Double Stoch Divergence and Break of Trendline
Updated
Hi guys,
Very, very interesting PA on EUR/USD today! We see a double divergence on the Stoch (15,5,5) and the PA. First, we have a hidden bearish divergence (pink lines) and then after the break of the trendline (red line) we see a bullish regular divergence (yellow lines) which triggers the retest of the major (red) trendline. My two cents, is a continuation of the (retracement) downtrend as the hidden divergence is bigger than the bullish regular, but the uptrend is strong in this EUR/USD so let's see what this brings. Very exciting and interesting PA for in the books of divergence trading!
Very, very interesting PA on EUR/USD today! We see a double divergence on the Stoch (15,5,5) and the PA. First, we have a hidden bearish divergence (pink lines) and then after the break of the trendline (red line) we see a bullish regular divergence (yellow lines) which triggers the retest of the major (red) trendline. My two cents, is a continuation of the (retracement) downtrend as the hidden divergence is bigger than the bullish regular, but the uptrend is strong in this EUR/USD so let's see what this brings. Very exciting and interesting PA for in the books of divergence trading!
Trade active
I added additional short trades when I spotted the bearish continuation divergence confirmation by the way! Still running.Note
And on hourly it went back up. Close of the H4 candle will make me close the trades and wait for a better opportunity if stays broken, or if below trendline, maintain open trades.Trade closed: stop reached
Closed my shorts. This was a nice move. I think we'll continue the upward strong trend again but we need some confirmation first.Note
Interesting.......... This was a nice ride. Gladly, as I said there was a lot of noise due to the multiple divergences and my in between trades were small. We now have confirmation of a continuation of the downtrend. Let's see where we end up!
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