GBPJPY in a bearish trend. Making a retracement and putting in some long wicks against structural resistance. Resistance lines up with .382 .50 fib retracements from the last two swing highs. Bearish divergence. Going for a limit sell at 172.3
Bullish momentum divergence occurring at a major support level for CVX which also happens to be hitting the 100 SMA. A couple of candles of indecision make it look like CVX could be prime for a climb to its newly formed resistance level.
Hi kids, today's lesson is about the hidden bullish divergence.
USDJPY just hit the top of a descending triangle, and is putting up a lot of bearish divergence. Expecting prices to drop down back to last low. Setting SL right above structure resistance.
SWN bounced off support the past 2 days coming of a 'double bottom' Bat Pattern at major support which happens to also be precisely at the .618 retracement of the larger leg which is very visible on the weekly chart. This is all coupled with some very sizeable momentum divergence from the 'B' Leg swing point to where price has currently found some stabilization....
Ignore the MA Death Crossover that BA underwent just recently. BA at this very appealing support level should become a necessity to buy up for any fund holding it. There has been some noticeable bullish momentum divergence to boot and a look to the 4hr chart indicates that we should see a little pop in the coming days to keep us out of danger. Look for a retest...
Lots of bullish divergence building up, along with bullish wedge forming. Waiting to see if price breaks resistance before going long
The price continued to fall while the RSI (14) has drawn higher lows. Divergence plus 1.3400 (round number level) could trigger a correction. For the moment 1.3450 is my first target. I am still waiting for confirmation for the bounce. By the way, have you seen that the lows are closer to the channel's trend line? :)
GBP/USD felt to really important level if there's an chance that it will conitnue the uptrend that we might be just getting to the entry point at the moment. There's an confluence of green marked Demand zone, 50% Fibo retracement of last swing up (1,669-1,719), daily trend line and the previous smaller leg up low at 1,685 level (red circle). Todays down move was...
Just to note at start, that's obvious COUNTER trend scenario and it's considered to only be an corective move towards critical ressistances that lay around 1,349-1,351 levels. As long as 1,342 level holds we might be able to enter an long trade from current levels with 1,347-8 as an possible target just below the critical downtrend ressistance zone. As the main...
Preparing for the next uptrend with a nice RSI divergence from the on the 1 hour trend. The movement of Litecoin have been rather predictable so far with a triple bottom rise on 16th July to a H&S formation collapse on 19th July. Bots camping out at 8.455 area: imageshack.com It is now clear that $8.453 and $8.52 acts as a strong support for the current...
First trend line was broken, retested. resistance comes in at 1.4616, which will be the BE level. Enter as per the chart for a riskier entry, or wait for a retest of the second trend line (which may or may not happen). Trade is biased to the upside as long as Awesome oscillator continues to turn bullish. A break of the AO's trendline could indicate weakness. RR...
Break of down trend line with a bullish divergence to oscillator. Long entry on the high as divergence usually surprise with a sudden high or low taking out the stops. Target set to the most likely sr level. Cover to be on 50% of the move.
Price has retraced to the .764 fib, (most recent high) and has remained in a range just below it. Price is currently bouncing off the .618 fib and the RSI has failed to reach the 70. mark, and continues to move lower, creating bearish divergence (see chart) first target is horizontal resistance at .9217 which also coincides with the .5 fib level. A break of...
AUDUSD was in an uptrend since approx the beginning of the year. In May the pair failed to make a new high and since then began a range, which broke the trendline. The new recent high made at the beginning of July looked to restart the trend, but instead signaled bearish divergence, as the the RSI failed to make a new high as well. I am waiting on a little pull...
To put things in perspective, the Daily chart is showing a descending triangle formation. If volume comes into play as expected, prices should rally towards the trendline around 131.00. That would essentially put the bearish Shark pattern in play. Back in Mid-March, Gold sold off heavily around 133.00/133.50, leaving me all the more confident a retest will, at...
I wouldn't say I'm expecting a minor correction or a major one for that matter anytime soon, but a reading like this on a smaller TF would alert me. I will remain bullish and view a fall in prices as an opportunity to buy. Major support break would change my sentiment.
This kind of very sharp divergence is usually quite a reliable sign of the steam being taken out of a market. Expecting a pullback to maybe the 8200 area. Could be until next week.