Hidden Bearsih Divergence

As you can see, RSI managed swing higher and closed slightly higher than before (Oscillator Higher High), while price made Lower Highs (LH). It's an indication that market signalled price decline will continue. But remember, it's just a signal. We will need to wait for confirmation. in this case wait for RSI goes to bearish sentiment (below median 50). Specially for this chart, RSI is lower than 40 or 35 indicates the decline continues.

This divergence is invalidated if RSI managed to make higher swing (>60)

I don't think it's the time to make a new long.

Note

forgot to mention, in addition to RSI swing higher than 60, price also swing higher than 12190. then divergence is invalidated

Note

posted this TA before end year of 2017.

Note

there's no reversal signal so far..

Note

no reversal signal, yet

added green box, our long term support. expect bounce here or if it doesnt hold, bear market is real.

not making any long yet

Note

perfectly touched green box and bounced. but, it's not a reversal yet. not sure for now. just enjoy the profit

Note

just updating some key points.. not price action

Note

for me 10336 is the most important level

Note

Market is signalling reversal. I think it's time to watch for exit level of this short

Note

4H chart is giving bullish divergence.

chipset

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

chipset

Also on: