Good lord some of you guys use absolutely ridiculous indicators to try and figure out the market.
Here's a secret - most traders use simple charting techniques.
Keep it simple.
So here's what I'm seeing:
Stoch RSI has bottomed out on the 4hr. Daily RSI has just today hit bullish territory. We are currently bouncing between two possible channels:
Channel 1 (Purple) - Ascending channel
Channel 2 (Orange) - Support/resistance channel.
If we break either one of these channels then it's all systems go in either direction, but given the RSI and MACD turning green on the daily, I'd say we're looking pretty bullish right now.
That's it. Cheers.
Here's a secret - most traders use simple charting techniques.
Keep it simple.
So here's what I'm seeing:
Stoch RSI has bottomed out on the 4hr. Daily RSI has just today hit bullish territory. We are currently bouncing between two possible channels:
Channel 1 (Purple) - Ascending channel
Channel 2 (Orange) - Support/resistance channel.
If we break either one of these channels then it's all systems go in either direction, but given the RSI and MACD turning green on the daily, I'd say we're looking pretty bullish right now.
That's it. Cheers.