Currently completing a retracement of ~50% from its previous high demonstrated by Fib retracement.
Oncoming MACD intersection indicating a bearish to bullish reversal in buying momentum
Will enter ideally around $0.600, stop loss $0.476 (Entry - (ATR*2)) after MACD and OBV confirms bearish to bullish trend reversal with an ideal exit around $1.25+
Comentarios
⋅
Cautiously optimistic.
Main concerns are the magnitude of the previous highs retracement, ~75% down compared to the previous low at the start of November. Past the ideal range of 33% - 66%
OBV is still trending low just above October's high.
Will need to see noticeable evidence, OBV significantly up, before making an entry.
Comentarios
⋅
Correction to original comment, 75% retracement not 50%.