Markets are dynamic, so your analysis should also be dynamic ( change as new data comes in)
BNF now
see the MFI attempting upside breakout before price. So now if price breaks out , that will be a confirmation
I am ready now for an upside spike
Cross of 34720 should lead to a sharp upmove
( see the charts shared, you will understand this level)
anytime now
MFI gave a breakout, but no confirmation from price. 34720 was simply the last swing high. Whatever the indicators say, this is why price confirmation is necessary
Now MFI values too low to short ( despite trendline breakdown). MFI is now oversold.
So, no trade. we wait
The code being used ( if you are new to my timeline)
quantgym.biz/post/mfi-diver…
This is where TA is art. Normally, breakdown in both, so a sell. But MFI values were oversold, selling would have lead to trapped or getting stopped out
expectations..
this is what I am seeing
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