ITs been a nice ride up, and sentiment looks very good. However for any kind of continuation we need some cooling off in the form of pull back.
There a divergence on the 15min and 1 hr charts on the RSI, playing into the CCI pullback on the 1day chart.
The 4 hr chart shows CCI divergence and is starting to show RSI too.
A 50% retrace to ~7300 would be enough, may even get away with less.
Shorting is tough to do with the kind of movement we have seen in the last couple of days. However, I already started and whilst writing this an alert just popped up saying a retrace is occurring.....
There a divergence on the 15min and 1 hr charts on the RSI, playing into the CCI pullback on the 1day chart.
The 4 hr chart shows CCI divergence and is starting to show RSI too.
A 50% retrace to ~7300 would be enough, may even get away with less.
Shorting is tough to do with the kind of movement we have seen in the last couple of days. However, I already started and whilst writing this an alert just popped up saying a retrace is occurring.....
Trade closed: target reached
pull back not as big as expected, but enough to cancel the divergence.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.