This idea is dull. It is me waiting for one single candlestick, the Japanese style.
But heck, it works wonders.
Yes, RSI and other indicators at lower TF is bullish.
However, it is still too risky for me. I am not trying to catch the bottom here, I am trying to make profitable trades.
Main signal I am waiting for is how we close the day: if we close with a green hammer, it will be a strong signal for long.
Obviously, the body of the hammer will dictate how strong the reversal signal is.
If we close above $7.3K, I will be less risk adverse in opening new long positions.
But heck, it works wonders.
Yes, RSI and other indicators at lower TF is bullish.
However, it is still too risky for me. I am not trying to catch the bottom here, I am trying to make profitable trades.
Main signal I am waiting for is how we close the day: if we close with a green hammer, it will be a strong signal for long.
Obviously, the body of the hammer will dictate how strong the reversal signal is.
If we close above $7.3K, I will be less risk adverse in opening new long positions.
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