MACD reverse divergence says: Additional highs for GJ
The M15 shows divergence compounding to stupid levels, and with GJ hitting the upper channel TLs people might be thinking to close out their longs. But think again: Reverse divergence makes the case for additional highs.
The cyan annotations show that MACD has diverged lower despite a HH in PA, however the swing low (between the diverged peaks) is a LL compared to the prior swing low - hence reverse divergence and the implication of additional PA highs.
The purple annotations show a divergence that originates on 14 November. The same conditions described above manifest (the previous swing did not fit in the window, but it is indeed a HL). When reverse divergence subsequently fails to manifest then the next high is usually the last one.
That's two signals arguing additional highs despite the chart screaming: "This is too high too soon! PA must come down!"
It will but not yet.
http://ubuntuone.com/6k7AQkNytWt9T9MuknPD7m
The M15 shows divergence compounding to stupid levels, and with GJ hitting the upper channel TLs people might be thinking to close out their longs. But think again: Reverse divergence makes the case for additional highs.
The cyan annotations show that MACD has diverged lower despite a HH in PA, however the swing low (between the diverged peaks) is a LL compared to the prior swing low - hence reverse divergence and the implication of additional PA highs.
The purple annotations show a divergence that originates on 14 November. The same conditions described above manifest (the previous swing did not fit in the window, but it is indeed a HL). When reverse divergence subsequently fails to manifest then the next high is usually the last one.
That's two signals arguing additional highs despite the chart screaming: "This is too high too soon! PA must come down!"
It will but not yet.
http://ubuntuone.com/6k7AQkNytWt9T9MuknPD7m
cryptocurrency everytime