CCI Divergence for EURJPY
Jan.17, 2010 in
My Trading Ideas
The following is the four hour chart for EURJPY as of Jan. 17th around 2 AM EST. There is a CCI indicator I placed below the chart. If you observe the chart you can see that there is CCI divergence. The price has come down than the previous low but the CCI didn’t. This formed a divergence. Moreover the CCI has crossed above the oversold region which is -100 line. So I think this is a good opportunity to enter a long trade. What do you guys say?
EURJPY Four Hour Chart:
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January 18th, 2010 at 12:05 am
Observe the daily chart also. The CCI for daily chart is in oversold region(far below the -100 line) and trying to come towards the normal region which is -100 line. So this is good opportunity.