Thursday, 1 April 2010
Divergence but no trade for me
Some nice divergence around the 1170.50 level leading to a move lower. I did not take this as I am waiting for a clear move to a new level and there was no PIN. Some traders may have taken this trade but for me its a matter of waiting.
You can see that price came up and made a slightly higher high where the red second vertical line is drawn, at the same time the stochastic and the oscillator at the bottom made lower highs, very clear divergence, price has now moved 6 or 7 ticks lower.
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