Wednesday, June 10, 2009

Delta Signals Reversal at Low of Day

Hi guys,
I was able to get in long near the LOD. The Footprints/Volume Breakdown really signaled a nice trade opportunity. It's always a little daunting going counter trend on such a strong downtrending day. However, when I saw that massive volume on the 6 reversal chart as the market make a new low and then could only eke out 2 ticks more, it really looked like a possible bottom to me. After a while, you just get a feeling.

I am also including a link to the chart definition for the my 1.25 Range Chart. I have removed the Delta Divergence indicator as it was coded by a friend, but it's not really hard to do if you have IRT or MD Pro. BTW, I don't really look at the signal very much and could absolutely live without it. That said, it's nice having it.

Also note, that the lines will not print for you due to the V#'s I have used and the Quote Page I created. I left it so you could get an idea of the lines I look at. They also automagically print on my 30 minute chart and Reversal Chart.

I hope it helps,


No comments:

Post a Comment