We seem to have 4hr hidden bearish divergence following a rejection of overhead resistance in our current consolidation. This excites me because the daily chart is clearly losing its negative momentum on the macd. Whats important with the daily chart is the small positive histogram island on the macd. Any rally resulting in a lower high will more than likely hit higher than this small histogram island. This will make hidden bearish divergrnce on the daily macd, which could bring is Class A bullish divergence on the daily.
So. I want this bearish divergence to play out in the short term, then the bounce.
So. I want this bearish divergence to play out in the short term, then the bounce.