@stefcom, Hey! Maybe we have the next days again a long movement, then I would change my setup :) what is your opinion? Where would you place an entry?
TradingClue
⋅
@Jwillew, I'm not sure ... on the one hand, price seems to be at a resistance level (see the daily chart: ) but on the other hand, RSI is not overbought on the daily ...
Looking at the 4H chart - price went outside the Bollinger Bands (80) and there might be some kind of RSI divergence (price is going up, while RSI is going down) - this might indicate a reversal: Finally, loking at the 1H chart, there is a CCIDivergence (divergence of price vs. CCI) while RSI is overbought - both are strong indications for a soon to happen trend reversal.
So right now, it would be a good time to enter a short trade, but it might be that prices breaks through the resistance level on the daily chart, then the upward trend might continue.
What do you think?
TradingClue
⋅
@stefcom, CCIDivergence:
Jwillew
⋅
@stefcom, I am sorry, but i don't know very much about indicators. I trying to fix my Chart just with the trend technique.
If you look on the weekly Chart, you will see that we already hit the resitance. We just have to Close this week at this high Level. I also think there will be a small pullback at the beginning of next week maybe. after the pullback I think the market is raising again to an next high Level.