I don't see a reverse divergence on the last low (yesterday's)
You have a lower price and a lower MACD compared to the 2
prior lows. You'd have to go back to the low before that to
see any reverse div
mugsy - it does, however not how I had it drawn originally, I
fixed the chart, you have to go back to previous lower lows such as
back to the 16th: see the chart
Posted by sonofrebel on 8th of Nov 2013 at 02:36 pm
Now just a few things to note: Today's reversal in the
market is quite ugly, so you have to decide for yourself if you
want to take the system trade or possibly wait for lower prices
such as on the RSI 2 system. Honestly it's a bad habit of
mine to always second guess the trades but a system is a system,
either choose to follow it or not. The SPY Pro system has not
really had a losing trade in about a year, so we know that it is
due one of these days - I simply like to point that out, just so
that you are ready for it when it happens - the system won't win
every trade maybe it will win this trade, maybe it will be the
first losing trade in a while, we'll have to see, I'm simply
reporting the signals.
Reverse Divergence examples
Posted by matt on 8th of Nov 2013 at 02:18 pm
$SPX - Chart Link - reverse divergence examples on the SPX 60 min, we had it at yesterday's lows to here and o the 60 min
Matt, I don't see a reverse
Posted by mugsy on 8th of Nov 2013 at 02:38 pm
Matt,
I don't see a reverse divergence on the last low (yesterday's) You have a lower price and a lower MACD compared to the 2 prior lows. You'd have to go back to the low before that to see any reverse div
mugsy - it does, however
Posted by matt on 8th of Nov 2013 at 02:51 pm
mugsy - it does, however not how I had it drawn originally, I fixed the chart, you have to go back to previous lower lows such as back to the 16th: see the chart
Oh ye of little faith Matt
Posted by sonofrebel on 8th of Nov 2013 at 02:36 pm
Now just a few things to note: Today's reversal in the market is quite ugly, so you have to decide for yourself if you want to take the system trade or possibly wait for lower prices such as on the RSI 2 system. Honestly it's a bad habit of mine to always second guess the trades but a system is a system, either choose to follow it or not. The SPY Pro system has not really had a losing trade in about a year, so we know that it is due one of these days - I simply like to point that out, just so that you are ready for it when it happens - the system won't win every trade maybe it will win this trade, maybe it will be the first losing trade in a while, we'll have to see, I'm simply reporting the signals.
Yes sonofrebel - the system
Posted by matt on 8th of Nov 2013 at 02:53 pm
Yes sonofrebel - the system trade looks good so far, now we simply need SP to close over the 8 day MA today to get the exit for Monday's open.
Again for system trading you have to decide if you want to do the, how much, etc, that's up to you guys
Works great! learned it on
Posted by arton on 8th of Nov 2013 at 02:33 pm
Works great! learned it on Future Trading :)