My expectation is as seen by everyone we have a SHS formation at the bottom is expectation that it will be acting as a reversal.
We have seen this scenario before so there is a probability that this reversal will get back to the levels of 5200usd and then revert back to the bottom again for further consolidation after that point my guess is that will break upwards...
Possible shorting entry at the end of this hour is the bear bar will be full though we dont have any divergence on the daily graph.
Pros: Triple up, divergence, below the trendline
Cons; divergence is not significant, no divergence on the daily graph
Action; strong bear close as signal bar then get into the position w 500chf risk.
After the 4th divergence there's bull set up with a good follow up and 3rd bar reverses though not significant.
Didnt enter the 4th as it was a long set up with low position sizing if th3 4th bar is a good bull bar i can get into the long position with 500chf risk.
Many divergences falling short & creating new lows in a predefined channel - similar to the move of AUDNZD at the end of 2015.
If they will have been entered as reversal many of them will have been fell short.
In the last couple of lower lows we are on the upper half of the channel and after this decline if there will be a...
USDTRY chart had a very good second divergence to short that normally i would have taken very likely. The thing that bothers me it the length of the signal bar & bullish return at the end.
Follow through was no as strong & the trendline is not broken so will wait for the 3rd divergence for a reversal and can take a short later.
IN CSGN we are at the 2nd divergence and a good bull reversal sign though
One of the negative point is currently we are at a historical low not broke any trend-line though supported by 2 trend-lines.
And the volume of bull reversal is below MA.
Today's opening i will put a stop at 11.24 and entry at 11.50
Risk that i will take is 250 chf due to cash position...