This buy setup is very clear and simple. In particular:
- There’s a divergence between the price, which is moving down, and the RSI Exhaustion, which is moving up
- The RSI Exhaustion is bearish exhausted (colored red), which means that the price doesn’t have too much room to move any lower
- We have a confirmed bottom
Moreover, what makes this an even better high probability trade, is the fact that all those three conditions are verified just above a major support level, displayed by the Levels and Zones indicator.
The major support level should now create a significant upward pressure, which will play in our favor.