Want to really be confused?
My favorite bullish signal just confirmed again - oversold bullish divergence on the 4-hour chart. Didn't I just write an entire post about the daily being bearish? Yes. Didn't I mention mixed signals? Yes.
The truth is, a lower time frame signal can cause a nice bounce to the upside, before the larger time frame takes back over. Dicey situation.
I would normal trade this aggressively, but I still remain sidelined, especially with the GBTC overhang. I love the signal, I hate the market situation right now.
My favorite bullish signal just confirmed again - oversold bullish divergence on the 4-hour chart. Didn't I just write an entire post about the daily being bearish? Yes. Didn't I mention mixed signals? Yes.
The truth is, a lower time frame signal can cause a nice bounce to the upside, before the larger time frame takes back over. Dicey situation.
I would normal trade this aggressively, but I still remain sidelined, especially with the GBTC overhang. I love the signal, I hate the market situation right now.
scott.melker@texaswestcapital.com