CCI shows reduced bear strength and Traders Dynamic Index cross over show healthy sloping. Last Friday closes above 5 EMA which make an ideal long scenario.
Trade active
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Long Position Entry: 1.07059 TP: 1.7800
Trade closed manually
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TP at 1.077
Comments
YardleyRosette
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Traders Dynamic Index is to be examined on multiple time frames to get an accurate reading of market conditions unfortunately examining only one time frame would only reveal partial knowledge from the bigger picture. I don't use CCI because really TDI explains itself by means of different time frames with no need for volume data or the like for interpretation.
YardleyRosette
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The Weekly RSI/TSL did not cross but kept a clean parallel separation downward, therefore it continued to be considered a downtrend and no long would be wise for swing trading. The following trading day (the 30th) RSI became resisted by MBL on the Daily chart, on day 31 (12H) RSI spiked above upper VB line as if price was rejected. If 3D chart was available, you could observe RSI was resisted by TSL thereby confirming a short move rather than a long trade.