Tuesday, January 6, 2009
Looks like the top is in
zooming out via 120min bars on the /ES reveals RSI diverging a cresting /ES which is occuring over top of the apex of a symmetrical triangle. I'm expecting the market to begin tanking.
Friday, January 2, 2009
validated sell signal triggered at triangle apex turn
closing ticks has triggered another sell signal which also happens to correspond with the apex point of the symmetrical triangle as shown in the graphs above.
I have boxed in the areas where extreme tick readings have lead to turning points on a short term basis. In this case the signal is indicating the potential for a change in trend on a larger time frame.
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