Hidden Bullissh Divergence

May 10, 2020

Hidden bullish divergence spotted on the RSI/CCI. We can see the price rebound to 9500-9800 area, which would be a good entry to reshort.

Potential Ideas

Long scalp
Entry 8550-8650
Stoploss 8300
Targets 9500-9800

May 10, 2020

Comment

The lines on the other two charts were not drawn from the proper price so here it is in written format

CCI at 80 at Price 7800
RSI at 61 at Price 7800

CCI at -117 at about 8550 price
RSI at 30 at about 8550 price

May 10, 2020

Comment

Stoploss hit but price bounced strongly from 8250.

May 10, 2020

Comment

I feel that this a stophunt considering the bounce, so best to re-enter the trade, and and leave the stoploss at 8200, entering 8300-8700 scaling in

May 13, 2020

Comment

Nice job guys, price is at 9300. Move up the stoploss higher. I see on some exchanges it wicked to 8185, while others was 8205, meaning the stoploss was too tight.That was a mistake and a good lesson for future to not have too tight a stoploss. Depending on the risks you take you can have a more lose or tight stoploss. Stophunts are common in this game so dont have too tight a one.