Ignore the noise and speculation, trade what you see: 4h candle above its 100 and 200 SMMA, with hidden bullish divergence indicated by the lower low on the RSI and the higher low on the chart. So based on this, I'm looking at a good re-entry point to add to my long position.
I know a lot of people are charting out the big drop, but that's the sort of wishful thinking that generates blown accounts. Markets don't care about artificially drawn price lines or pivot points. So KISS (Keep it Simple Stupid) and trade based on what's taking place NOW.
I know a lot of people are charting out the big drop, but that's the sort of wishful thinking that generates blown accounts. Markets don't care about artificially drawn price lines or pivot points. So KISS (Keep it Simple Stupid) and trade based on what's taking place NOW.