Negative Divergance Fallacy
I’ve been meaning to make this point for a while. So-called negative divergance on the technical indicators can be very bullish. Today was a perfect example. We could get a smash down at any point, but the thing to note is that the non-confirming indicators did nothing to stop price rising. When the indicators broke out of their downtrend price rose more rapidly.
Specially on smaller time frames!
Indeed
Price rules.
Good call Noman. I remember your flip. Stayed true. Let us know when you flip.
In a bull market impulse move Indicators are next to useless
they work in consolidations for some.
personally I agree Price rules
Indicators are derived from price
You have to ignore everything except price right now. My expensive DSI service is worthless.
Usually when it hits 92 on gold and silver it is a reliable time to get out. Not now.
I’m all in Patrick save for the 10% allocation I put into LABU yesterday and picked up 5 points. Today it is dead money…
I am still not back to last Mondays pre open level. Hazards of trading.