Price has broken the upper line of the regression channel making it look severely overbought.
It can be more overbought, of course, but since price has run into this level with a steep impulse, long positions may be dumped because of the nice profit.
This may lead to a correction. Change of trend on lower timeframes might give a hint to go short.
For long trades, I'd wait until a correction builds up and then price breaks that corrective trend.
Trade safe! ⚪️⚫️
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ANYWAY, a lot of Qs about the direction of the price. But it doesn't matter.
WE JUST REACT!
Remember that trading is a business.
SIZE your TRADES according to your risk aversion!
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It can be more overbought, of course, but since price has run into this level with a steep impulse, long positions may be dumped because of the nice profit.
This may lead to a correction. Change of trend on lower timeframes might give a hint to go short.
For long trades, I'd wait until a correction builds up and then price breaks that corrective trend.
Trade safe! ⚪️⚫️
--------------------------------------------------------------------------------
ANYWAY, a lot of Qs about the direction of the price. But it doesn't matter.
WE JUST REACT!
Remember that trading is a business.
SIZE your TRADES according to your risk aversion!
----------------------------------------------------------
Comment:
This is what I mean.
Trade active:
Short trigger has arrived.
