new Low (a lower trough than the last) but the indicator does not, a bullish divergence occurs. OR, a peak HH above the overbought level, followed by an intervening trough that does not reach the oversold level, then a lower second peak. If price reverses direction when it reaches a moving average (or trend line) we say that price has respected that moving average (or trend line). Failure swings, in overbought or oversold territory, signal that a trend is weakening and likely to reverse.
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In an up-trend, if price makes a new High (a higher peak than the last) but the indicator fails to do so, that is a bearish divergence. Price whipsawing around a moving average signals that price is ranging. Many indicators tend to imitate the peaks and troughs on the price chart with a series of similar highs and lows. If price fluctuates around a moving average, frequently crossing above and below, this is referred to as whipsawing. A triple divergence only occurs where a divergence has given an incorrect signal. We do not spam. Compare our market views. This pattern of highs and lows is identical to a trend reversal on a price chart. This is significant as it confirms that price is trending. To complete the failure swing the indicator must then rise above the intervening peak.
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