Target: 1.3769
Invalidation point: RSI(14) on daily chart below 40 or below thick black Moving Average Composite
Reasons why:
* Positive reversals on daily chart of CFG, target 1.3769
* Bearish divergence on daily chart of CFG, which confirms uptrend
* RSI(14) mvoes between 40 and 80, which confirms uptrend
Overview of all timeframes
M: Down, NR TA: 1.0973, RR bear
W: Up: RSI>60, supp on 1.3372 (last PR TA)
D: Up: PR TA: 1.3769, divergence
4H: Down: Missed last PR / bear RR
Interesting to see if the bulls have enough power to also invalidate the negative reversal on the montly chart, which has a target of 1.0973.
Invalidation point: RSI(14) on daily chart below 40 or below thick black Moving Average Composite
Reasons why:
* Positive reversals on daily chart of CFG, target 1.3769
* Bearish divergence on daily chart of CFG, which confirms uptrend
* RSI(14) mvoes between 40 and 80, which confirms uptrend
Overview of all timeframes
M: Down, NR TA: 1.0973, RR bear
W: Up: RSI>60, supp on 1.3372 (last PR TA)
D: Up: PR TA: 1.3769, divergence
4H: Down: Missed last PR / bear RR
Interesting to see if the bulls have enough power to also invalidate the negative reversal on the montly chart, which has a target of 1.0973.
Trade closed: stop reached
Changed view to bearish, update will follow later.
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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.