Local top on OCEAN/USD
Reasons:
1) bearish divergence at RSI 70
2) CMF crossing zero line
Reasons:
1) bearish divergence at RSI 70
2) CMF crossing zero line
Comment:
3) rising wedge
Comment:
Drilling down into the 6H chart, we can see more clearly what's happening.
Momentum waning, CMF clearly aiming to cross below Zero line.
Momentum waning, CMF clearly aiming to cross below Zero line.
Comment:
Backtest with weak momentum, still short:
Comment:
Drilling down into 6H
1) successful backtest
2) momentum looking weaker than before
1) successful backtest
2) momentum looking weaker than before
