Bollinger bands are horizontal: volatility is stable but we can expect a move up or down.
RSI is going in neutral zone, but I would expect end of the "buyers time" which lasts since March 23rd.
Also, I would go for short due to detection of a rising wedge pattern.
I would open a short:
Entry price: $6450
Stop loss: $6578
Final take profit: $5129 (which is 61,8% of fibo)
Just in case I would open a long too:
Entry price: $6877
Final take profit: $7437 (which is top of rising wedge pattern)
Trade active
First Take Profit taken: target $6250 (taking back 25% of capital)New Stop Loss for hedging position: $6501
(if price reaches $6501, we sell everything and don't lose any capital invested in this trade)
Note
Next Take Profit target: $6000Note
Second Take Profit taken: target $6000 (taking back 25% of capital)New Stop Loss set on first Take Profit target: $6250
Next Take Profit target: $5700
Trade closed: stop reached
New Stop Loss reached $6250Note
Based on Binance margin leverage (x3)Total performance: +12.8%
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.