Bearish Hidden Divergence (Weekly), Rejection at the 240/100/50
Looking at the two charts, left side daily, right side weekly. We can see on the Weekly Chart lower highs, but higher highs on the
Stochastic (shown at the bottom) indicating Bearish Hidden Divergence. Looking further at the daily chart, we can see rejection at the 240 MA (yellow line), then rejection at the 100 (blue) and 50 day (green). Look for a Short entry Monday 5/20. Potential 100 pip move downward over the next few days.
Also on my Metatrader custom indicators (not shown) MACD showing sell on the weekly charts.
Stochastic (shown at the bottom) indicating Bearish Hidden Divergence. Looking further at the daily chart, we can see rejection at the 240 MA (yellow line), then rejection at the 100 (blue) and 50 day (green). Look for a Short entry Monday 5/20. Potential 100 pip move downward over the next few days.
Also on my Metatrader custom indicators (not shown) MACD showing sell on the weekly charts.