Short term might be a bullish divergence, and the price might move back up before testing new lows. Overall I believe the uptrend will resume, but first the 105.500 will be tested, at which point it will be heavely oversold.
Such a pity the original idea was posted with a bug/error/issue and did not display what i actually meant to show - and i need to use other colors for charts as well. This is what happens when you use other people's charts.The original one pointed out to divergence in RSI with the high of the S&P and other indices, and it was the best point to sell. I wish more...
Noted some negative divergence on the tops of CCI and RSI and MACD turning to a downward trend (same happened in NAS and SP and they are down 5% now). Should be getting lower from here..but it has a magical bull force that kept it up 100% with no ERs so who knows - maybe bulls will keep it up amidst the whole market sell-off. But if goes lower, you know where...
Decided to post this although it is late to call the tops here (although i managed to post a chart earlier closer to the top). S&P broke many of the possible support lines and in my opinion the previous trend is not there anymore (it ended at crossing of 1945...just like WWII start) While the main noticeable trend (blue dotted lines) that is a "connect the lows...
week by week EURUSD is down. Why will I think of going long? My usual channel with price macd divergence setup. Pending channel break for entry. I am willing to hold if it goes higher n short even bigger.
GBPJPY has been in a consolidation period period for a few months now, just recently broke upwards putting in substantially higher highs. Price has retraced back into previous highs providing an opportunity to go long for another upward wave. Candlewicks showing price is respecting this support level RSI showing pretty huge bullish divergence Upward trend...
Target 1 at 0.95 (rounded off) followed by the second target at 0.94432.
My standard channel and trending to go short after channel breaks with a small macd divergence.
A low test close on CHF/JPY presents an opportunity for a long position. Today's low test price bar has tested the 114.70 level and is likely to close above it as well as above the 50% retracement and the 20 ema. There is, adding to this setup, supportive hidden bullish divergence (trend continuation divergence). The Stochastic indicator is in oversold territory...
Short opportunity on the 240 min USDJPY. Double top. RSI overbought on the Daily chart RSI divergence Bearish reversal candle for Fridays close on the 240 1st Target at the 382 fib (108.421) 2nd Target at the 786 fib (107.320) (previous consolidation) Stops just above recent high at 109.540 roll stops forward to break even at 1st target
Looks like a rising wedge on falling volume with each up tick having less and less momentum as shown by the divergent RSI and stochastic. First target is near the bottom of the wedge. If price goes above the topping doji at $53.64, then the pattern is busted.
Notes on chart with 2 possible scenarios. Either ways, a corrective move back to 1.4175 is likely.
a D1 ed channel has a smaller h1 channel colliding with it at the top. IF price does really goes down, it will have completed a 2 weeks high flush bull trap, and perhaps price will resume the strong trend seen in may. All is too prematured now and I really want to see the reaction within this blue oval. I got a small scout position in so still monitoring it. h1...
GBPCAD is currently at the 5 months low resistance which functions as a neckline. I have a h1 channel macd setup and should price plunge below yesterday low, it will signify the completion of a slanted hns and a completion of a flush of 4 weeks high. Then it may be the start of a nice ride down.
I see a h1 channel emerging with 2 day bull trap. There is macd divergence but it is flattish at the moment. Price currently found support on a d1 Trenline ( black) I have entered a first position and should there be a retest at the blue circle, I will have more entries at the right shoulder. this may run contradiction to the other EUR crosses which i am shorting.
Currently at a day channel top and there are evidence of new high halted. I am waiting for the a 2 weeks high to be flushed before adding full size positions in. Long time wise, SGD will be strengthening. On h1 setup, I will be looking for a channel break which has Macd divergence now. If a right shoulder/ retest cna be made it will be even more excellent.
It is not wise to short against USD crosses as USD is currently very strong. However there is currently a macd divergence on h1 and I am keen to document the reliability of h1 setup as a standalone trading oppoturnity. A prudent entry will be to wait for test at 21.408. Really there is no hurry to get in here as it is countertrend. Staying patient is the way to go.
Last week DAX jump with SP500 to 9900 zone after the Alibaba madness. DAX is back down currently to 9700 small resistance zone. On the daily DAX created a RSI divergence and bearish top candle 9758 is weekly Pivot / next resistance 9600 good old heavy resistance in 2014 If 9600 (9624 weekly S1) hold again DAX will have an other attempt to jump to new top. 9400...