Technical analysis:
2618 strategy
- Double bottom formed
-.618 retracement
Note:
RSI formed high lows until recently which broke support, might be a sign of a bear market coming in
MACD crossing for a bearish market too
Evidently the indicators show bearish signals, but I'm trying out the 2618 strategy to see how it fares
Only enter at .618 retracement in order to get a better confirmation of a rebound.
Take profit 1 at previous structure high
Take profit 2 at previous-previous structure high
*For self-reference/educational purpose. NOT investment/trading advice
2618 strategy
- Double bottom formed
-.618 retracement
Note:
RSI formed high lows until recently which broke support, might be a sign of a bear market coming in
MACD crossing for a bearish market too
Evidently the indicators show bearish signals, but I'm trying out the 2618 strategy to see how it fares
Only enter at .618 retracement in order to get a better confirmation of a rebound.
Take profit 1 at previous structure high
Take profit 2 at previous-previous structure high
*For self-reference/educational purpose. NOT investment/trading advice