A correction is well overdue on this one. There is a convincing constellation of indications on this price action, so where to begin?
A five wave impulse appears to be complete, and price action reverses tonality of the previous impulsive bullish candles. Divergences on RSX, BB%PCT. MIDAS line is crosses, while vWAP and US lines are aligned and are above the candle. VZO crossed bearishly and trigger line crossed the ribbon. BB%PCT is now bearish crossing the zero line and Ehler's Stochastic RSI is bearish as well and has been for a while.
A five wave impulse appears to be complete, and price action reverses tonality of the previous impulsive bullish candles. Divergences on RSX, BB%PCT. MIDAS line is crosses, while vWAP and US lines are aligned and are above the candle. VZO crossed bearishly and trigger line crossed the ribbon. BB%PCT is now bearish crossing the zero line and Ehler's Stochastic RSI is bearish as well and has been for a while.
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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.