This idea is dull. It is me waiting for one single candlestick, the Japanese style. But heck, it works wonders.
Yes, RSI and other indicators at lower TF is bullish.
However, it is still too risky for me. I am not trying to catch the bottom here, I am trying to make profitable trades.
Main signal I am waiting for is how we close the day: if we close with a green hammer, it will be a strong signal for long.
Obviously, the body of the hammer will dictate how strong the reversal signal is. If we close above 7.3K, I will be less risk adverse in opening new long positions.
so what do you think now i am skeptical about both sides
gusccbb
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Hi, thanks for sharing. It is seen that in the last 4hs green sails, high and low levels are achieved higher, a smooth and slow ascending line that rises to 7k and bounces. I understand that it is premature to define a trend. I ask what indicator we could monitor to verify if the ascending route begins? Going 7.4k in the next few hours would be a good sign?
someone514
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@gusccbb, MACD/RSI on longer TF serves more importance. Yes, closing above 7.4K will be a very good sign for long. Watch out for a rising wedge forming as it could break downwards. I am standing on the side line.
gusccbb
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@AlexCh, Me too. Until I did not confirm I did not enter, but I saw your comments and it has logic that 7.4 would be a good indicator. Match EMA 100 for 30 min and EMA 50 for 60 min.
hart-mo
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@AlexCh, what do you mean by closing? when the chart closes or the market?