Positive divergence - may be a buy today
What do we see in the depth?
- Ichimoku is bearish, but...
- Heikin-Ashi signals there might be problem with bearish momentum! haDelta and haOscillator show positive divergence -> late sellers are not so strong, they already face some protecion buyers.
- If EWO ticks higher next, it will also strengthen positive divergence
- Key levels are touch lower: Tenkan at 19,58, Kijun at 20,33. Kumo and 100wma are unch. at 22,35
If you can catch something below 19,60, that can be a reasonable long with a 18,65 stop loss.
Make sure you do not buy too much! Position sizing and money management is the most important in early counter trend trades. A lot more important than the exact entry level!
Together with VXX you must follow SPX as it reached 2269 short term key level too!
- Ichimoku is bearish, but...
- Heikin-Ashi signals there might be problem with bearish momentum! haDelta and haOscillator show positive divergence -> late sellers are not so strong, they already face some protecion buyers.
- If EWO ticks higher next, it will also strengthen positive divergence
- Key levels are touch lower: Tenkan at 19,58, Kijun at 20,33. Kumo and 100wma are unch. at 22,35
If you can catch something below 19,60, that can be a reasonable long with a 18,65 stop loss.
Make sure you do not buy too much! Position sizing and money management is the most important in early counter trend trades. A lot more important than the exact entry level!
Together with VXX you must follow SPX as it reached 2269 short term key level too!
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