Bullish divergence in Crude Oil (WTI) H4 opening for correction
Bullish divergence in Crude Oil (WTI) H4 opening for correction back towards 35$ (round number),
34,80$ supportline and 34$ (0.38 Fib support).
This scenario might play out, if the ECB rate decision, today 13:45 CET, disappoints markets, e.g. postponing further ratecuts and
QE measures to the...
We have a bullish trend line on the 4 hour gold chart with 5 solid touch points.
The black arrows on the chart and the RSI indicate the bearish divergence. The first one occurred in the overbought range, however my only issue with this is that the current divergence is not all above the overbought range.
However, I still like this because, despite being weak...
Off the back of the Federal reserves interest rate hike decision last year, this pair entered a long period of consolidation before finally breaking to the upside during the beginning of Feburary and proceeding to complete an Elliot wave cycle. A possible imminent Bearish run presented itself during the Friday trading hours as the price broke through the Kumo...
Unfortunately we hit last stop loss but there was no close above the previous highest high.
So, there is a high probability to catch the trade again. Risk averse traders can join the trade by sell limit at the low of this week candle. FX:USDCAD
If Risk is too high for you .... wait for nice price action/ pattern formation in lower timeframes.
Reason for Trade...
FX:USDJPY is in a harmonic move these days. There was a bat pattern and now we are in the next bat pattern. And this is a great opportunity to go short. As we see price has not hit the D leg yet. We have an additional confluence bearish divergence. The R/R is very good, stops go above 120.26 and our targets will be 119.21 and 119.79. Look for structure...
Hello traders.
Today on FX:GBPUSD we have a very nice shorting opportunity. The price has made perfect double top @1.5470 at very strong structure resistance level. For more confluence look left or switch to daily or 4h timeframe to see it better. Then price broke the neckline and went back @fibs 61.8 which gives us a 2618 setup and very nice shorting...
AMEX:SPY
A few observations:
- Building bear divergences
- Double bottom 181-182
- 9/21 EMA trending down
- MACD Negative (first time since 12/2011)
- First time crossed 100 MA since 12/2011
Even though $181 support held, the strong bull trend is losing momentum. I believe the days of faithfully making a new high following each market correction are history. ...
The last night pump was very weak and has created a significant bearish divergence.
Despite the low volume, the 6H and 12H MACD is still strong. This one has a very high potential to form the rising wedge that rises to slightly above the resistance around 1516-1520.
Keep an eye on the volume or any leading indicators - if the next pump shows another bearish...
Four out of five days the price for the Fiber advanced last week, for a total of 250 pips, printing a higher high in a string of consecutive higher highs and higher lows since it came off its low over a month ago. Ever since the FED went data dependent, there is a lot of volatility in this pair around the release of US data items. The bearish sentiment on the...
Look at this price action on Brent. On the daily it is visible that the price is close to the 38.2 Fibonacci retrace and XA=BC. The PRZ (potential reversal zone) could be between 70 and $72, buuuut... look at the 240 min chart. Perfect Rising Wedge with a very interesting divergence on the MACD. And we should add the fact that $70 is actually an 127.2 expansion of...
Seeing a high test close on Friday below 1.5400 combined with bearish divergence on Stochastic sounds like preparation for price to possibly fall into perhaps a previous support level at ~1.5100. This set up gives a rough 1:1 reward:risk profile if the stop is placed above Friday's high test bar.
