Hi guys,
Very, very interesting PA on EUR/USD today! We see a double divergence on the Stoch (15,5,5) and the PA. First, we have a hidden bearish divergence (pink lines) and then after the break of the trendline (red line) we see a bullish regular divergence (yellow lines) which triggers the retest of the major (red) trendline. My two cents, is a continuation of the (retracement) downtrend as the hidden divergence is bigger than the bullish regular, but the uptrend is strong in this EUR/USD so let's see what this brings. Very exciting and interesting PA for in the books of divergence trading!
Very, very interesting PA on EUR/USD today! We see a double divergence on the Stoch (15,5,5) and the PA. First, we have a hidden bearish divergence (pink lines) and then after the break of the trendline (red line) we see a bullish regular divergence (yellow lines) which triggers the retest of the major (red) trendline. My two cents, is a continuation of the (retracement) downtrend as the hidden divergence is bigger than the bullish regular, but the uptrend is strong in this EUR/USD so let's see what this brings. Very exciting and interesting PA for in the books of divergence trading!
Trade active:
I added additional short trades when I spotted the bearish continuation divergence confirmation by the way! Still running.
Comment:
And on hourly it went back up. Close of the H4 candle will make me close the trades and wait for a better opportunity if stays broken, or if below trendline, maintain open trades.
Trade closed: stop reached:
Closed my shorts. This was a nice move. I think we'll continue the upward strong trend again but we need some confirmation first.
Comment:
Interesting.......... This was a nice ride. Gladly, as I said there was a lot of noise due to the multiple divergences and my in between trades were small. We now have confirmation of a continuation of the downtrend. Let's see where we end up!