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A trendline with more than three touches.
I went to the 2h so that you can see this divergence better. This is an RSI divergence which is showing us the weakness on this uptrend.
As we look at this pivot we can see that If we sell we would be respecting the pivot as I always buy above the pivot and sell below the pivot as it acts as resistance giving me a safe spot to put my Sl.
After putting the daily high low indicator we can see that breaking the white line will result in breaking a 3day resistance that we could not break out of.
cherrs good luck!!!!
A trendline with more than three touches.
I went to the 2h so that you can see this divergence better. This is an RSI divergence which is showing us the weakness on this uptrend.
As we look at this pivot we can see that If we sell we would be respecting the pivot as I always buy above the pivot and sell below the pivot as it acts as resistance giving me a safe spot to put my Sl.
After putting the daily high low indicator we can see that breaking the white line will result in breaking a 3day resistance that we could not break out of.
cherrs good luck!!!!
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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.