Look at the bigger divergence that appeared on the D-chart currently. Could this indicate a downtrend? May leg C be the next one?
This is how I use Divergence technique:
After a Divergence has occured I look for possible trend lines that might be the trigger to do an entry.
When the trend line is broken I do the entry straight away.
It is very often testing the entry level, and therefore a suitable stop loss is necessary.
This is how I use Divergence technique:
After a Divergence has occured I look for possible trend lines that might be the trigger to do an entry.
When the trend line is broken I do the entry straight away.
It is very often testing the entry level, and therefore a suitable stop loss is necessary.
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Fib-Channel on the Downtrend:
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Local entry level is broken currently which is a bad sign for bulls..