trading divergences by themselves but they are a good starting point. Indicators to use for Divergence Trading. Buying on the break of the previous minor rally with stops near or below the second low of price offers a good risk/reward trade, targeting the previous high that was formed. We wait for these appear just before the EMA crossover or only after the first EMA crossover. Take a look at the two types of bullish divergences illustrated below. Charles Dow and mentioned in his Dow Tenets. Like the previous example, we had a clear up trend, without any significant pullback.
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Even though a trend could look healthy at first glance (higher highs and higher lows it might be losing momentum at the same time when we look deeper at the candles and the momentum. Lower High, sell, bullish Divergence, lower Low, higher Low. However, the first one completely failed and the second one resulted in a massive winner. It just means that the trend is progressing unchanged. Basically, a divergence exists when your indicator does not agree with price action. RSI crosses below 50, following a hidden divergence and trend confirmation forex machine learning data analysis tools from the Stochastic and the EMAs.
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