Previous rises in price have done the same so as long a volume continues so will the price rise until its the buyers are blocked by resistance in RED. Once resistance is hit there will be a retreat. The RSI will rise as illustrated and when it hits 70-80 + or the price is in the red circle region sell, then enter in the green circle region for the rebound and sell in the red circle region.
Volume is also 3x as high which will reflect in the amount that this rises.
This is my opinion only and not advice as it is primarily for my own education, records and for the communities thoughts and opinions. There is as much of a chance of me being wrong as there is right and I am a novice trader :).
Thanks and feel free to like if you want, also I would welcome counter arguments too.
Volume is also 3x as high which will reflect in the amount that this rises.
This is my opinion only and not advice as it is primarily for my own education, records and for the communities thoughts and opinions. There is as much of a chance of me being wrong as there is right and I am a novice trader :).
Thanks and feel free to like if you want, also I would welcome counter arguments too.
Trade active:
Entered this trade with a trailing stop @ 0.32631.
Comment:
Trailing stop executed here and looks like it has dropped considerably but I expect a rebound.
Trade closed: stop reached:
Closed at 0.34
Trade active:
Re-entered at 0.31319
Trade closed: stop reached