NZDCHF: Topped out, short.
מעודכן
NZDCHF getting ready for a short.
Severely overbought on the 1D, 12h has a bear divergence, 6h 4h 3h all have bear divergences, just waiting for lower timeframes to print bear divergences before setting up a short.
This should be close to the absolute top, 0 drawdown.
If it really wants to get over extended it can go to the next node near 0.786 (but highly doubtful).
Reasons for my position:
- It's sitting on the second-highest volume node
- Momentum has slowed, Bog printed bear divergence
- Fisher going to show a bear div, Z-Score saying that it's over two std devs above mean, at one point reaching close 3 std devs
- SMI and SMIO (illustrated by the slope) losing momentum and about to cross over bearish.
Severely overbought on the 1D, 12h has a bear divergence, 6h 4h 3h all have bear divergences, just waiting for lower timeframes to print bear divergences before setting up a short.
This should be close to the absolute top, 0 drawdown.
If it really wants to get over extended it can go to the next node near 0.786 (but highly doubtful).
Reasons for my position:
- It's sitting on the second-highest volume node
- Momentum has slowed, Bog printed bear divergence
- Fisher going to show a bear div, Z-Score saying that it's over two std devs above mean, at one point reaching close 3 std devs
- SMI and SMIO (illustrated by the slope) losing momentum and about to cross over bearish.
הערה
3H moving averages telling me that the uptrend is over.
הערה
At this point, this could potentially be a temporary bottom. I would watch these levels to see if there are more legs down.
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