The green line signifies the price level that price would have to get to in order for simple RSI-14 to be at 20. Historically, this is an excellent signal to go long.
Let's see how this resolves.
On a related note, I would be very comfortable with $8200-$8300 as a long entry at least on an initial test of the level.
Let's see how this resolves.
On a related note, I would be very comfortable with $8200-$8300 as a long entry at least on an initial test of the level.
Trade closed: target reached:
Looks like the $8200-$8300 was indeed an excellent long entry (bottomed out at $8204) and went on to hold that level for over 3 days, climbing almost 10% during that time (before then breaking to new lows).