CAD/CHF Bearish Divergences, RSI Overbought and a Doji

11 thg 1, 2022

There are multiple strong Divergences on the CAD/CHF 4H Chart - this might be an indication of a trend reversal in the next hours.
The last candles show an interesting picture: obviously, there was a very strong uptrend in the last few days. The Price broke through the resistance level R1 and then moved up to the next level.
Eventually, R2 was crossed by a huge green candle but the next candle that was slightly above R2 formed a Doji Candlestick. At the time of this writing, the current candle is red. The Doji could be a sign of indecision - the whole formation and the fact that this is happing above R2 could indicate a trend reversal.
The bearish divergences and the fact that RSI is overbought do support the idea of a trend reversal.
The weekly Pivot Point is still untouched - so the price might drop to this level (0.72366).

13 thg 1, 2022

Giao dịch được đóng thủ công

I'd say this was a huge move into the predicted direction. On the way down, a bullish CCI Divergence appeared and the price went up a little bit before it kept falling.
Not sure about this divergence, price might start to rise again so I'd rather recommend to get out of this trade - it can already be considered as a huge success!