looks like another wedge squeeze, I'm showing down trending pressure still, expecting a new lower low than where it is at.. 1 hr to 5 hours away. currently with near term price I'm neutral across w/falling prices, waiting for another signal.
Price has worked it's way higher since the last lows that have been forming from the recent down cycle. Starting to show signs of weakness towards the upside. With all the conflicting time chart indicators pointing in all different directions, currently short term: pricing moving more neutral to upside, longer term: pressure is for the larger down trending cycle.
Still in a down trend. IA divergence should start forming or normal arc signals, when after some new low lows form up. 3 hours to 8+ hours posibly.
I'm still seeing down pressure, we are right now bouncing off red line support - upswing for correction.
This picture is for educational purposes...lets see what pricing and indicators do / "did already". If pricing and indicators fall below the red lines... (which I do not have the lines drawn in)... then those red lines all turn in to a green downtrend cycle "most likely".
Larger divergence, brings a lot of pressure, reading as down cycle for a while.
The dip shows strength, wedge squeeze, I think overall up trending after exiting the wedge, the strength shows it can still dip out of this wedge.
extended the small divergence, it now carries a little more pressure to pricing. still uptrending, with a dip to come.
possible ajustment dip, I don't like drawing small one hour lines across 4 bars, it's there and "4 bar draw lines" have a tendency to be less powerful, and it's pattern can change quickly. I'm reading a dip with a higher low than where it just came from 8300's. Up-trending pattern still shows and continues.
No divergence noted, Seems like a clean arcing cycle. Still upward trending movement.
15 min divergence chart update as that drop bar happened. I read it as I see it. Going with uptrend and a newer high.
Interested readers, Simply this is a 15 Min Bar Chart....which charts/forecasts divergence, using the tops/bottoms in their respective simple indicators available against pricing peaks/lows. Then I place an arrow(s) for a short term "guess" at the next general movement....wait...till another opportunity to draw some more guessing. I just read what I see, it's...