Dailys:
Link is forming major Divergence on the CCI, forming a HH while the CCI barely dribbles out of the midrange channel. Daily closed as a Bear Hammer at a strong level of previous resistance.
Previous times we've been here Link's also shown a pattern of a strong, High volume push to the level, with a weak, low volume second attempt, before a plunge.
We've had the strong, high volume push, we're currently in a weak, low volume second attempt, and so I'm betting on the fact we're about to see a plunge.
Another bounce on the 4H support, which will line up with the trendline by the time we get there also makes sense to me, for one last HL in our ascending triangle before a possible break of ATH.
4H:
Big, long term Divergence on the Steamroller, which has also posted a sell signal after heavy overbrought conditions.
Massive Divergence on the CCI
Bearish engulfing
Link is forming major Divergence on the CCI, forming a HH while the CCI barely dribbles out of the midrange channel. Daily closed as a Bear Hammer at a strong level of previous resistance.
Previous times we've been here Link's also shown a pattern of a strong, High volume push to the level, with a weak, low volume second attempt, before a plunge.
We've had the strong, high volume push, we're currently in a weak, low volume second attempt, and so I'm betting on the fact we're about to see a plunge.
Another bounce on the 4H support, which will line up with the trendline by the time we get there also makes sense to me, for one last HL in our ascending triangle before a possible break of ATH.
4H:
Big, long term Divergence on the Steamroller, which has also posted a sell signal after heavy overbrought conditions.
Massive Divergence on the CCI
Bearish engulfing
Trade closed: stop reached:
Wow, What a candle. Stop hit.