Line of sight: a butterfly eaten by a shark?
Line of sight
A butterfly wants to fly. But wait..is it a Shark waiting to take a bite?
Going up to fast
The butterfly is going up (too) fast. Or is it?
Signals
RSI (7) is going too fast compared to how much it is retracing..
If it is heavily oversold at the first line of defence, this could be another trend following setup..
If it is heavily oversold at the second line of defence, with RSI divergence, this could be a nice Shark short with minimal risk.
Trade setup
Just telling a story..
A butterfly wants to fly. But wait..is it a Shark waiting to take a bite?
Going up to fast
The butterfly is going up (too) fast. Or is it?
Signals
RSI (7) is going too fast compared to how much it is retracing..
If it is heavily oversold at the first line of defence, this could be another trend following setup..
If it is heavily oversold at the second line of defence, with RSI divergence, this could be a nice Shark short with minimal risk.
Trade setup
Just telling a story..
