Even though 7455 had every reason to hold, it didn't. The price reached our first buy zone and we have a bullish divergence on RSI and MACD.
Note
Falling wedge + bullish divergence on most of the time frames from H2 to H6.
Note
Unfortunately the wedge failed miserably. Now we are watching this downtrend channel and we are waiting for a decisive move.
Note
We could have a good buying opportunity at the green dot. If we get there RSI will have a bullish divergence on H2, H3, H4, H6. Price action and volume must be watched closely.
Note
Okei, so the price is "there", the timing is off but we are where we were expecting it. Now let's see if the bulls will show up.
Note
As we said earlier, the H3 H4 and H6 RSI and MACD have bullish divergences.
Note
Our buy zone is between 7290 and 7130 with a SL at 7100. If we fall under 7100 the chances of going to 6850 will be so high that we will short it right away.
Note
First buy zone invalidated.
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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.