Description
⋅ With an RSI above 70, (and has been for a few hours), the MACD is about to cross all indicating a possible correction soon.
I am aiming for around 3900 as I suspect 4000 will be a psychological barrier.
Trade active
⋅ MACD has crossed
RSI is down
Volume is down(ish)
Comment
⋅ The latest drop might not be good for the lower target.
Keep an eye on the MACD as the RSI/Volume is already showing signs of recovery.
If you are wanting to buy back in, do not be too greedy.
Trade closed manually
⋅ We never reached 4000, but it is best to close it now as we are getting very near the lower points of the RSI and the MACD is also closing.
Not as much profit, but still a nice 5% return.