Description
⋅ Look at this "inverse" signal.
We are going to look at the positive on a negative.
KAVAUSDT Weekly:
8 weeks straight closing red.
After mid-May we had 3 weeks red followed by a bounce, 1 week green and then the eight consecutive red weeks.
This is good as now the bias turns bullish.
Notice the size of the last candle and also the long lower wick.
Now we focus on the daily timeframe and we can easily see that this strong bearishness is over.
The RSI went oversold and the last three days have been green. While this isn't much, it is still the best Kava has seen since June.
This is a full flush and now the potential is up.
Stop-loss = low risk.
High potential for reward.
Meaning, if it drops, you stop the trade at a small loss.
The drop is low probability but can still happen.
If it goes up, we have a winner and the upside potential is huge.
Buy low/red/near support.
Sell high/green/near resistance.
Plain and simple.
Namaste.