$Pfizer (PFE.US)$ The weekly divergence pattern is starting ...
$Pfizer (PFE.US)$ The weekly divergence pattern is starting to show, but there is still a possibility of deceptive lines. After all, it requires at least a daily trend to form a bottom trend! By examining the daily structure recursively, in order to create the weekly divergence pattern, it is necessary to follow a trend where it reaches 31 and then retraces back to 28.9. However, it is evident that there is a divergence between 28.3 and 28.9 at the 30-minute level, indicating a weakening buy/sell force. Therefore, the probability of directly retracing back to 28.9 near 31 on a daily basis is not high. Instead, it is necessary to retrace directly from the current 28.3 to 28.9 back to 27.3 to 26.7 to create a perfect trend before choosing an upward, downward, or sideways trend! If moving downwards, sell a portion from 28.3 to 28.6, set orders to buy back at 27.3 to 26.7, maintaining the same anticipated trading strategy! If the decline is not over, it will continue from the weak rebound at 25.7 up to 27.15 as mentioned earlier, then further decline to establish the lower limit at 24.9; and in the current scenario, if on the 30-minute level, there is a substantial volume to construct the 31-28.9 daily trend again, one should make a firm move near 31, and a retracement to 28.9 will be a more probable trend realization! This could potentially be the establishment of a new central trend, with a weekly bottom divergence and the emergence of large bullish candlesticks! Thus, the trading strategy should focus on repurchasing chips that surged from 28.3 to 28.6 within the new central range! The above is purely a personal trading journal and does not constitute investment advice or opinions! Trading decisions are at your own discretion! Profit and loss are your own responsibility!
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