This is one way to look at it. You believe in whatever thing you want, but believe have a price: time and mind health.
In TA there is this theory called Dow theory. You might want to google it and especially the numerous cases when it verified in practice.
One image that v nicely exemplifies this theory is this:
alphatrends.net
I give one recent example: Gold...
Potential double bottom in BCH:
- Long position with PT @ 770 (measured distance between first bottom and trough)
- Watch-out for hard fork news (might be noise and trade might fail)
- RSI is in overbought, but still room on the weekly chart
- SL just bellow previous big candle middle (510-515) depending on your comfort zone
Reasons:
- Rising wedge
- MACD line just crossed SL
- RSI 49 & again very close to RSI support line
- RSI also shows a divergence for the past 3 highs
- Wedge line and 50EMA critical support points
16&17.08 will show if worth it
