Link USDT Triple bullish missing right shoulder divergence

LINKT USDT Bullish missing right shoulder divergence

On the daily we see a triple divergence with a so called missing right shoulder.
Price diverges with MACD-H, MACD lines, and Elder Force Index.

Trade is invalidated if the price is below the support line, more then 2 ATR lines away.

I am seeing this ticking up in the coming days.
The unsure thing is the weekly though. I still see nothing going up yet, and MACD-H and 21 EMA are both declinging.

But what I see is the following.

I have drawn four arrows in blue on the weekly, which makes me to enter this trade (after I have found a good entry on a shorter timeframe)

From top to bottom:

- Long bottom wicks. It looks like it does not want to go lower
- Depending on how the weekly closes, the MACD-H does not go much lower anymore, and we can expect it to go up again.
- EFI is on a very low level and could go up, although there is no curling up yet
- Stochastic RSI extremely oversold, although this is an unreliable sign in a downtrend

Each of these points individually do not say that much, but those combined do.

Stoploss: 1.44

Entry: Around 1.80 to 1.83

Exit: 2.45 to 2.60, Roughly 2,5 ATR away on the weekly timeframe

Comment:

I had placed a buy order during the night. Got in at 1.82. I could not follow the market and I thought it would at least pullback to the EMA on the 1H chart, which it did.

Later we saw a strong dump on huge volume, but that is something you can't anticipate for.

Trade closed: target reached:

Trade worked out perfectly. You could even go out way higher if you stayed in the trade.

Top level of target zone reached. 41% profit