The price has formed a symmetrical triangle and has rejected the resistance zone so we are expecting the price to shift into a bearish trend.
There is a MACD divergence shown in the graph
Comment your opinion!
(This is an update to one published earlier. The rhombus on this chart is bigger than the one drawn on the previous one)
The regular rhombus is a powerful reversal pattern taught by my mentor Rodney Ahenkan (Papa Smurf). I tend to look for it at reversal areas, especially at the pivot lines and support/resistance areas of the RECTANGLE STRATEGY (again as taught...
The Price is forming again a symmetrical triangle, but given the strong resistance that is facing, we are expecting the Price to bounce again due to the MACD divergence.
RSI level didn't show a sign of confirmation of the ruptura of the resistance
The price has broken the symmetrical triangle and closed above the resistance so we are expecting the price to continue its upward trend.
MACD divergence is shown in the graph
Comment below your opinions
HKEX:291 has formed a head and shoulder pattern. The right shoulder is also a double bottom pattern.
MACD divergence occurred at two previous point on 1st Mar and 14th Mar.
MACD showed a buying signal on 18th Mar, which broke two recent tops and also the resistance of the head and shoulder pattern.
Cut loss @30.7
Target 1st target @35.65, 2nd target @40 to new...
On the 15 minutes chart of SPX500, we can see very clearly the divergence between MACD and the price records, the divergence on MACD indicator is not a signal for me to sell, it just tells me that the uptrend we can see on the 15 minutes chart is powerless, there are 2 options I'm waiting for to sell.
1 - if the price will breakout the support below I'll look for...
Well as you can see in the W1 Timeline, in the past week; FX:EURUSD rallies the price significantly and reached above 1.1300 Level and probably tries to touch and retest EMA 20, and for those who long trade fans; there is long position opportunity but need very small lot size because of probably volatility risk.
In other hand MACD give us a signal of divergence...
As we can see in the 1-hour chart on EURUSD there is a divergence between the MACD indicator and the price himself, while the price creates high and higher High, the MACD shows high and lower high, this divergence indicates that the buyers of this uptrend getting wick, I'll still wait to see if the price will breakout The confirmation zone which is the support...