Text Book Divergence and Great Short Set up

Here is a chart of EWT(Taiwan ETF). I got this trade on Friday from Tim Knight over at Slopeofhope.com
See what you are missing not going to that site.
Tim liked it because of its hitting resistance, I liked it because of that but also look at the divergence that formed on the 60 Min chart.

That is a text book example of divergence on the MACD.  This set-up was just beautiful, first we have the divergence on the MACD with resistance at 10.50 and on Friday the STOCH was overbought as well. 
The daily chart is making this short look even better, the price broke it's up-trend line today and on above average volume.  MACD and STOCH look to be rolling over too.