BEARISH USDJPY Daily: RSI overbought with hidden divergence;
Nov 16 2015: BEARISH USDJPY Daily:RSI overbought with hidden divergence; Bearish BAT
(Analysis Based on Daily chart)
Observations
1. Long term bull channel
2. Short term bear channel
3. Bullish breakout from consolidation
4. Price currently at resistance
5. RSI overbought at swing high
6. RSI bearish hidden divergence
7. Bearish BAT pattern completing at channel high
NOTE: Wait for price action to confirm the importance of these levels. The long term trend is bullish. The RSI is overbought and diverging. Price is also near the top of the bearish channel which also marks the completion of a bearish BAT pattern.
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(Analysis Based on Daily chart)
Observations
1. Long term bull channel
2. Short term bear channel
3. Bullish breakout from consolidation
4. Price currently at resistance
5. RSI overbought at swing high
6. RSI bearish hidden divergence
7. Bearish BAT pattern completing at channel high
NOTE: Wait for price action to confirm the importance of these levels. The long term trend is bullish. The RSI is overbought and diverging. Price is also near the top of the bearish channel which also marks the completion of a bearish BAT pattern.
If you find this information useful. Please hit the LIKE button.
I may trade all, some or none of the ideas posted. All of my contributions are for educational purposes only. 'TRADE What You SEE'' and all the best!
