MACD Divergence shows the Way. It ain't rocket science,
Apr 16, 2020
So, I'm sure there are many options traders, who are now at home and work, maybe even have a full house of family members. My commitments used to disqualify me from doing intraday options trading, not anymore, now I'm trading on intraday charts looking for MACD divergences and double tops and bottoms like the Options Hunter does.
I'm no Dale Wheatley, I'm still learning and cautious with my trades but I can tell you for a fact that this strategy works for me, it really does. The daily chart of BA had a strong MACD up that really gave the confirmation of the 5-minute divergence Dale looks for.
He tweeted this yesterday. Those calls really took off. It was on 5 minute bars so we knew it wouldn't last forever. I'd have exited when the price pulled back around 10:45 but that's me being conservative. Could have stayed the course for the real MACD turn down later in the day.
