Oil: Divergence with RSI
Updated
Hi Guys,
here below a clean snapshot of the 4H structure reporting the divergence with RSI.
Has the impact of "nCoV2019" on Oil ended? The following chart was posted on Jan 28 when worries over "coronavirus" were high and was titled "Don't try to catch a falling knife".
After almost two weeks, has Oil finally found a bottom at 49.31?
iI don't know but if you have any questions or comment to add please do not hesitate to post it.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
here below a clean snapshot of the 4H structure reporting the divergence with RSI.
Has the impact of "nCoV2019" on Oil ended? The following chart was posted on Jan 28 when worries over "coronavirus" were high and was titled "Don't try to catch a falling knife".
After almost two weeks, has Oil finally found a bottom at 49.31?
iI don't know but if you have any questions or comment to add please do not hesitate to post it.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
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Currently pushed down by a fast MA. 10SMA Note
RSI still below 30. Daily candlestick trying to pullback but 10SMA pushes down.Note
4H Divergence with RSI building up but price still below SMAs Note
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