As you can see the 1HOUR TF has been making an strong divergence along with the RSI.
We are currently in a downtrend, but very tricky due to the fact that we broke our previous higher highs. US30 tends to break highs as form of liquidity grab, it’s almost like it’s tricking the retailers/buyers but that’s not what’s important.
Stop loss can be set around 33200-33230 to have some breathing room.
If we break below 33920 it'll be a strong indication to the down side.
Other than that this a strong divergence on higher timeframe and adding the fact that we are in a downtrend just makes everything better.
See you at bottom!
Trend is your friend!
We are currently in a downtrend, but very tricky due to the fact that we broke our previous higher highs. US30 tends to break highs as form of liquidity grab, it’s almost like it’s tricking the retailers/buyers but that’s not what’s important.
Stop loss can be set around 33200-33230 to have some breathing room.
If we break below 33920 it'll be a strong indication to the down side.
Other than that this a strong divergence on higher timeframe and adding the fact that we are in a downtrend just makes everything better.
See you at bottom!
Trend is your friend!