Look for a failure of the price block highlighted, similar price action noted in the previous highs of 2000 & 2008.
We see the relative strength fade as price continues to rally creating regular bearish divergence, after the break of the trendline hidden bearish divergence develops as the RSI shows higher highs and price continues to fall.
2000 and 2008 were screaming at us to be short. Will 20018/2019 do the same?
52-week Moving Average displayed.
Short until a break of the All Time High proves us wrong.
Original idea by Jack
Original post to Tradrz members:
Bearish Divergence on the 1 day and 4hr.
Something to be aware of moving into the week.
We see the relative strength fade as price continues to rally creating regular bearish divergence, after the break of the trendline hidden bearish divergence develops as the RSI shows higher highs and price continues to fall.
2000 and 2008 were screaming at us to be short. Will 20018/2019 do the same?
52-week Moving Average displayed.
Short until a break of the All Time High proves us wrong.
Original idea by Jack
Original post to Tradrz members:
Bearish Divergence on the 1 day and 4hr.
Something to be aware of moving into the week.