DISQUS

Afraid to Trade Blog: Nov 2 is a Day of Intraday Divergence Lessons

  • Dan de Man · 1 month ago
    I think you're right Corey. Today's closing candle is a doji and we have positive divergance on the 3/10/16 histogram. Looks like a low risk swing trade to me. I also added Larry Connors RSI 2 on my charts and that has positive divergance too.

    On top of that we have a negative divergance on UUP and a doji.

    Green light long but anything can happen. I guess that's what makes it exiting!
  • Corey Rosenbloom, CMT · 1 month ago
    True - positive intraday divergences though price is a hair under support levels including a trendline from the prior three lows and the 50 day EMA both at 1,047.

    The lower Bollinger Band (daily) is at 1,035 so we're seeing perhaps the last levels of support, but we could also see yet another of the many 'bear traps' we've seen since July.

    Exciting about sums it up! Though I see both bulls and bears being frustrated over the last week or so.
  • Kevin · 1 month ago
    Corey,

    If you're willing to share, what settings do you use on that momentum oscillator?

    Thanks
    Kevin