DXY:near term target and another example of using RSI for target
The daily chart appears to likely have completed a triangle consolidation as I suspected on the previous post (see link below). On the weekly chart you see examples of bullish and bearish divergences in the RSI. On the daily chart we have 2 negative reversals (dashed lines) and the target each suggests which are basically the same. The "2" reversal is followed by a short bearish divergence (solid line). In my experience the two formation together increases the probability of downward price change to follow. We'll know soon. BUT remember probability is NOT certainty. There is no pattern or indicator that is always correct.
As always process your way and best to ya.
Also remember the RSI is based on the price close. So use the closing price for these calculations.
These ideas came from an excellent book: Technical Analysis for the Trading Professional by Constance Brown
As always process your way and best to ya.
Also remember the RSI is based on the price close. So use the closing price for these calculations.
These ideas came from an excellent book: Technical Analysis for the Trading Professional by Constance Brown
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.