This is a news drive market. The last 3 moves are based off news and nothing happens in the between time.
This is a dump in response to Japan telling exchanges they need new game plans against money laundering.
I am personally not looking to play an oversold bounce... they are not nearly as profitable as they used to be.
Give me 4 hour RSI at 20 with a $6k break and I will start to consider it.
Bulls are trying to hold $6,135 to form a higher low on the daily chart after 4 rejections from EMA 12 resistance on the daily.
Note RSI levels can get more extreme in reaction to news.
Bears are very comfortable with an entry on the loss of 4 hour higher lows, with stops at break even now worst case scenario.
Until the daily trend changes, I will be trading other opportunities in other markets.
This is a dump in response to Japan telling exchanges they need new game plans against money laundering.
I am personally not looking to play an oversold bounce... they are not nearly as profitable as they used to be.
Give me 4 hour RSI at 20 with a $6k break and I will start to consider it.
Bulls are trying to hold $6,135 to form a higher low on the daily chart after 4 rejections from EMA 12 resistance on the daily.
Note RSI levels can get more extreme in reaction to news.
Bears are very comfortable with an entry on the loss of 4 hour higher lows, with stops at break even now worst case scenario.
Until the daily trend changes, I will be trading other opportunities in other markets.
Checkout our full trading resources online www.chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social