Been watching TZA, SOXS, SQQQ and SDS all morning. Viewing
various timeframes. Finding it quite difficult to come up with an
entry point. Using an 8 EMA as a turnaround point along with a
reversal candlestick. Going between daily, 60 minute, 30 minute and
5 minute charts.
Taking it in as an educational experience but not finding a way
to step in.
can anyone give some basic advice what to view and what to
avoid?
Richie..the move down came over night and since we have
seen a bounce up (similar to yesterday). IWM and QQQ
intrdaday charts showed some pos divergence on the early morning
lows with the QQQ's bouncing off it's 9 day EMA and IWM near its 20
day MA. The daily charts have support below price with the MA's
bullishly stacked. With that said, the intraday charts are now
displaying lower highs and lower lows so one must continue to
monitor and respect ones triggers and stops on the time frame they
trade.
I also suggest reviewing the intraday charts on those inverse
ETF's at the end of yesterday for objective setups coming into
today.
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Inverse ETF's
Posted by RichieD on 24th of Feb 2017 at 11:08 am
Been watching TZA, SOXS, SQQQ and SDS all morning. Viewing various timeframes. Finding it quite difficult to come up with an entry point. Using an 8 EMA as a turnaround point along with a reversal candlestick. Going between daily, 60 minute, 30 minute and 5 minute charts.
Taking it in as an educational experience but not finding a way to step in.
can anyone give some basic advice what to view and what to avoid?
Richie..the move down came over
Posted by steve on 24th of Feb 2017 at 11:22 am
Richie..the move down came over night and since we have seen a bounce up (similar to yesterday). IWM and QQQ intrdaday charts showed some pos divergence on the early morning lows with the QQQ's bouncing off it's 9 day EMA and IWM near its 20 day MA. The daily charts have support below price with the MA's bullishly stacked. With that said, the intraday charts are now displaying lower highs and lower lows so one must continue to monitor and respect ones triggers and stops on the time frame they trade.
I also suggest reviewing the intraday charts on those inverse ETF's at the end of yesterday for objective setups coming into today.