After a retracement from the local high being made to the .618 to the .886 we can layer our bids there. Shown with the long position tool( GREEN/ RED buy orders)
There is an argument for continued downside because of the maturing hidden bearish divergence on the local high being made right now.
This MPLIES impending price continuation to the down side. In essence a lower high is created with higher levels of buying momentum. Which means the Sellers have too many orders there for the increased momentum to push through to the next area of interest.
What can happen to invalidate this observation is if the ne high is made and the MACD histogram make a second higher high.
Not a value buy right now the.
There is an argument for continued downside because of the maturing hidden bearish divergence on the local high being made right now.
This MPLIES impending price continuation to the down side. In essence a lower high is created with higher levels of buying momentum. Which means the Sellers have too many orders there for the increased momentum to push through to the next area of interest.
What can happen to invalidate this observation is if the ne high is made and the MACD histogram make a second higher high.
Not a value buy right now the.