This is a very rare setup we have here a convergence-divergence setup on the same timeframe, usually on this setup we should combine D1 and H4 timeframes.
Not only that. I see more reason to short on this levels.
- double top with divergence
- clear uptrend broken, price made its first lower low
- convergence on MACD shows expected next price move
- price is testing the trendline
- EW possible expanded flat correction (not shown)
Best regards.
Not only that. I see more reason to short on this levels.
- double top with divergence
- clear uptrend broken, price made its first lower low
- convergence on MACD shows expected next price move
- price is testing the trendline
- EW possible expanded flat correction (not shown)
Best regards.
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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.