CCI Divergence on a large scale - pull back time
Updated
ITs been a nice ride up, and sentiment looks very good. However for any kind of continuation we need some cooling off in the form of pull back.
There a divergence on the 15min and 1 hr charts on the RSI, playing into the CCI pullback on the 1day chart.
The 4 hr chart shows CCI divergence and is starting to show RSI too.
A 50% retrace to ~7300 would be enough, may even get away with less.
Shorting is tough to do with the kind of movement we have seen in the last couple of days. However, I already started and whilst writing this an alert just popped up saying a retrace is occurring.....
There a divergence on the 15min and 1 hr charts on the RSI, playing into the CCI pullback on the 1day chart.
The 4 hr chart shows CCI divergence and is starting to show RSI too.
A 50% retrace to ~7300 would be enough, may even get away with less.
Shorting is tough to do with the kind of movement we have seen in the last couple of days. However, I already started and whilst writing this an alert just popped up saying a retrace is occurring.....
Trade closed: target reached
pull back not as big as expected, but enough to cancel the divergence.
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