Tom Sequential (T.D. Sequential)
Notes: Imperfect close on the 8.
Guppy Multiple Moving Average (GMMA)
Trend Strength: Bullish, price position in relation to Moving Averages indicates . However it is overbought on multiple time frames.
Trend: Bullish but declining on the price action move up.
On Balance (O.B.V.)
Stochastic ( )
Divergence: Too long to technically be a divergence. Capped 6% lower than prior high reversal.
Relative Strength Index (R.S.I.)
Divergence: Too long to technically be a divergence. Capped 20% lower than prior high reversal.
There are several divergences on some of the higher time frames, however we are seeing some signs of a bottom transpire on the daily. We are not completely there yet though.
Looking for a retrace (Below) to the Tenkan-sen (Conversion Line in orange) and then a drop down to $7,276 shown in yellow below. As this happens I will be evaluating the divergences I see on higher time frames to consider if we will drop further to the Kijun-sen (Base Line in pink) or if they will fix themselves.
Thank you for reading and please support by clicking like on this analysis. Like, follow, share and interact to help me stay motivated to keep these trending. Thank You!
I provide analysis and I do not tell people to trade it. I provide MY analysis & what you do with it is up to you.
At the time I did not provide a entry/stop because it was an analysis not a trade idea.
If anything I prefer people read my analysis to learn so they can make their own analysis instead of using mine & other traders to trade upon.
Please do your own research and use my content to educate yourself.
I agree with your thesis, however counter trend trade require a lot of reasons in my opinion to enter the trade.
Also your distance from measuring divergence is too far apart for the time frame us.
Just some feedback however learnt quite a bit from this setup! Kudos!