Divergences on 30-min for the first time since the selloff begun. Caution....FWIW
ER2
Started by
NAV
, Jul 25 2007 09:58 AM
21 replies to this topic
#2
rkd80
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Posted 25 July 2007 - 09:58 AM
Divergences on 30-min for the first time since the selloff begun. Caution....FWIW
explain plz....
oh and who is the caution for? longs or shorts?
“be right and sit tight”
#3
NAV
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Posted 25 July 2007 - 10:01 AM
rkd80,
Caution for shorts of course. Strong possibility of a bounce. But sometimes in these fast markets may not mean anything. We'll know soon...
And triple divergence on 5-min. Will post charts later. Busy in the middle of a trade.
Edited by NAV, 25 July 2007 - 10:03 AM.
#4
rkd80
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Posted 25 July 2007 - 10:03 AM
oh...keep me posted. i dont trade er2 manually, but i would be deathly afraid to go long there - it's a bull-slaying field.
id rather stick to es or nq for longs and er2 for shorts. maybe that will change...
i am looking for a long entry myself, i was suggesting yesterday we will get a retest of yesterday's lows, but as always we overshot them badly and now there are hanging men on a lot of time frames. selling was a bit too over the top.
“be right and sit tight”
#5
Russ
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Posted 25 July 2007 - 10:04 AM
Vix is starting to cave.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#6
LarryT
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Posted 25 July 2007 - 10:22 AM
I can see three waves down from the July 18th super cycle top....hahaha 
#7
rkd80
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Posted 25 July 2007 - 10:28 AM
I can see three waves down from the July 18th super cycle top....hahaha
am i crazy for going long at es 1524?
i might be...
“be right and sit tight”
#9
rkd80
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Posted 25 July 2007 - 10:30 AM
nav, i always found divergences tough to trade. couldnt there be in theory be another lower low but a higher oscillator bottom?
this your personal momentum model right?
“be right and sit tight”
#10
NAV
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Posted 25 July 2007 - 10:40 AM
nav, i always found divergences tough to trade. couldnt there be in theory be another lower low but a higher oscillator bottom?
this your personal momentum model right?
This is not a signal to buy, but a good place to cover shorts for VST traders. Aggresive countertrenders can take long trades,but very risky. Sure we can make another low with another divergence. But it's very rare you see more than 3 divergences.
BTW, i am only shorting bounces here until i get a hourly buy signal.
Edited by NAV, 25 July 2007 - 10:38 AM.
