Smooth Love Potion (SLP) - health report on the 4H
A few days ago I posted about an SLP swing trade, yesterday we saw SLP make a breakout. Time for a health report on the 4H.
Positives:
OBV is above key level and trending positively
OBV Bullish divergence in the last 24hrs
RSI hidden Bullish divergence signaling a continuation of up
RSI on trend and resetting above 50
Price is retesting and resetting on last swing high before breakout on the 4H, very healthy sign if it holds at the close of this candle
Might still be an opportunity to enter this trade on successful retest. Look for buy setups on lower time frames
Obviously want to get in as close to that swing high level as possible, and set a tight stop loss. BTC is at resistance, and market could take a down turn.
Hard to tell how SLP will react (particularly with SHIB stealing some attention)
Looking long, feeling good so far
Positives:
OBV is above key level and trending positively
OBV Bullish divergence in the last 24hrs
RSI hidden Bullish divergence signaling a continuation of up
RSI on trend and resetting above 50
Price is retesting and resetting on last swing high before breakout on the 4H, very healthy sign if it holds at the close of this candle
Might still be an opportunity to enter this trade on successful retest. Look for buy setups on lower time frames
Obviously want to get in as close to that swing high level as possible, and set a tight stop loss. BTC is at resistance, and market could take a down turn.
Hard to tell how SLP will react (particularly with SHIB stealing some attention)
Looking long, feeling good so far
