Price action just fell out of both of my custom bollinger bands. It's at a cross roads for the trend to continue upwards. It appears to have been in accumulation for quite some time and it just had a push down that may give the bulls the go ahead. And with Crypto , there's still time to analyze to see where you think is the best entrance. Mine is as shown 76.20. I should've waited just a little longer. but oh well. I believe this is a goof position.
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Here's the 5 Minute Chart, And Another reason I jumped in is because of my Double RSI Strategy on the 5 min chart. The Green Area was my buy area. It Dipped at the right time. It crossed both the 200 and 50 MA's on the 5M. The Difference between the to RSI's (one is 16 the other is 29) was 6 or more. It was almost 9. The 19 was oversold. On the 4 hour, the 50 MA is swooping in underneeth. which is going to push the price action up.
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Another look at the chart
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I added a third position after this drop. We got up to 15 pips and took some profits. and the we got another dip. for the buy
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I hope this Divergence and this large wick is going to be a good sign to get us out of the red.
(Not the same chart format because you can't see the candle's that well with the three Long Chart Tool Entries)
(Not the same chart format because you can't see the candle's that well with the three Long Chart Tool Entries)
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
