there's a good setup for trends, price in 1D has broken an important S/R line, as well, price is above 20SMA.
In 4h chart, price is in a bullish channel that is confluing with a trendline... The price really is losing momentum, RSI shows divergences, but many reversals tends to fail, as well, the price has good probabilitys to reach the last top again (where is placed my take profit).
My entry order is placed among 20SMA and the low BB20.
Bollinger bands, function really good as support and resistence ( or, oversold and overbought, whatever) in channels like this, as well, in rectangles.
In 4h chart, price is in a bullish channel that is confluing with a trendline... The price really is losing momentum, RSI shows divergences, but many reversals tends to fail, as well, the price has good probabilitys to reach the last top again (where is placed my take profit).
My entry order is placed among 20SMA and the low BB20.
Bollinger bands, function really good as support and resistence ( or, oversold and overbought, whatever) in channels like this, as well, in rectangles.