Is A 1.6% Upside Target Worth The Risk?
Without carefully crafted historically backtested strategies, the kinds of trades available on short-time frames within the current market structure are high risk.
Check this one out. 3 'white soldiers' candle formation on the 4 hour chart. Looks good. MACD pushing up. But look at the overhead resistance level. It's just 1.6% above current price. Would you risk leveraging long for such a small move? Or would you wait for stronger momentum on a higher time frame?
Check this one out. 3 'white soldiers' candle formation on the 4 hour chart. Looks good. MACD pushing up. But look at the overhead resistance level. It's just 1.6% above current price. Would you risk leveraging long for such a small move? Or would you wait for stronger momentum on a higher time frame?
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Clearly not this time, hence illustrating the problem of short time-frame trading within larger time-frame momentum swings.
Look for trendline support to be broken again and another deep slide incoming.