This Bullish Ascending Triangle has a much higher chance of breaking to upside now that we have discovered a necessary condition.
It sounds counter-intuitive but if a bullish ascending triangle has Bearish Divergence on RSI, it's much more likely to break to upside... we currently have Bearish Divergence on 1H and 2H
Considering the Fundamental news is particularly strong with Infrastructure just passing the Senate floor an hour ago and Powell sounding more dovish than usual.... we should see the 46K target soon
Bearish divergence breaking to the upside? What? XD you've actually discovered evidence to the contrary. It's more likely to break to the downside because of the divergence and dropping volume.
That being said you never know when a move comes and you need a s/l. Good luck.
simplejoe1
⋅
if it's called a bearish divergence, why is it a bullish sign?
AdrianZen
⋅
@simplejoe1, because permabulls don't care if it's bearish.
You had all the bearish signs in front of you, yet you said it would break to the upside. A bearish divergence happens when the price keeps on rising and the indicators are showing a loss of momentum, volume, RSI etc. I don't understand, man. Good luck next time.