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Will we have a short term pullback?
In this chart you will see that in the H4
https://www.tradingview.com/x/ayCjZalT/
We're entering a period of consolidation in the nearest resistance.
It's either we're going for a deep pullback since the Relative Strength Index is just way too extended and there's a divergence.
However, I am still expecting another high going to be formed as we are still in a bullish trend.
I have been trading
CVX since last week only and I must say it has been rewarding for today as it was one of the most volatile in the Binance BUSD Perpetual Futures. 🔥
The Trading Plan:
- Buy at the lows of the consolidation
- If there's strong selling pressure check for the start of the current trend and look for a potential demand zone
- Entry Tranche 1 if there are bounces or strong buying pressure seen in again
- Exit near the resistance
Thank you, CVX!
https://www.tradingview.com/x/ayCjZalT/
We're entering a period of consolidation in the nearest resistance.
It's either we're going for a deep pullback since the Relative Strength Index is just way too extended and there's a divergence.
However, I am still expecting another high going to be formed as we are still in a bullish trend.
I have been trading
CVX since last week only and I must say it has been rewarding for today as it was one of the most volatile in the Binance BUSD Perpetual Futures. 🔥The Trading Plan:
- Buy at the lows of the consolidation
- If there's strong selling pressure check for the start of the current trend and look for a potential demand zone
- Entry Tranche 1 if there are bounces or strong buying pressure seen in again
- Exit near the resistance
Thank you, CVX!
Nota
I have bought the lows of the consolidation and added my first and second tranche.Once previous high is broken, I will add my last tranche.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.