Hello fellow traders ! This is my take on the Binance coin BTC pairing.
As you can see price has come down to market structure. We do not want to break the level we are currently at hence the stop loss. If this level breaks, this trade is invalidated. Given the structure, the oversold conditions of the RSI, as well as the Stochastic RSI crossing up above the 20 level, there is not very much downside risk.
Time will tell ! Good luck !
As you can see price has come down to market structure. We do not want to break the level we are currently at hence the stop loss. If this level breaks, this trade is invalidated. Given the structure, the oversold conditions of the RSI, as well as the Stochastic RSI crossing up above the 20 level, there is not very much downside risk.
Time will tell ! Good luck !
Comment:
so far on track
Comment:
so far on track