We see there is a pattern Regular Low Divergent (black line). Then proceed with the Hiden Divergent (blue line). We believe to be towards the point fibo 78.6% or 100% considering this second diverging including strong diverging.
Our forecast is reinforced by:
a. RVI pointing down
b. formed long tail at the point fibo 50% as the dot-resistant
Regular Divergent Low identified based on two criteria:
a. Candle lower 1st peak of the 2nd. This formula is called High from High (HH)
b. Oscillator indicator (in this case RVI / ) shows a second peak in parallel. It's called formula (DT).
Hiden Divergent identified by two criteria:
a. 1st Candle higher peaks than 2nd. This formula is called Low from High (LH)
b. Oscillator indicator (in this case RVI / ) shows the first peak is higher than the 2nd. This is called formula High from High (HH).
So the combination of both of these criteria we call HHDT for diverging first and for the second diverging called LHHH. OUR CONCLUSION Bearish
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