I haven't published a Divergence chart in a long while. Yeah I usually have busy hard to see charts, my apologies. Meanwhile I even found an under the radar 5-day H & S...and possibly a New massive H & S in the making, but for this we will have to wait. See: (Pink arcs and pink texts)
On this chart it is showing that we had TWO Bullish Divergences (green lines & arrows) and those two moved upwards as they should and have played out. Meanwhile a Bearish Divergence was in the making. Now this Bearish Divergence (red lines & arrows) is playing out and currently price action is following through on this rather large Bearish Divergence.
If price does take a bounce upwards...it would seem price is falling into a H & S situation that should play out with this Bearish Divergence action.
Short it... now later or never... I'm knee deep in shorts... lol ... Have a great Holiday Season, Good Luck Trading
On this chart it is showing that we had TWO Bullish Divergences (green lines & arrows) and those two moved upwards as they should and have played out. Meanwhile a Bearish Divergence was in the making. Now this Bearish Divergence (red lines & arrows) is playing out and currently price action is following through on this rather large Bearish Divergence.
If price does take a bounce upwards...it would seem price is falling into a H & S situation that should play out with this Bearish Divergence action.
Short it... now later or never... I'm knee deep in shorts... lol ... Have a great Holiday Season, Good Luck Trading
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This Daily Chart I have here confirms on a larger scale that the Divergences are Good, along with the possible H & S forming. It's always a good idea to see if Div's and H & S situations work on the Larger TF's for confirmation.
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What could happen... it's a good probability .. it's self explanatory.
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Volatility Low. I adjusted the timing. Blue Boxes signify lower and upper boundaries for the last Shoulder of the H & S pattern for clear confirmation, although this doesn't mean price will or has to go up from here, price could start falling. Looking at the lower indicator the "Stoch" has to move upwards. Yellow lines signify a timing cycle for the 4 hour, price should be in the up cycle.
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Patience now...price has reached minimum Height as it has entered into the lower blue box .. timeline is usually over 24 - 48 hours to see the rounding form over.
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here's the link zoomed in view to watch the 1 hour in the zone of the blue boxes.
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ABOVE last picture is the working link.