Tornado_Trading

MSR bullish divergence and false downside breakout GRTUSDT

Long
BINANCE:GRTUSDT   GRT / TetherUS

3Day chart:
Bottom forming, Last candle had a large downwick, now MACD-H is ticking up. MACD-H and EFI are diverging with price. Price moves around -1 ATR, but it seems support has been found at these levels.


Daily:
Missing Right shoulder bullish divergence after bullish divergence, also a bullish divergence on ATR lines, MACD-Histogramd and MACD lines, even on Stochastic RSI. Price level currently in the value zone. I have placed buy orders at below 0.6, and will buy here only below 0.6 in pullbacks on lower timeframes

I expect price to rise up to +1 ATR because of the strong indicator combination as described.

After this target I will exit with 2/3 and reevaluate situation, to see if GRTUSDT completely reverses.


4H:
EMA's crossing, impulse green, uptrend started. Stochastic RSI overbought, but trend is up. I try to add in Pullbacks to the Value zone.


R/R: 1:2

entry: 0.58/0.59
exit: 0.795

SL: 0.494

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.