good, it's a good H2 long. Now we need see how the previous high being tested...
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Every time, the retest of the previous low, especially the 3rd push, we'd be careful. I'm not saying reversal here, but certainly is something I'd be watching.
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Dow Trader wrote:Finally Oil responded to the news " Saudi army entered Bahrain"
SAUDI ARMY? what's going on?
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Dow Trader wrote:Finally Oil responded to the news " Saudi army entered Bahrain"
SAUDI ARMY? what's going on?
yes, the government of Bahrain asked the Gulf countries for help .. the story still development .. this must push Oil up but I don't know by how much, it depends on the reaction of Bahrain people to this action
greenback wrote:Seems that the divergence of RSI and price on the 15m chart works again intraday ...
Be careful, in strong trend day, divergence won't work. The problem is: it's hard to tell a strong trend day until very later. SO AGAIN DON'T TRADE SIMPLE BASED ON DIVERGENCE. REMEMBER THAT!
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greenback wrote:Seems that the divergence of RSI and price on the 15m chart works again intraday ...
Be careful, in strong trend day, divergence won't work. The problem is: it's hard to tell a strong trend day until very later. SO AGAIN DON'T TRADE SIMPLE BASED ON DIVERGENCE. REMEMBER THAT!
Thanks! How about after three-leg pushes, either up or down?
greenback wrote:Seems that the divergence of RSI and price on the 15m chart works again intraday ...
Be careful, in strong trend day, divergence won't work. The problem is: it's hard to tell a strong trend day until very later. SO AGAIN DON'T TRADE SIMPLE BASED ON DIVERGENCE. REMEMBER THAT!
Thanks! How about after three-leg pushes, either up or down?
No idea, will have to wait until tomorrow. I'll say a gap up open and consolidate to FOMC, then it's everybody's guess. The focus is QE3. And what will happen after QE3 being announced is very hard to say if you've noticed that US$ didn't rise like before when the world is in chaos.
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