Yes sir...three winners from just hidden divergence trades today alone. I like these trades to get into trends for quick scalping..I never used to have signals like these to get into trends for scalping before. I was scalping to the long side today as the ER2 was moving up off the 829 level. This is one of about 6 different divergence techniques I use.
"I dont believe in TA" should definitely be replaced with "I havent found a way to make TA work for me yet". Anyone who think thats TA can't or doesn't work for intraday trading is just nuts. I'm sorry but you have to MAKE TA work for you (ie personalize it).
TA is a belief. Most never get it to work, and it rarely shows any value when put under the microscope of multiyear studies.
JJ, Reverse or hidden divergence is not crap - if you actually understood it and tried to trade it, you would welcome it into your arsenal. Regular divergence can give false signals as it aids in picking turning points i.e. tops and bottoms. The problem is, it can give early signals - double or even triple regular divergence before the actual turn is commonplace. By the time you get to the actual turn in price, you just can't put on another trade and oooops, there went the winner. Reverse or hidden divergence is the opposite...it is a "with the trend" trade that identifies pullbacks or re-tracements. It occurs less frequently than regular divergence and is a very high percentage winning setup when you see it. The trick is to be alert and patient and watch for it. Anyway...I encourage you to throw up a chart or two and look for it yourself. By the way, I have known about reverse divergence for years and my knowledge of it has nothing to do with TI or this Felton guy. HM
Correct..HD trades have been around for many years so the concept is not new. Friday was a perfect HD trade signal day with the strong trend..I had about 9 signals so there were many good opportunities to join the rally.