SDRL- Potential D Bottom With Positive RS Divergence!
11-2 Check it out! You gotta love these patterns.
Remember a double bottom is a back to the scene of the crime retest of the lows.
You want to see the retest of the lows get defended and especially
see positive RS Divergence when it happens.
As with OAS the same applies to SDRL
Notice a theme developing?
First off we see what MAY be
a double bottom in process. Next we see a green
downtrend line that we'll want to see if its crossed
to the upside. What is really important is that of the
RS sporting POSITIVE RS divergence. That is
exactly what you want to see on a retest of the lows.
From here its all about an upside crossover of the
green line, that's the trigger on the long side
THEN upon that crossover you can place
a stop just below the blue lines.
Remember a double bottom is a back to the scene of the crime retest of the lows.
You want to see the retest of the lows get defended and especially
see positive RS Divergence when it happens.
As with OAS the same applies to SDRL
Notice a theme developing?
First off we see what MAY be
a double bottom in process. Next we see a green
downtrend line that we'll want to see if its crossed
to the upside. What is really important is that of the
RS sporting POSITIVE RS divergence. That is
exactly what you want to see on a retest of the lows.
From here its all about an upside crossover of the
green line, that's the trigger on the long side
THEN upon that crossover you can place
a stop just below the blue lines.