Something that happened during the holidays I didn't took this trade but our set up occurred again after the previous one almost back to back This happens quite often in the CHF pairs So because there is not clear support area i was going to take a 30 pips potential loss in this one for 2 reasons 1) A lot of volatility in the markets and... 2)This pair is...
This is what we are waiting for now to happen RSI Divergence with the price -The RSI has to go overbought above 80 at the initial impulse leg -And then at the second HHC we need to see divergence but the RSI cannot be overbought above 80 at the resistance area And the MACD (blue line) stay flat or start having a negative slope(tenting lower) What we mean by...
Weell... As you can see our divergence pattern occurred also in the US Dollar Index. The think is that also appeared in Silver and don't forget those two instruments have a negative correlation. So if both diverge the same time... I don't know :P But i think its more highly likely that we are going to see a reversal Now lets head back to the set up...! As we...
Our Divergence set up occurred in the 4h time frame We have 2 valid entry points because around the support area both legs after the impulsive leg did close at the same or lower level of "X" LLC with the RSI remaining above the 20 level and the MACD with a positive angle
Our divergence pattern occurred again! Big support area for the EURCHF
I didn't took this trade because i saw it later on when the r/r wasn't appropriate for trading So my divergence set up occurred again in the 4H time frame and has been confirmed in the 2H time frame and the 5 min
Its really harmonic... We will see...
Well... i didnt saw that earlier... :P
Potential Cypher pattern formation The price may even got down at 1120 but the is a high probability that it will continue the up trend from there...
Stops above X and XA 113 extension Because its in the daily time frame careful if you are going to short it and search for bearish evidence at the lower time frames When the first target get hit put SL at break even and wait for the second target