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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!
Uwaga
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.
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.