Afraid to Trade Blog - Latest Comments in Nov 2 is a Day of Intraday Divergence Lessons

Re: Nov 2 is a Day of Intraday Divergence Lessons

Kevin — Mon, 02 Nov 2009 19:18:26 -0000

Corey,

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

Thanks
Kevin

Re: Nov 2 is a Day of Intraday Divergence Lessons

Corey Rosenbloom, CMT — Mon, 02 Nov 2009 17:30:50 -0000

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.

Re: Nov 2 is a Day of Intraday Divergence Lessons

Dan de Man — Mon, 02 Nov 2009 16:16:19 -0000

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!