You look this Cross . We have a double Top with conditions. The condition is that the maximun 2 ... yes did a maximum but close down the maximum number 1. This pattern is mean to go Short. Now we have a support on 0.80410 . If the price broken the support and after touch a new time 0.80410 ( new resistance ) .... And you dont forget the MA 50 that will be broken.You can go Short. Open at 0.80410 with Stop Loss at 0.81122 and Target Price at 0.79590. Can to be ???? We hope. by Ulisse010 from Thailand with love
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I changed trailing Stop Loss at 1.0970
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I bought at 0.80410 with Stop Loss = 0.81122 and Target Price at 0.79590
Pretty tight stop loss, did it work out? are you still in the trade, I shorted as well @ 0.8066
GianfrancoFidalis
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@Spiderweb, Good morning . I dont understand becouse you bought but for me now a normal Stop Loss is 0.8120 or 0.8140
AshaDi
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Hello,
I can see a clear divergence within RSI 10, however, the price seems going up whole day today, could you explain why that would be? (knowledge wise) )and will the price still drop?
Thank you!
GianfrancoFidalis
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@AshaDi, Hi AshaDi. This is a triangle and now the price is going to be compressed. When we have an explosion of the price , the price can go up or down. For me will go down and if will be an explosin soft ...... the price will do what I wrote or if the explosion will be strong... the price dont come back to touch the new resistence.We see what will happen. Sorry for my English. I hope to explain to you.
AshaDi
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@ulisse010, thanks for the explanation, that was exactly my confusing! The uptrend has been there for over a year and finally the RSI shows divergence, however, the market seems trapped into an ascending triangle, and with [Ascending] triangle the market usually goes up after the explosion... which contradicts to the RSI bearish divergence...I have placed an order with a stop loss at 0.8173... do you reckon it will survive?
GianfrancoFidalis
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@AshaDi, you are free to do what you like but I put Stop Loss 0.81122 becouse is the maximum of the candle yesterday and if the price will broken the trend line mean that the price will go Up. But every body can do what is correct for him.
GianfrancoFidalis
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@AshaDi, Yes , we say same thing. We have divergence and ..... divergence say .....Short. Same. Look EURNZD H4 now. May be will go long. If you like my job give me some LIKE
GianfrancoFidalis
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@AshaDi, if i look your job .... you nust go Short when will be broken the minimum of the first candle. We use different things but we say same.
AshaDi
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thanks! @ulisse010, u mean the lowest point of the first green candlestick from the evening star?