[REBOUND] RSI Divergence 2.0 & Uniformity Part 12/12
I respond to your mentorship/ one on one coaching email question;
Hi Eric,
Thanks for the MATX chart showing the Uniformity Lines originating in July and mid-Sept. Could we also draw a Uniformity line from the high in mid-Nov? If we did, would the horizontal line pretty much copy the July horizontal line?
Anyhow, I watched MATX on the intraday 5 minute chart and ended up buying 50 shares live (not paper) at $42.98, close to the day's low. I put a stop in at 5%. Do you ever look at ATR on the weekly or daily when considering the stop?
Your question posed on 5/3/15 email:
So now the question is can you find the daily uniformity lines for FBT and/or LUV? Have they both given rebound uniformity support buy signals??
LUV - start line at 9/18 RSI high, draw down to approx. 10/14, then horizontal. I would say YES support was reached on 4/6 and again on 4/30 and almost touched on 5/5.
FBT - start the line at 9/3 RSI high, draw done to approx. 10/16, then horizontal. I would say YES support was reached
on 12/16, 12/23, 2/4, 2/9, 3/25, and 4/6. On 4/27 it breaks thru the support.
Could you also start the line at 3/20 RSI high?
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