"great buying opportunity" is it? I am not certain, in fact I am more and more in favour of a possibility of a reversal, just look at the attached weekly chart. Bloody hell, looks like a divergence based reversal in the making, obviously still early to say, but daily already is bearish.
Daily EUR/USD trades
- Thread starter romik
- Start date
agreed there is a divergence. Not unlike divergence on weekly chart 2004, but it went on to clock another high along with another divergence.
Ok maybe "great buying opportunity" was a bit strong. I bought in because I liked the flag formation, hope it works out but I'm out if it breaks down.
Ok maybe "great buying opportunity" was a bit strong. I bought in because I liked the flag formation, hope it works out but I'm out if it breaks down.
just been mentioned by another ET member, 60 bullish divergence and 240 is showing a bullish failure swing, which is first after the decline, also MACD has a tendency to follow suit after RSI performs 1 or more failure swings, so signs of potential continuation are there, though I feel that it will only become solid when the daily chart stops looking bearish, which it does IMO.
