Short
ROP - Bearish divergence on weekly and daily
Weekly
There is a bearish divergence on the weekly, although not very pure.
I expect this to pullback to the slow EMA and further to -1 ATR, a support level of the uptrend
Daily
There is a bearish divergence here as well, impulse has become blue now.
There is a divergence on MACD-H and EFI.
Stochastic RSI is turning down, coming from an overbought condition.
Entry: 446
Target 1: 425.2
Target 2: 410.2
SL: 456.1
R/R ratio: 1:2
Note:
I’ll try to find a good entry based on a shorter TF analysis
There is a bearish divergence on the weekly, although not very pure.
I expect this to pullback to the slow EMA and further to -1 ATR, a support level of the uptrend
Daily
There is a bearish divergence here as well, impulse has become blue now.
There is a divergence on MACD-H and EFI.
Stochastic RSI is turning down, coming from an overbought condition.
Entry: 446
Target 1: 425.2
Target 2: 410.2
SL: 456.1
R/R ratio: 1:2
Note:
I’ll try to find a good entry based on a shorter TF analysis
Note
entry @ 450.4Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.