I have drawn two trendlines, I will enter a pending long on the break of the first one and then a slightly bigger pending order on the break of the second trendline.
We have divergence printed on the RSi/Momentum and therefore I'll see fi my orders are triggered
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I posted this over a week ago, the release of the NaturalGas storage readings has pushed this pair up higher and is now ready to target the missed pivot illustrated in the diagram
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EvanJones
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Also, you can see my orders never got triggered (not on here but on my platform) as price has rejected the trendline resistance. However a counter trend is overdue on this instrument
ElPatron.Y
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ElPatron.Y
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EvanJones
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Nice analysis, your MACD on your first chart if it passes lower than the previous low on the MA lines then = no divergence and price will continue downwards
timwest
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Can you show the divergence in the RSI/Momentum?
EvanJones
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Hi TimeWest, Its on the chart but shown with the arrows based on my indicator whic isn't fully ready for public release. Should also be more specific as I was in a rush writing my last post. The RSI(21) has to be in oversold territory and then during that period divergence on momentum is picked up, hence the arrow indication below the candles.