Just posting to keep track of this Bearish RSI divergence on the DOW and SP500. Not financial advice.
Bearish Divergence: When price makes a higher high, yet RSI makes a lower HIGH.
Bullish Divergence: When price makes a lower low, yet RSI makes a higher LOW.
I've pointed out the most significant High volume nodes (yellow horizontals) and low volume nodes (blue horizontals) in the chart.
To put it simple: High volume nodes are price areas where there was significant trading volume. The opposite is true for low volume nodes. Price tends to stick and float around HVNs but hates to be inside LVNs; inside LVNs you...
Heres an Ichimoku summary for those that don't know (analysis at the bottom). I am not an expert, I'm simply showing you what I have learned. Feel free to call me out on my mistakes, I love it.
5 Main things you need to know for Ichimoku:
1--- Where is price in relation to the cloud? Above, below or inside?
2--- The cloud -- Cloud will...
I placed support and resistance lines based on rejections and bounces. Look at how they matched up to the volume profile. I just started reading on Renko charts today, but to put it simple:
Renko does not chart out every single unit of time hence why you dont see much squares on the chart despite being a daily chart; it is more reliant on price movement. A new...
I stretched out the averages to 200 on the %R and %B indicators to clear the noise out of the market. What do you see? These indicators basically signal an overbought/oversold signal. What the chart saying?
Trendlines are converging for early July. Will we see fireworks?
I know were in a bear trend at the moment and charting or saying anything bullish makes you uncool in the social media world; but there you go, some hope. Yea we may completely fail it, but its there and this is valid for the moment.
Enjoy the ride and have fun!