DislikedThanks again, Pips, i always learn from you(so does my dog). You opened my eyes to this divergence concept, just look at the usd/chf. what do you think? (Trendlines may not be right)Ignored
Be careful shorting swissie....It looks like price may be setting up for a retrace, but I want to see a close below .2412 to even think about a counter trade to the 21 (and I think .2372 will be support)...Price has bounced from a TL I've had on my chart at 1.2463...and it is heading down....
Personally, I'm letting this baby establish it's new ping-pong range (hehe)...I play a lot of ping pong w/this pair (and my last buy has given mucho pips!!)...(on the surface, I'd say, get ready to sell w/close below 1.2372...target 1.2338...if breaks below that level....1.2304....then the 89 and most likely, the former level of 1.2255....If I see a few failures of the upper TL on the hourly (but I need to see a top formed first), I might get aggressive and short w/tight stop.
Here's a copy of my chart....
Pips
PS Look for Buy opps at these levels. w/MACD conf. too..That's my plan..& I'm sticking to it, maybe