What I was trying to write down in the StochRSI indicator area but ran out of space was that Stoch and EMA zones show a pattern. The pattern is that each time StochRSI gets close OS/OB it seems like price bounce right off the EMA zones. Right now we are coming up on one over the next few hours.
There is another thing to note with StochRSI and EMA. It is that when there is double OB with no fall below StochRSI 50 a break in EMA is likely to occur. In that time of uncertainty you can see Stoch failed to even hit OB an thus broke down below EMA. The Fib level was tested as it broke again, but that was not a long lasting thing.
Note!:: Not all the time will StochRSI going OB/OS cause price to push and test EMA.
There is some strong resistance at 450 as seen in the Fib extension. Keep an eye out for this level.
I guess I better push this out quickly as the EMA was just tested.
Targets
Bull: 450.10
Bear: 439.20 then bounce!
There is another thing to note with StochRSI and EMA. It is that when there is double OB with no fall below StochRSI 50 a break in EMA is likely to occur. In that time of uncertainty you can see Stoch failed to even hit OB an thus broke down below EMA. The Fib level was tested as it broke again, but that was not a long lasting thing.
Note!:: Not all the time will StochRSI going OB/OS cause price to push and test EMA.
There is some strong resistance at 450 as seen in the Fib extension. Keep an eye out for this level.
I guess I better push this out quickly as the EMA was just tested.
Targets
Bull: 450.10
Bear: 439.20 then bounce!