- ronfParticipantOctober 26, 2015 at 8:36 pmPost count: 8
Starting to show a stronger move to the upside.
Wkly has an UD although still weak, BUT relative position of the MACD is leading the price.
Day chart although still weak, has a change in the MACD its now flattening and starting to turn up. Relative position of MACD leads price.
Hourly chart has a distinct pattern with a clear UD & the 8 X 21 & 50SMA intersecting with the 8 & 21. MACD is spreading and clearly above the signal line. relative position of MACD is over $21, so price still compressed.
Lower time frames supported a move up and 15min shows a distinctive channel.
Bought the Oct5 $20 Call at the bottom of the channel. Will add to position if it breaks thru next resistance level at $19.31.
Will review at following resistance level of $19.50.
Holding it overnight.
Attachments:ronfParticipantOctober 29, 2015 at 3:19 amPost count: 8
Followup: Divergence on the 1hr did not last long as expected – got out of position when 1hr MACD stopped moving up. Made a small profit.
The MACD on Day chart still at bottom of range so still weak. Path of least resistance is down for now.
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