PROS:: 1. Price consolidates above ATH. Probably we will need little bit more time for a significant move up 2. Even if this particural trade will be a loosing trade i will get my gains back from a long trade i am still holding. So it's nice for protectin the capital. 3. 4H MFI is on a verge to break below the trend line, that's a powerfull signal 4. Phoenix indicator showing a bearish sentiment, i covered it in a previous publication
CONS::
1. It will be nice to see a few more confirmations of the support level for a breakout trade like this for more precise entry
OVERALL:: * 4H MFI is on a verge to break below the trend-line * 4H MFI signal * 1H OBV Delta is red * Nice short-term trade this to protect your long position
Comment
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The higher low occured and we didn't drop i expected. But we may be still in progress of 10-15% correction. I will update my re-entry on this trade if i see an opportunity