Many expected to see a clear drop from a potential head and shoulder pattern. Unfortunately for us, we did not get any clear signals confirming the move.
I am looking for signals when price reaches the red zone.
If said zone is violated, price could potentially trade up to the next green zone, which would reach the trend line. We might see a bounce from there.
Since we are not seeing any divergence like we did on the previous move down, I will not taking any position on this pair for now.
Good luck
I am looking for signals when price reaches the red zone.
If said zone is violated, price could potentially trade up to the next green zone, which would reach the trend line. We might see a bounce from there.
Since we are not seeing any divergence like we did on the previous move down, I will not taking any position on this pair for now.
Good luck
Note
Careful for the 86 area! We did get a nice red candle, but that could be a simple retracement!Note
As expected, EG just reached the zone we were looking for.If the day close a shooting star, combined with a clear MacD divergence, we could have a nice trade setup.
Let's get ready
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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.