RSG on the hourly time frame, since the march 2020 fall has shown a recovery, followed by consolidation. This consolidation has come close to the previous low - approx. 90%
As long as a lower-low is not breached, this could be considered a great place to enter a long position, aiming for targets 1,2 & 3.
If a lower low is made (as indicated on chart), chart is considered void.
We can see a long term channel which has developed since July 2020. Pricing has ranged within this channel up until November 2020, where it is now obvious the rate of low-lows is decreasing, indicating building strength.
This particular pricing behaviour is coinciding with an RSI that is setting higher-highs. RSI has remained within an ascending channel since earl august.
There is potential to catch an impending bullish move, providing you adhere to a tight stop-loss.
Potential ROI could range from 40% up to 220%
If stop-loss triggered, expected loss would range between 3-10%
As long as a lower-low is not breached, this could be considered a great place to enter a long position, aiming for targets 1,2 & 3.
If a lower low is made (as indicated on chart), chart is considered void.
We can see a long term channel which has developed since July 2020. Pricing has ranged within this channel up until November 2020, where it is now obvious the rate of low-lows is decreasing, indicating building strength.
This particular pricing behaviour is coinciding with an RSI that is setting higher-highs. RSI has remained within an ascending channel since earl august.
There is potential to catch an impending bullish move, providing you adhere to a tight stop-loss.
Potential ROI could range from 40% up to 220%
If stop-loss triggered, expected loss would range between 3-10%