Monday, September 12, 2011

A Few lessons

 As you can see, after breaking down from the triangle, an intraday support level was put in, this is why I keep stops away from any level retail traders see as support or resistance. The market saw the stops gathered and ran them again-just look at the volume.
We had another positive divergence on that break, so t looks like the shares stopped out were accumulated by Wall Street.

This is why I keep positions small on short term divergences, if the divergence builds and it looks like a bigger move is coming, I want to be able to add in to weakness, so long as 3C is positive as it is.

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