I will leave this chart fairly uncommented, it should be very clear what happens, if we start a move up, or will close below the monthly Pivot Level on 3D. Everyone should know how to figure out targets and what happens if they are either met or failed. Pivot´s and Divergences (also Volume) are three of my seven favourite indicators that I have melted into a tool,...
As this looks like a sell at resistance(red) and buy at support(long), it can potentially be a trap to the traders, look how the RSI hidden divergence shows up.
What's your trade plan? Comment down below.
H4 - As long as 125.70 holds (false breaks are acceptable) we can be looking for sell setups. The hidden divergence started turning into continuing divergence – bottom line is, there is bearish pressure. Testing the 125.40 level would be ideal.
H1 - We can see bearish divergence already forming and the price is inside the resistance zone.
in 4H chart:
top of the bearish parallel channel
pullback to broken support zone
61.8% fibo retracement
hidden divergence in RSI indicator
Entry : 0.6705
-Stop : 0.6745 (40 pips)
-TP1- : 0.6605 (100 pips)
-TP2- : 0.6505 (200 pips)
in daily chart:
pullback to broken area and support level
38.2% fibo retracement
this is my introduction to the stock market, and how to use the basic beginner that has a simple & riddled technique of numbers & time place in ones best spot for stocks
IDEA OF THIS/
First thing people should know is what your doing. You knowing what your doing is key to this job/business
Second thing is make sure you are willing & reading to spend the time &...