QuoteDislikedavijitpyne: !!! where go Darling Euro next week !!!!
In my view i see euro touch 65 days high .But not break..... still chance for reversal from here. Coz its very important resistance for euro.... Also MACD show very deep divergence ..... Its totally interesting..........
What should we do or i do ???
Better waiting for another daily candle .If next daily candle close above resistance then we can take long entry and stoploss on candle low price.
If candle close below resistance then we can take short entry with stoploss on candle...
When looking for divergence look at recent pa relative recent MACD, not historical. It is a derivative and relative to momentum.In the past, if it had to move further, MACD would be higher, does not mean it can not go higher now if higher starting point. E.g. you will get a lot of bearish divergence in a significant uptrend, as first move is faster.
I like rsi for divergence, clearer to see and simpler IMO.
In a MACD and RSI, I am however seeing some bearish divergence on higher time frames. Might at least be good for a pb here.
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