FIL inching towards that swing!
Update to my September 24th FIL analysis, switched charts from FTX futures to Binance Futures.
I've been waiting on 2 conditions to open a LONG position in FIL on a Daily Chart:
#1 RSI reaching 30 or lower and then breaking the trendline
#2 MACD Cross Up
RSI is almost at 30, MACD still has ways to go, strongly trending down at the moment.
Price is reaching the HTF Trend/Support line from December 29th 2020, and within (more or less) the Channel I've been tracking since September 16th.
My plan is to start Laddering in a LONG position around $48-$45, ONLY if I see MACD heading towards a Cross Up, and RSI breaking above trendline as a bonus. Before opening a position, I'll spend some time watching Level 2.
If I miss the bottom, I do not plan to make DCA more than 4 times, if I REALLY miss the bottom, I might have to break that rule.
People are waiting for over enthusiastic LONGs to open positions, so be careful with Bull Traps.
Everyone is welcome to share their EWT count, comment or disagree!
FILUSDT FILUSDTPERP FILPERP FILUSDT HUOBI:FILPERP FILUSDT
I've been waiting on 2 conditions to open a LONG position in FIL on a Daily Chart:
#1 RSI reaching 30 or lower and then breaking the trendline
#2 MACD Cross Up
RSI is almost at 30, MACD still has ways to go, strongly trending down at the moment.
Price is reaching the HTF Trend/Support line from December 29th 2020, and within (more or less) the Channel I've been tracking since September 16th.
My plan is to start Laddering in a LONG position around $48-$45, ONLY if I see MACD heading towards a Cross Up, and RSI breaking above trendline as a bonus. Before opening a position, I'll spend some time watching Level 2.
If I miss the bottom, I do not plan to make DCA more than 4 times, if I REALLY miss the bottom, I might have to break that rule.
People are waiting for over enthusiastic LONGs to open positions, so be careful with Bull Traps.
Everyone is welcome to share their EWT count, comment or disagree!
FILUSDT FILUSDTPERP FILPERP FILUSDT HUOBI:FILPERP FILUSDT
Related publications
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.