Harmony / USD - Hidden Bullish divergence

Following a near 70% correction since mid-August and oversold condition (orange column), the above 2-day chart is now indicating a reversal in price action is very probable.

On the same chart above there is a clear as day Hidden bullish divergence between price action and the oscillators that follows a regular bullish divergence. I don’t know if a chart can be any more bullish! In addition volume is seen to be increasing alongside the divergence.

Money Flow Index support (bottom oscillator) suggests support can continue through until mid-June.

Finally on the weekly chart below:

1) Stochastic RSI is crossing up 20 = bullish

2) Several weekly candles indicating strong buying pressure as previous price action resistance becomes support.

Comment:

50% in only 25 days - fantastic

Price action is quickly becoming overbought on the daily (green column) so don't fret is there's a pull back to test support.

Trade active:

5-day chart prints a Dragonfly DOJI. Expect a strong move to the upside soon.

Comment:

260% under 2-months - amazing.

Price action is overbought on the 2-day below. Sure it could go higher, everything is so bullish right now - the contrarian in me says be cautious.

Trade closed manually:

Up 600% since publishing. Can't stay long at this moment for two reasons:

1) MFI is or was @ 90. Highlighted in Cyan. Look left when RSI & MFI were previously this high.

2) Did I mention up 600% ??

Sure we may and will likely continue to be higher at the year progresses. Right now however I see the price action taking a step back.

Trade closed manually

Trade closed manually:

Still holding? Weekly chart prints a bearish engulfing candle with weekly Stochastic RSI crossing down 80. The 21-week moving average is almost a 50% correction away.

Comment:

30% correction so far with St RSI crossing down 80 on the 10-day chart, rest of the month will be quite bearish.