What is ...well I don't want to say surprising because we've been watching this develop for some time, maybe somewhat shocking, is how bad so many assets look and on long term charts, but they are not at the start of a divergence on a long term chart like 60 mins, they are pretty mature.
I think the real trade, the best looking trade is to be able to short some of these on any price strength.
It's to the point now that the "bounce" candidates really need to show something beyond simple 5 min positive divergences because a few charts away they look sooooo bad.
Here are just a few examples as I'm going through numerous watchlists... ***By the way, NFLX has a bit of a triangle, a move below that triangle on a short term trading basis would almost certainly be a stop run/head fake, I'd be interested in adding there if I had room which I don't, maybe I'll come back to that one, but the area would be around $325 and then NFLX is likely set up for a nice bounce with low risk. Any way, back to the point... *These charts are so bad (mostly in the 60 min to 4 hour range) that I don't think it would be useful to notate the divergences, I think it would take away from seeing the charts as they are.
I'm still looking around for anything that might be looking good right now.
No comments:
Post a Comment