Technical analysis isn't about saying "this is exactly what's going to happen" . It's about analyzing the data we have in front of us and drawing possible cases. In my opinion it's better to prepare for both the bullish and bearish scenario. If you're always bullish or always bearish, you may miss opportunities in the market because you aren't prepared. TA is best when you wait for confirmation. If we break above resistance then the bias is bullish and vice versa. Trade with the market not against it. Some people are always calling for the moon and ignore the bearish scenario. Don't be one of those people. Prepare for both so you know what to do depending on price action. In this situation I am in favor of the bullish scenario. We will see how this plays out. Wait for confirmation before entering a trade. Great risk to reward in both scenarios.
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Currently being rejected by 200 ema. Testing resistance on RSI
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Retest previous RSI resistance?
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Up 4.5% so far. RSI resistance level
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Boom, do you guys see how the RSI was rejected by the resistance zone?
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BIG spike. If you took the call you should be up at least 8%
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Watch out for this resistance on the RSI
Trade closed manually:
Officially closing the trade. 4.73% profit. 16:25 (UTC) June 8th 2018