ICICI Bank Divergence: Reversal or just a halt?
Higher TFs have alreadyy thrown a nice breakout to the ATH. Monthly RSI is overbought now. Looking at the price action, I don't see a big reversal of any sorts.
There is a nice 3 Bar Negative Classical Divergence (NCD) in the Daily. Also, it being at the ATHs and overbought levels make it more strong. The last candle was an upside rejection candle, again showing exhaution in momentum.
In the 75 min again, we see a nice wide NCD. Once the TL is broken and price makes a LL, one can look to enter short Intraday provided an opportunity arrives in the 15 min TF for a quick and small move.
There is a nice 3 Bar Negative Classical Divergence (NCD) in the Daily. Also, it being at the ATHs and overbought levels make it more strong. The last candle was an upside rejection candle, again showing exhaution in momentum.
In the 75 min again, we see a nice wide NCD. Once the TL is broken and price makes a LL, one can look to enter short Intraday provided an opportunity arrives in the 15 min TF for a quick and small move.
Nota
Missed this good setup
Dagangan ditutup: sasaran tercapai
Chartered Accountant | Trader | Trainer
| afzallokhandwala.com
| afzallokhandwala.com
Chartered Accountant | Trader | Trainer
| afzallokhandwala.com
| afzallokhandwala.com
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