NZDCHF getting ready for a short.
Severely overbought on the 1D, 12h has a bear divergence, 6h 4h 3h all have bear divergences, just waiting for lower timeframes to print bear divergences before setting up a short.
This should be close to the absolute top, 0 drawdown.
If it really wants to get over extended it can go to the next node near 0.786 (but highly doubtful).
Reasons for my position:
- It's sitting on the second-highest volume node
- Momentum has slowed, Bog printed bear divergence
- Fisher going to show a bear div, Z-Score saying that it's over two std devs above mean, at one point reaching close 3 std devs
- SMI and SMIO (illustrated by the slope) losing momentum and about to cross over bearish.