Oil Downtrend?
Look at the bigger divergence that appeared on the D-chart currently. Could this indicate a downtrend? May leg C be the next one?
This is how I use Divergence technique:
After a Divergence has occured I look for possible trend lines that might be the trigger to do an entry.
When the trend line is broken I do the entry straight away.
It is very often testing the entry level, and therefore a suitable stop loss is necessary.
This is how I use Divergence technique:
After a Divergence has occured I look for possible trend lines that might be the trigger to do an entry.
When the trend line is broken I do the entry straight away.
It is very often testing the entry level, and therefore a suitable stop loss is necessary.
Note
Fib-Channel on the Downtrend:Note
Local entry level is broken currently which is a bad sign for bulls..
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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.