But you must agree with me that a price decrease of 200 pips in 3 hours is suspicious. In addition, we have a divergence on MACD. So..again...I hope you are wrong...;-)
Your divergence that you refer to is on the 60 min chart, but not on your daily. They are not aligned. However, as I said before, that 1 hour chart says to me that we are in beginning of a new uptrend. The drop today had to happen. We've gone too high without a significant pause. It was taking pressure off. I am choosing 140 because its a big round number and GY likes those. Almost natural support and resistance areas. The 200 EMA on the Daily chart is still looming way up there, even above 140. Price naturally gravitates to this EMA, very important to keep on all of your charts. Price has also broken thru Ichimoku cloud which is bullish. Don't want to overwhelm you with all that I consider for trading, but I hope some of this may assist. GL!
I have the EMA200 in all my charts and I understand its importance. It seems dificult to me that price goes straight to the EMA200 on the daily chart...but we never know.
About the MACD divergence, I spot it on 4H chart, but it is on 1H chart as well.
Anyway, your comments leave me in doubt and therefore I will take measures to protect me. Thank you again for your advice.