very consistant trend day patterns on the 5 minute chart.
1st thrust results in a new momentum high
2nd push results in a peekaboo high and divergence, setting up a
retracement in the area around the 20 ema.
3rd push into the lunch hour again with divergence sets the
table for a better retracement. this is usually the best
countertrend trade
a retracement somewhere in the area of the 50 sma should set up
another test of the highs. the only caveat is the $TICK has
not exceeded yesterday's high, but breadth has been consistant
+2300-2400 all session.
typical trend day
Posted by edfash on 27th of Sep 2011 at 01:11 pm
very consistant trend day patterns on the 5 minute chart.
1st thrust results in a new momentum high
2nd push results in a peekaboo high and divergence, setting up a retracement in the area around the 20 ema.
3rd push into the lunch hour again with divergence sets the table for a better retracement. this is usually the best countertrend trade
a retracement somewhere in the area of the 50 sma should set up another test of the highs. the only caveat is the $TICK has not exceeded yesterday's high, but breadth has been consistant +2300-2400 all session.
Thanks for you posts on
Posted by jambo1 on 27th of Sep 2011 at 01:16 pm
Thanks for you posts on your methods edfash.
my pleasure
Posted by edfash on 27th of Sep 2011 at 01:31 pm
my pleasure