Here is an example:
Now, I am taking a closer look and looking at this short-term.
iExecRLC ( RLCBTC ) on the 4H Timeframe
- First, we can clearly see going higher as EMA10 is broken and EMA50 challenged.
- Strong is now active on both the and .
- The is now really strong reaching almost 60.
- The red dashed line where RLCBTC found support, is also 0.786 Fib. retracement support for the complete wave that took place after the early Sept. '19 low was hit. Increasing the odds that this is where the bounce will take place.
Here is the full chart on the daily timeframe:
Conditions for change
If the last low is broken at 0.00004948, the above signals become invalid and a new analysis is needed. Always make sure to have a plan before you trade with an in and out strategy.
Thanks a lot for your continued support.