Resistance and divergence

7 days ago

The price is at the bottom of the old broken channel right now that serves as a resistance. Solid 1d divergence on RSI.
6180 is the minimum target - 1W and 1M FVG start there. Retest of the February ATH at 6150 is probable. A spike to 6100 and below is also possible.

6 days ago

Note

Pay attention that we were in a similar situation during 2020 recovery, and the price did break into the old channel very aggressively back then, but that was a final move followed by a very sharp 10% pullback out of the channel and below previous ATH. RSI was different, but still bears should be ready to some crazy final move.

6 days ago

Note

A better entry point will appear when 4h or atleast 2h negative divergence will be formed on RSI indicator. I will increase my position when I see it.

4 days ago

Note

2h divergence is already on US500 chart. I'm increasing my position, but carefully. I see many traders call for 6500-6600 - can't ignore it.

3 days ago

Note

The day ended with positive 15-30m divergences on US500, US100, US30 and a negative 15m divergence on VIX. Looks like everything is gonna gap up on monday, so I had to reduce my position. I still think it will go lower by the end of the month.

yesterday

Note

Futures gapped up slightly on monday, but there was no continuation. The price action looks similar to the one we saw at the end of July. I'm holding my short position and looking for an opportunity to increase it at higher prices this week. It can make an ATH bull trap like on July 31.

Supergalactic

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