Joe...CUK is in freefall and has NO divergence on the daily
chart nor its 60 minute chart yesterday or even the 15 minute chart
for that matter. No surprise that its down again today
(making new lows). NOW watch for signs of a short term bottom
(maybe double bottom on small intraday time frames). You have
to shift to the intraday charts for short term for starters as I've
discussed in many newsletters this year. NO TRIGGER NO
TRADE
Yes CUK didn't have divergence coming into today on the intra
day charts, however it did make a slight divergent low on the gap
down open via the intra day charts, however it shot straight up
along with everything else after the open, there's an open gap it
got into here so far
Posted by josephroth on 9th of Feb 2016 at 08:39 am
As noted in my post I noticed the lack of divergence on MACD but
wasn't sure how to weight that relative to other characteristics in
the charts I was observing, thanks very much. Cheap lesson....I'll
keep an eye on it. I'm trying to hone my eye so every bit helps,
really appreciate it.
Posted by josephroth on 9th of Feb 2016 at 10:08 am
I'd love to sit here and say i caught it but I did not. All I
saw was gap down and straight up with no meaningful pattern for an
entry.
If you're looking at the 15 min yes I see MACD divergence if you
include aftermarket hours. I'm learning, but would rather sit on my
hands if I'm not sure...just felt like a parabolic move and
gambling that first 25 minutes.
Gonna see if I can get a pullback then ride it to 5 and 9 SMAs
if I get in.
Thanks Steve
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Joe...CUK is in freefall and
CUK Trade Idea Would Appreciate Feedback - New Member
Posted by steve on 9th of Feb 2016 at 08:14 am
Joe...CUK is in freefall and has NO divergence on the daily chart nor its 60 minute chart yesterday or even the 15 minute chart for that matter. No surprise that its down again today (making new lows). NOW watch for signs of a short term bottom (maybe double bottom on small intraday time frames). You have to shift to the intraday charts for short term for starters as I've discussed in many newsletters this year. NO TRIGGER NO TRADE
Yes CUK didn't have divergence
Posted by matt on 9th of Feb 2016 at 10:08 am
Yes CUK didn't have divergence coming into today on the intra day charts, however it did make a slight divergent low on the gap down open via the intra day charts, however it shot straight up along with everything else after the open, there's an open gap it got into here so far
Thank You Steve!
Posted by josephroth on 9th of Feb 2016 at 08:39 am
As noted in my post I noticed the lack of divergence on MACD but wasn't sure how to weight that relative to other characteristics in the charts I was observing, thanks very much. Cheap lesson....I'll keep an eye on it. I'm trying to hone my eye so every bit helps, really appreciate it.
Cheers,
Joe
Joe..notice how CUK gapped down
Posted by steve on 9th of Feb 2016 at 09:55 am
Joe..notice how CUK gapped down and made a DIVERGENT LOW on small time frames and then triggered long.
funny Steve and I were
Posted by matt on 9th of Feb 2016 at 10:08 am
funny Steve and I were both on the same wave length, I was in the middle of posting that comment and Steve beat me to it :)
Missed It
Posted by josephroth on 9th of Feb 2016 at 10:08 am
I'd love to sit here and say i caught it but I did not. All I saw was gap down and straight up with no meaningful pattern for an entry.
If you're looking at the 15 min yes I see MACD divergence if you include aftermarket hours. I'm learning, but would rather sit on my hands if I'm not sure...just felt like a parabolic move and gambling that first 25 minutes.
Gonna see if I can get a pullback then ride it to 5 and 9 SMAs if I get in.
Thanks Steve