This is pretty much one of the best setups one could ask for: A bullish divergence on the daily chart. It's pretty straight forward as price should not drop below the lower low being made on a higher RSI print. We have seen this many time with coins like TRB, where I predicted the violent short squeeze few weeks ago using this method.
There is a lot of upside potential for WLD given it's down almost 90%, so worth a shot IMO. It could run into the yearly open over the next few weeks, maybe higher, but I don't know at this point.
Still early to get in, first step would be a break of 1.80$ and hold from there, tight setup would be a stop just below 1.5$. If you want to play it safe place your stop below 1.4$ and adjust your risk management accordingly.
Stay safe!
There is a lot of upside potential for WLD given it's down almost 90%, so worth a shot IMO. It could run into the yearly open over the next few weeks, maybe higher, but I don't know at this point.
Still early to get in, first step would be a break of 1.80$ and hold from there, tight setup would be a stop just below 1.5$. If you want to play it safe place your stop below 1.4$ and adjust your risk management accordingly.
Stay safe!
Note
Starting to look pretty good :) These setups have a really simple invalidation: It should not drop below the second low, which it didn't. But we saw a higher low few days ago but think we will see a big push coming days, preferably above 2$.
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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.