Divergences are noted on chart.
Key idea to keep in mind: The market has price and momentum movement that creates the window of r a new item to catalyze a move. Look at the fat that was in place prior to the "Freeze Tweet" that sparked the rally. If you look at the chart, the market was primed and ready to rally prior to that tweet.
Now look at the divergences setup prior to the now-failed Doha meetings that just concluded. Notice the market has positioned itself for a price fall, with the momentum decline on higher price that makes up a divergence?
Lesson? Listen to price and momentum. News often provides the justification for the next market move.
It's a great "look-back" but certainly would have been more significant if highlighted before the news of the Doha talks failing came to light.
At this point it's just conjecture and confirmation bias no?
PS: love your work, just want to be as objective as possible.
I try not to be too speculative in posting ideas, BTW. Something I've learned from people PMing me about blown volatility trades.
Have you ever visited iBankCoin.com? You’d be a great blogger for the site. I’m not a blogger 4 them yet but have always considered it. I have 2 get my personal stuff in order 1st though.
My qualm was that oil already opened up 6% lower today at 6PM. You posted before the open, but after the “Oil Plunges After Output Talks Fail Amid Saudi Demands Over Iran” headline from Bloomberg. The technical haven’t changed all weekend so the observation of momentum divergence gets diluted in the ‘after the fact’ timing of the post.
I’m pretty terrible at observing momentum accurately so I appreciate the overview but the predictive nature of the post is certainly weakens. Maybe that was purposeful though to avoid the whiners
Sorry I didn't post earlier. I have done some with the "private" lock on them assuming followers would get them but never got any feedback.
When I see the momentum diverge again on the USOIL 4hr I will post it as I trade it.