kichan - generally double tops and especially ascending
triangles all have negative divergence, they are 3rd wave tops
generally with the pattern being a 4th wave consolidation and then
you get a 5th wave move up. So ascending triangles have divergence
all the time and that is not bearish at that point becasue they
push up generally to form a hew 5th wave high
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as I see $compq formed
spy chart
Posted by kichan77 on 22nd of Aug 2008 at 02:12 pm
as I see $compq formed double top with negative divergence in 15 minutes chart. let's see how it play out.
kichan - generally double tops
Posted by matt on 22nd of Aug 2008 at 02:24 pm
kichan - generally double tops and especially ascending triangles all have negative divergence, they are 3rd wave tops generally with the pattern being a 4th wave consolidation and then you get a 5th wave move up. So ascending triangles have divergence all the time and that is not bearish at that point becasue they push up generally to form a hew 5th wave high