January offered a picture perfect example of how to use Cardwell's RSI reversals to determine price targets. A negative reversal provided us with a 140.29 target which was only a couple pips below January 20th low of 140.32, and was triggered nonetheless a week later.
Now, the reverse situation may be occuring with positive reversal stemming out of today's fall to 139.2 yielding a target of 141.41. If the current upward channel is respected, we can even attach a time target of January 26th.
Although RSI is also showing bearish divergence, bullish divergence in January tells us that we can still see one or two more legs higher before a reversal.
This scenario is alive so long as C is not broken on the RSI line.
Now, the reverse situation may be occuring with positive reversal stemming out of today's fall to 139.2 yielding a target of 141.41. If the current upward channel is respected, we can even attach a time target of January 26th.
Although RSI is also showing bearish divergence, bullish divergence in January tells us that we can still see one or two more legs higher before a reversal.
This scenario is alive so long as C is not broken on the RSI line.
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.
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.