Very clear divergence on the 15 minute chart, as well as hidden and normal bearish divergence on the 5m charts. Make sure to look for other indicators to confirm.
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Both RSI and Stochasitcs at the 15m interval tested the divergence trendline which held, followed by declining prices and trade volume. Crossover occurred but didn't have any bearish candle to confirm the divergence at that point.
Divergence on RSI at 30m to 2h intervals is also more apparent which to me implies that it will be a while before a reversal sign is seen, if at all. I'd estimate that if one isn't seen within the next 4-6 hours that it was a false signal.
Divergence on RSI at 30m to 2h intervals is also more apparent which to me implies that it will be a while before a reversal sign is seen, if at all. I'd estimate that if one isn't seen within the next 4-6 hours that it was a false signal.
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Didn't notice the rising wedge pattern at first, but it is also very apparent on 1h view.
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I'd call the signal a failure. The price eventually dropped after tests on the oscillator held, but it was a .618 retracement starting from the point where the divergence occurred prior to beginning to climb once more.
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Also, ignore the white line in the previous image...I moved it to somewhere arbitrary on accident and forgot about it...it literally means nothing.
Switching over to a 21,8,3 Stochcastic set up, I would look for strong confirmation signals around the time that the %K and %D line crossover as they have been surprisingly predictive of reversal points, but are not by any means actual indications.