BTCUSDT possible pullback
BTCUSDT formed long inside bar and RSI is overbought Price also made large FVG that usually needs to be mitigated
This usually indicate a slow in trend momentum and possible reversal or pullback.
Pullback :
1- Wait for the current candle to close with wick and below the yellow 0.618 fib (DONE)
2-Breakdown of the orange line and RSI below 70 level.
3-Enter after the breakdown of the red line @ 49372.22 and RSI should cross below yellow MA
4- Must use tight stop loss.
OB mitigation :
1-Wait for RSI crossing up the yellow MA for up entry
2-Must use tight stoploss.
Invalid on chart.
I hope this will help someone .
Good LUck
BTCUSDT formed long inside bar and RSI is overbought Price also made large FVG that usually needs to be mitigated
This usually indicate a slow in trend momentum and possible reversal or pullback.
Pullback :
1- Wait for the current candle to close with wick and below the yellow 0.618 fib (DONE)
2-Breakdown of the orange line and RSI below 70 level.
3-Enter after the breakdown of the red line @ 49372.22 and RSI should cross below yellow MA
4- Must use tight stop loss.
OB mitigation :
1-Wait for RSI crossing up the yellow MA for up entry
2-Must use tight stoploss.
Invalid on chart.
I hope this will help someone .
Good LUck
Commento:
Probably a liquidity sweep
Trade chiuso manualmente:
Momentum is weak but BTCUSDT still needs a pullback as long as we did not break the high .
Good LUck
Good LUck