A classic divergence setup on the hourly chart of NEOBTC: price was making higher highs, while an oscillator ( commodity channel index , CCI ) was making lower highs. A clear sign of a trend reversal.
RSI was making higher highs, so that's not supporting the divergence idea, but it is increasingly overbought and this is of course an additional sign for a reversal.
The current daily pivot point is yet untouched, so I think this is a perfect profit target for going short on NEOBTC .
RSI was making higher highs, so that's not supporting the divergence idea, but it is increasingly overbought and this is of course an additional sign for a reversal.
The current daily pivot point is yet untouched, so I think this is a perfect profit target for going short on NEOBTC .
Trade closed: target reached:
Profit target was reached as predicted. Direct hit :-)
Pro Divergence - get it here: https://bit.ly/prodivergence
Lifetime Access All Areas - https://bit.ly/lifetime-allarea
GET THE CCIDivergence STUDY FOR FREE: http://bit.ly/CCIDivFree
Lifetime Access All Areas - https://bit.ly/lifetime-allarea
GET THE CCIDivergence STUDY FOR FREE: http://bit.ly/CCIDivFree
