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Morning Traders 8/11/19, page-3

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RogerRamjet

584 Posts.

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08/11/19

09:57

Post #: 41314244
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Originally posted by demoniaco: ↑

Thanks @highlandlad for the pre-open

9:52am: Woke up this morning to see the US soaring right through the last piece of resistance. Blue skies for the Dow Jones which may lift the big end of town on the ASX. GOLD returning into the bull flag trading range after weak attempts of breaking out. It's currently in a weird limbo of super strong looking TA mixed with no FA to justify further moves to the upside.

Trading tip: MACD and RSI are one of the very first indicators we learn about, but perhaps the worst applied TA tools for newcomers. These should two tools act as supporting information. Simplying entering the "overbought" or "oversold" zones does not justify opening or closing a position, yet youtube "traders" teach this all the time. Hands-down of the most powerful applications of these two tools is divergence. Highly recommend learning about positive/negative divergence, it provides the most accurate piece of information about market direction I know of.

Trading Apparel:

Pre-Open Hype Music:^{Is it ever too early in the morning for Kawaii metal? Probably up your alley @Quantum Torus with that D.VA profile picture.
WATTA TATTA TA TA TA TA ZOKYUUU}

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@demoniaco
Divergence: is there a YouTube link that explains this to your satisfaction pls? [for later]
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