Bearish divergence, Is that you ?
Alright team, we got ourselves a nice little channel that has been pretty nice to us... but that bearish RSI divergence is popping out telling us to expect a drop in price.
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I see 2 scenarios
1: we begin to move down and the channel acts as a support and we stay inside of it
2: we break the channel and then move down a lot more
A: there are other potential support levels past the channel on the way down but the strongest one is the pink dashed line that I marked in the mid 7500 range
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Good talk team lets see what happens throughout the rest of the day
P.S
It looks like the reaction to the bearish div has already started now we are just waiting to see how strong that reaction is
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I see 2 scenarios
1: we begin to move down and the channel acts as a support and we stay inside of it
2: we break the channel and then move down a lot more
A: there are other potential support levels past the channel on the way down but the strongest one is the pink dashed line that I marked in the mid 7500 range
_____________________________________
Good talk team lets see what happens throughout the rest of the day
P.S
It looks like the reaction to the bearish div has already started now we are just waiting to see how strong that reaction is
Nota
So just to add a bit more detail, here are a few more time frames that i'm looking at15 min:
4 Hour:
Daily:
Nota
The 15 min chart shows a bit of bullish div so we can look forward to another push which would ideally create bearish div on small time frames as wellNota
isn't it great when things work out ______________________________
Here's the plan now
- I don't think this was the big move down because of the bullish div that we just formed
- Also the channel looks like its holding so far
-expect a move back up
- then after that we might have another try at the channel
- I'm looking to break the channel the second time
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*keep in mind this would work assuming things work out perfectly which we all know is rare*
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.