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Rsi_divergence

RSI DIvergence for Bull/Bear TrapToday on Nifty, It was a bear trap after consolidation, Generally, we wait for a strong 15-minute candle when breakout/ breakdown happens. Today after the breakdown Nifty again started an upward journey, Most people thought it's going for Retracement Maybe. It spent some time on the breakdown Point. At this time if we see RSI, It was showing strength and was indicating that Nifty will go up and it was Fake Breakdown. In the past 3rd Candle RSI was at 33 and then at the same price level it was at 38, It was a clear signal that It's Bear Trap. RSI divergence help to pick easy trade. NOTE: Just compare past some candles for RSI divergence, Do not go with a long trade setup. Its most useful in intraday trade
NSE:NIFTYEducation
by tbgokani
We may see a Head and Shoulders reversal in Hero Motocorp Ltd Hero Motor Corp Ltd showing bearish signs as following: 1. Head and shoulders completed on weekly and daily timeframe. 2. Price closing below 50 and 100 day EMA for 5 consecutive weeks. 3. Price opened below neckline today (20/08/2021). 4. Bearish divergence on RSI throughout the uptrend. Bullish divergence at beginning of downtrend. (divergence occurs when RSI contrasts with price moments, suggesting trend reversal) 5. A mini head and shoulder reversal has already occured in the current "Head" of the pattern. Similar pattern is repeating itself. 6. Given above observations, price is likely falling to 2056-1935 levels.This was a previous order block. In conclusion, Hero Motocorp Ltd is a fundamentally strong company. However a better time of entry would be around 2056-1935 levels. Or around 2431, if price only makes a 50% retracement from previous uninterrupted uptrend.
NSE:HEROMOTOCO
by quietlife