Showing posts with label pattern failure. Show all posts
Showing posts with label pattern failure. Show all posts
Tuesday, July 28, 2009
Setup: Breakdown-Pullback off Trend Failure
CALM broke down from a parabolic uptrend. I'd like to enter short on a weak bounce.
Tuesday, June 30, 2009
The Answer is Negative Divergence!
Yesterday I posted a chart of GS and asked what the chart tells us. GS is showing a clear negative divergence right at resistance. This signals a pullback at resistance, or if the R level does break, a pattern failure post breakout.
Short entry can be made under R, or post breakout. As noted to Trade Report members, I went short yesterday under the R level at $149.12.
Short entry can be made under R, or post breakout. As noted to Trade Report members, I went short yesterday under the R level at $149.12.
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