Link: similar set up to previous dump/rally (ward method)
Updated
Link looks set up to dump and have another respectable rally soon after
Note
The white energy in the 1 day looks to be ready to cross above the 50% level with the green line getting ready to make contact in the 1 day. As well as the 12h already doing both. Though notice in the magenta circles that prior to the previous dump to our recent local bottom there was a very similar set up.
12h white energy just poked above 50%, white energy and green rsi looked ready to come up in the 1d.
We have to remember the 2day energy JUST crossed below 50 indicating continuation of downward pressure. This makes it seem likely we dont pump here and instead the 2day drags the green line and energy back down with it just like it did to the right of the magenta circle in the 24 hour time frame/12 hour time frame.
I will look to provide an update after we get this daily candle close.
Note
Closed this trade with a small 1% loss.Looking in the shorter time frames it looks like there is a chance for a sustained reversal upwards so I'm going to sit on the sideline to see how it plays out
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