I am reading lot of articles on divergences (Sentiment trader
being the latest)....but if lot of sectors/ETF`s are breaking out,
how can we say breadth is narrowing ? I am selling into strength
only to find myself buying back higher which is getting
frustrating.
Posted by DigiNomad on 7th of Feb 2024 at 11:40 am
Divergences - you might want to try out an indicator like "MACD
Divergences" and change the settings to shorter MA's for
trading vs investing (I'm using the one with tech in the creator
name). The divergences will get overlayed automatically when
they trigger and you can adjust your MACD settings for the
instrument and time frame you are using to sync the signal better
with price (I'm mostly using 10, 3, 16). Interestingly, the
longer time frames haven't overlayed divergences yet - I assume
because there is no top in this up leg to overlay it on, but I'm
not sure...divergences we've been following on longer time frames
are close to being blown out in some cases. I'm currently rocking 3
MACD indicators on a single chart with different settings. Lol.
Between that, bollinger bands and volume, I'm good.
SPX - gotta at least tag the 5000 round number
Posted by matt on 7th of Feb 2024 at 10:57 am
$SPX - Chart Link- 4995 highs price got to close to that big round number 5000, like to magnets very close together, they get pulled together
I am reading lot of
Posted by arun on 7th of Feb 2024 at 11:09 am
I am reading lot of articles on divergences (Sentiment trader being the latest)....but if lot of sectors/ETF`s are breaking out, how can we say breadth is narrowing ? I am selling into strength only to find myself buying back higher which is getting frustrating.
Divergences - you might want
Posted by DigiNomad on 7th of Feb 2024 at 11:40 am
Divergences - you might want to try out an indicator like "MACD Divergences" and change the settings to shorter MA's for trading vs investing (I'm using the one with tech in the creator name). The divergences will get overlayed automatically when they trigger and you can adjust your MACD settings for the instrument and time frame you are using to sync the signal better with price (I'm mostly using 10, 3, 16). Interestingly, the longer time frames haven't overlayed divergences yet - I assume because there is no top in this up leg to overlay it on, but I'm not sure...divergences we've been following on longer time frames are close to being blown out in some cases. I'm currently rocking 3 MACD indicators on a single chart with different settings. Lol. Between that, bollinger bands and volume, I'm good.
again remember we have to
Posted by matt on 7th of Feb 2024 at 11:13 am
again remember we have to point out those divergences, it doesn't mean you sell, stick with the trend until you get some sort of trigger
I know ......not referring to
Posted by arun on 7th of Feb 2024 at 11:39 am
I know ......not referring to you guys. I dont base everything purely off BPT. There is no holy grail and I understand that. Just had to vent :-)