This divergence suggests a bullish continuation.
Can we get a follow through and move back in to a
bullish market once again? We can't say at the moment.
Once day at a time, until we get further evidence for now
we trade what we see and follow the evidence we do have.
We simply add this to the evidence. The rest of the evidence is
in my previous posts,
USDJPY Looking good to enter into another position.
We are looking for a pullback and then a higher lower high and
there we will place our sell orders. Notice my hypothesis was not
too far off the money. Not bad! Patience is key.
The idea going forward is this might turn into a weekly hold trade
and with any luck we will get that.
Nasdaq showing positive weekly divergence suggesting that the Nasdaq will
likely change trends from down to up or sideways at the least.
This fits well with my other SPX hypothesis that there is an Elliott corrective
pattern that shows some promise of being finished. Add to this the USDJPY weekly
negative divergence and strong sell off, this paints a good...
So if you missed the first entry which is too risky and I understand why you probably shouldn't
and that is fine. Do not chase it down but wait for it and a small ABC (abc if you are an Elliott gal.
Wait for this move in green which should look like an abc and place a sell order in the red circle area.
Of course this is only a hypothesis so we can't be certain...
I seldom use Elliott wave simply because of the extreme bias it has. I know that the Elliott wavers will say that
there is safe measures in place to correct your hypothesis, but why correct it, just simply use divergences or
some other method of analysis where you remove as much bias as you can? Anyways I do sometimes use it
from a long term and hopefully...
Powerful negative divergence on the weekly time frame ( a very reliable time frame in terms of divergences)
suggest that the USDJPY will likely change its multi-week trend and likely turn down or move sideways.
There is other confluence that would support this hypothesis, and a caveat here, though I am not an 'Elliottician'
( Elliott wavers) I use the patterns...
Perhaps it is too early to get in to this trade, but it looks like there is
a small bit of positive divergence on the Nasdaq 100 on the 1hr time frame.
This suggests that the markets want to reverse. The safer idea would be to
let it take off and buy upon hidden bullish divergence at some point later on in the
week or next week.
Stochastic RSI 20% bullish crossing is a dependable buy signal (or sell signal).
The stop should go below the current recent higher low. Remember to use 1% risk
maximum so calculate your position size correctly.
The zigzagging nature of the OIL's price action suggests
that the bears are finding it difficult to keep OIL down.
Though we haven't enough evidence that OIL is a buy yet,
I suspect that OIL will be bought up at some point soon.
Hidden bearish divergence suggests that the AUDUSD will resume the
larger trend down and we have not bottomed yet. A new low? We can't not say.
This is not a buy here. Most instruments are showing similar divergences.
Oil on a 4h time frame is a sell according to the Stochastic RSI strategy to sell
crossing below 80% or buying crossing above 20%. The daily (top down analysis)
supports a move to the down side. The general markets in turn look oversold and
are trying to blow off this oversold condition. Therefore it looks good enough to
take a trade. The stop should be at...
I suppose I expected a different group of chartists here on TradingView, but what I found was mostly biased bulls
with little to no humility, and since they had been right since 2011 "they" were guaranteed future rewards. After all
they called BTC a money making machine. But when times get tough, tough times tends to shed light on those who
My mistake was to omit looking at Oil from the top down. This led me to accurately spot a bullish move with divergence
and as they are reliable it moved in my favour but the longer outlook is now turning bearish. Here the daily suggests
that Oil will not move higher for now. And that a solid short lasting several days, and perhaps even a few weeks
is likely. ...