I'm long in the long-run, short in the short run. The RSI on the longer term chart shows we're a bit overbought, and history tells us this results in a ~2% correction. We're seeing divergances where we'd expect them to confirm that. A nice coincidence is that the 37.4 target for a 2% drop is also a good support line.
Wait for a confirmation of a bounce around 37.4 and buy.
Wait for a confirmation of a bounce around 37.4 and buy.
Trade closed manually:
This would be the time to get in based on the above. Turns out that in this case you would have been better off getting in immediately as it continued to rise for a bit. Did not hit my target where I expected as a result.
Comment:
Oh wow, it kept going through the trendline there and bounced off my target! Might want to wait for a confirmed continuation in case it keeps going down.