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Is the chart Useful


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KelvinHand

Well-Known Member
#6
Hi kalpataru,

There is no rsi divergence for now on the cnxit chart. divergence appeared in September ( indicated in your chart) is not valid now.

thanks.
In a uptrend:
- Most of the time Bearish Divergences will be seen, but failure
- There is a positive hidden divergence lead to price continuation
- The RSI will bound from 40 to 80 range

 
Last edited:

KelvinHand

Well-Known Member
#8
Kelvinhand,

Perfectly said. thanks.

kalpataru0803,

please go through below file posted by xray27 in other thread.

http://www.sponser.co.il/blogs/posti...bf826ae84d.pdf

thanks.
Because there is +positive reversal (based on Andrew Cardwell Method)
There is a Target projection

Assume ptA is 7000, ptB is 8000, ptC is 8500

pt A and pt B corresponding to close price to RSI +ve Reversal left and right
pt C is the highest close between pt A to B.

The price target is (B-A)+C = 9000 (aprox.)
 
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