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Saturday, August 11, 2007 11:46:40 AM
** CMTN Annotated Chart **
LP, nice eye on the positive divergence, but I don't like it...
Here is why, I'm assuming you looked over my lesson... one of the "reinforcer's" I used as a confirmation of a "good" positive divergence was the double bottom pattern... I do not like this double bottom because Bottom 1 is HIGHER than Bottom 2... IMO, it needs to be opposite of this for myself to feel comfortable (some may disagree... this is all just my opinion).
What I'd be looking for is a break of the upper channel line before I'd even think about hopping into this one...
IMO...
LP, nice eye on the positive divergence, but I don't like it...
Here is why, I'm assuming you looked over my lesson... one of the "reinforcer's" I used as a confirmation of a "good" positive divergence was the double bottom pattern... I do not like this double bottom because Bottom 1 is HIGHER than Bottom 2... IMO, it needs to be opposite of this for myself to feel comfortable (some may disagree... this is all just my opinion).
What I'd be looking for is a break of the upper channel line before I'd even think about hopping into this one...
IMO...
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