short 3 divergence on 1 min triple faking bastards breaking TL K'MON let's slide! scaled out 2 +8 +0.5 on 3rd
I thought I would post what ImO/ImE is a valuable asset if using MACD as a navigational tool for scalping 1 minute chart (or swinging for that matter but on a longer term chart). It's quite simple really (I like KISS, actually I like fucking too childish joke, I know), I look mainly for 2 things to happen, either a divergence which I have used today on 1 minute chart or a sharp angle MACD reversal line, just like on attached image, which shows a bullish pattern obviously (below centreline performing sharp down and a brisk upwards move, creating a sharp angle). I would ONLY use this pattern on 1 minute chart IF/WHEN 2 parts of algo are present: 1. Price has to retrace from highs ie not to buy absolute Highs, some would refer to this as a "discount" being offered; 2. MACD signal has to be below centreline prior to sharp angle formation for LONGS and above centreline prior to sharp angle formation for SHORTS. Anyway, whatever the set-up appropriate money management is key. Kenguru out and crawling back in cave <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1701484>
This was a classic intraday Pivotal challenge (which I managed to miss, so congrats on that one) with lower peaks on 2 min chart and BOOOM!!!
I am looking for a level to enter long for a few weeks if they want to push the markets higher for the end of the year. However, as the dax was pretty strong these days, it may be hard to get a discount .
it's interesting that freezing happened when there was a bearish set-up, I am a total conspiracy theorist, can't help but think that these events take place purposefully, rather than accidentally.