OBV Triangle and it's price equivalent
I drew a triangle based on OBV's 50 hour moving average (orange),
and mirrored the triangle on price.
Red and green areas are 80/20 % overbought / oversold zones.
At this moment we are in the overbought zone so you can try a short here.
I expect a big move of ca. 50% after price breaks out of the triangle.
Targets:
Upside: 333-375
Downside: 130-90
Cheers : ]
-- PS: Here is the pine script code for the OBV indicator with moving averages: pastebin.com/Qs0rW4fX
and mirrored the triangle on price.
Red and green areas are 80/20 % overbought / oversold zones.
At this moment we are in the overbought zone so you can try a short here.
I expect a big move of ca. 50% after price breaks out of the triangle.
Targets:
Upside: 333-375
Downside: 130-90
Cheers : ]
-- PS: Here is the pine script code for the OBV indicator with moving averages: pastebin.com/Qs0rW4fX
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