a few days of back and forth, the sell off is done. Divergences are in the direction of trend.

 

 

 

 

[csw2002]

Thanks for the chart. One question though: normally when we talk about positive divergences, usually it is the price that makes a lower low while indicators making higher low (such as jan Feb 2016). Yours are the other way around. In fact, many would have said this points additional weakness ahead as internals fail to confirm.

[CLK]

Either method works, but the less obvious it is, the less you will be wrong.

 

Just because price drops a lot does not indicate a change in trend.

Edited by CLK, 13 August 2017 - 07:32 AM.

[CLK]

Short 246.10.    Too much too fast and I wasn't able to buy Friday, certainly not chasing this gap up.

[CLK]

I think the upside is done now, got in a little early, can be a fast market early but should have used a stop

below market on the short.

[CLK]

I think I am going to lose on this one. Have to make time to watch the last hour without fail for awhile to avoid

missing eod opportunities, like Friday.

[CLK]

If we don't get to 2455 ES or lower sometime today, then we are looking at an inverse H&S hourly up to 2490 tomorrow.

I will wait until the close, the day will be down.

Edited by CLK, 15 August 2017 - 09:24 AM.

[CLK]

Didn't close out. Looks like a launch tonight to 2490. I'm hoping not but these patterns 

rarely fail. If you have ES volume, watch for a big volume bar in the right shoulder tonight,

if volume stays low then maybe we have more downside.

[CLK]

The right side of the pattern seems to be putting in a double top, looking for 2450.

[CLK]

Took my loss. Need to buy at least a week next time, and this was bad trading, had two chances to about break

even and passed. When you know you timed badly, just try to get your money back, forget about profits.