To follow up, an interesting development. Price is weak at the trendline.
Must use lower timeframes to asses how much short side we can take.
Here is a followup to EURUSD 15min.
There was a new short divergence arrow, so I re-evaluated. There was a longer term divergence with CCI. CCI dipped below -100 to form a bullish CCI divergence. Price could not follow through to higher prices, so momentum must be about to break. Lets see.
I don't really like these trades after the NY hours.
Carl
P.S. The endpoints of my trendline: Price1: Lowest price when CCI dips below -100. Time1: Highest price bar on or after CCI peaks above 100.
Price2: Lowest price when CCI dips below 100, Time2: Highest price bar after divergent CCI indication above 100.
Sorry about the explanation, it is not easy to explain.
Must use lower timeframes to asses how much short side we can take.
Here is a followup to EURUSD 15min.
There was a new short divergence arrow, so I re-evaluated. There was a longer term divergence with CCI. CCI dipped below -100 to form a bullish CCI divergence. Price could not follow through to higher prices, so momentum must be about to break. Lets see.
I don't really like these trades after the NY hours.
Carl
P.S. The endpoints of my trendline: Price1: Lowest price when CCI dips below -100. Time1: Highest price bar on or after CCI peaks above 100.
Price2: Lowest price when CCI dips below 100, Time2: Highest price bar after divergent CCI indication above 100.
Sorry about the explanation, it is not easy to explain.