The indicator has traded the 4HR nicely, getting in at the blue lines and exiting at the red. We were looking at a new long setup after getting out in our past XRP post, but that setup failed us on this candle. It looks like it will turn into short setup on the next candle or the candle after.. but we have to wait for the indicator to signal us!
At the moment I am neutral until the indicator gives me the short setup. Then wait for the breakout level to be hit to enter short.
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At the moment I am neutral until the indicator gives me the short setup. Then wait for the breakout level to be hit to enter short.
Please like and subscribe if you enjoy our work!
If you want to try our indicator out, follow us and drop a comment and we’ll get you set up.
Stay calm, and happy trading!
Comment:
Daily is still on a long setup, so be aware of both possibilities! if there is a short setup on the 4HR, we can take it. If that doesn't happen and price moves back up to the daily long setup breakout level and breaks that level, we can go long. It can be that simple.. And to be honest, I really don;t care which of the two happens, I'm ready to profit from both. And if price just ranges, well, I'm not in any trades, so that's perfectly fine too. Just wait for the next setup and move on to other assets!
Comment:
Short Setup signal, wait for breakout to trigger short.
We still have a daily long setup, but price is rather far from that trend breakout level. Price may range for a while and break down, it may range for a while and move towards the daily long trend breakout level, or may break down rather fast.
The chart looks like breaking down is more likely, but anything can happen, and that is important to keep in mind. In any case, we will be in the trade: short if the 4HR chart breaks down, or long if we manage to move up again and break the daily trend setup level.
We still have a daily long setup, but price is rather far from that trend breakout level. Price may range for a while and break down, it may range for a while and move towards the daily long trend breakout level, or may break down rather fast.
The chart looks like breaking down is more likely, but anything can happen, and that is important to keep in mind. In any case, we will be in the trade: short if the 4HR chart breaks down, or long if we manage to move up again and break the daily trend setup level.
