Golden Pocket Corner Pitchfork setup has an 80% chance to hit the medium line. You find a higher trade possibility
I've been working on this system for a while now. Using the MACD on high TFs I can build a range for Support, Resistance and Neutral Zones. Using this system makes for easy short term scalp plays. However just by looking at how much resistance vs support my bias is still to the down side.
MACD, RSI and Scotch RSI all showing the same divergences
When you get a double top or double bottom in price and the oscillator either puts in a lower highs (bearish) or higher lows (bullish) this is known as an Exaggerated Divergence. What we have here is a double top in price and lower highs on the MACD oscillator making an 'Exaggerated Bearish Divergence'.
1st we had the hidden bearish divergence which has now turned into a decending flat bottom triangle.
Gann PitchFan sculpting the market beautifully and showing clear resistance for our current position
With the hidden bearish divergence on the daily TF and think the bull run is over
Based on Swing Highs and Lows Algo targets can not be ignored