60 now exhibits a slight bullish RSI divergence. It would need to be traded with a fairly tight stop as 1300 is very near and bears will want to initiate attempts at that.
Unreal shorted 1308.25 after the Bernanke blast. That was a crazy scalp. That type of movement is highly tradable though. Just another example of how News (good or bad) can change the day. As a rule i never short 2 levels of support, its just too easy to get squeezed. Especially on a gap down.
Don't know about you guyzzz, but I am seeing very bullish signs here, I think deffinetly healthy accumulation going on now. EDIT: I think there will be new highs today as well.
still respectfully disagreeing....................when we are in the learning curve we are actually learning to create a system not learn about the markets..........once we have the real money making system, not the few thousand also rans, but the real one, the we r ealize that what we learned was that all the learning was basically stumbling blocks, not helpful learning...we are then doin g what all others do and tha tis okay just not going to help you much.......more information more emotion ...we learned that we got thru the mess which usually causes most to quit, and now we see the light.........having nothing to do with knowing anything except to contorl emotions and operate the system ........ all the "learning" markets was a grueling, painful, costly, emotional process, not a market learning process........establishing system signal/s is what we must learn.........the fewer the better.......get top 2 or 3 and tha tis all u need to capture positive points.....high %
Divergences exist for a reason. This was a good observation. Bears will make more attempts at 1300 --could be today--could be tomorrow or next week, but it will occur.
I will be looking for new areas to add to the short position. Maybe not on this move, hopefully a bit higher.
had to reverse for a long, all small stops here max 3.25 adjusting position size accordingly, great day