Sometimes after a very strong upswing (EWT speak "impulse wave" often wave 3 of a move:see daily) the final move up doesn't amount to much (exhaustive "5th" wave). Although uncommon it is composed of 3 overlapping waves (sort of like the diagram on the 120 min.)
We are still in a uptrend but it appears to be weakening. We have a bearish divergence in the daily RSI but a positive reversal in the 120 RSI. So shorter term oversold.
So I favor we sill likely have a bounce up here perhaps form a double top on the 120 min or even minimally go to a new high. Should be a good set up for a short position.
We are still in a uptrend but it appears to be weakening. We have a bearish divergence in the daily RSI but a positive reversal in the 120 RSI. So shorter term oversold.
So I favor we sill likely have a bounce up here perhaps form a double top on the 120 min or even minimally go to a new high. Should be a good set up for a short position.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.