Ash_FXtradingMadeSimple

Divergence spotted please comment your opinion

OANDA:GBPUSD   British Pound / U.S. Dollar
So price is in a downtrend making lower lows but my stochastic is making higher highs. Classic pattern for a reversal, I did put a sell signal out on this trade on Friday but just spotted this and now stuck what to doπŸ˜….
My thinking is if price does break my major resistance line I may look for sells as this divergence is suggesting a reversal.

Appreciate it if anyone can comment there thoughts on this. πŸ‘πŸ»
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Comments

Yeah 100% if it breaks and retest my resistance level I’m in for buys πŸ‘πŸ»
+1 Reply
Looks like the divergence I spotted was right, trend reversed the other way, around 120pips and still going
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Appreciate the comment & knowledge πŸ€œπŸ»πŸ€›πŸ»
Reply
1 hr divergence in my experience is not a strong indicator of trend change. Almost always a very short retracement. I have seen a lot of false signals from H1 Divergence. I would prefer H4 divergence set ups then wait for a uble bottom or top (or even a W or M formation) to confirm that H4 divergence.
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Hi I think that the bullish divergence on the stochastic suggests rather a long position
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