Neo / EthereumLong
NEOETH 4H Long: Bullish Divergence of Price vs. Momentum
The 4H NEOETH chart shows a bullish divergence of price vs. momentum. The momentum indicator shows the speed at which the price is changing - a divergence of price against momentum is an indication that the current trend might reverse.
The oscillator window shows the momentum indicator and an exponential moving average with a length of 9 (EMA9) applied to it. As you can see, the EMA9 is going up.
Besides the price-candles, I applied an EMA9 too to the price to show that currently the closing prices of the candles are going down - a perfect divergence!
My indicator "Jeddingen Divergence v4" shows this kind of divergences on the chart - I surrounded them with black ellipses.
The past two divergences seemed to be very accurate - so the current divergence might be that accurate too. But we all now the saying: "Past Performance Is Not Indicative Of Future Results" - so play it safe and don't put all your eggs in one basket!
The profit target could be 0.113054 (the point where price is expected to hit the blue trendline), but I would suggest to get out earlier, for example at 0.104617 (half-way to the trendline).
The oscillator window shows the momentum indicator and an exponential moving average with a length of 9 (EMA9) applied to it. As you can see, the EMA9 is going up.
Besides the price-candles, I applied an EMA9 too to the price to show that currently the closing prices of the candles are going down - a perfect divergence!
My indicator "Jeddingen Divergence v4" shows this kind of divergences on the chart - I surrounded them with black ellipses.
The past two divergences seemed to be very accurate - so the current divergence might be that accurate too. But we all now the saying: "Past Performance Is Not Indicative Of Future Results" - so play it safe and don't put all your eggs in one basket!
The profit target could be 0.113054 (the point where price is expected to hit the blue trendline), but I would suggest to get out earlier, for example at 0.104617 (half-way to the trendline).
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