(D) Bearish RSI Divergence // 161% ext. plus 68% retracement / ®

FX:USOIL   CFDs di Minyak Mentah (WTI)

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Komen: Breaking Structure, first take profit zone reached, holding...
Not all negative / positive divergence will lead to a reversal.... most of them are basically retracement... If you like to increase your odds, trying finding RSI reversals at significant support / resistance area.
There is nothing bearish with having a lower low in the RSI - If you take a look at RSI from a mathematical standpoint, then it's hard for the RSI to move beyond the 70's-80's. Therefore a lower low in the RSI is just a pause in the trend. Therefore it's called a Negative and Positive divergence and not bearish/bullish. It's a general misunderstanding in the public and should not be treated as a sell signal :) You can take a look at the works of Cardwell and Baeyens and their years of studying the RSI.

"The negative divergence does not lead to a trend reversal to the downside. Quite the opposite happens (...) It is just on way for the RSI to escape its mathematical constraints" - Walter Baeyens (RSI. Logic Signals & Time Frame Correlation)
+1 Balas
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