In this chart you will see that in the H4
We're entering a period of consolidation in the nearest resistance.
It's either we're going for a deep pullback since the Relative Strength Index is just way too extended and there's a divergence.
However, I am still expecting another high going to be formed as we are still in a bullish trend.
I have been trading $CVX since last week only and I must say it has been rewarding for today as it was one of the most volatile in the Binance BUSD Perpetual Futures. 🔥
The Trading Plan:
- Buy at the lows of the consolidation
- If there's strong selling pressure check for the start of the current trend and look for a potential demand zone
- Entry Tranche 1 if there are bounces or strong buying pressure seen in again
- Exit near the resistance
Thank you, CVX!
We're entering a period of consolidation in the nearest resistance.
It's either we're going for a deep pullback since the Relative Strength Index is just way too extended and there's a divergence.
However, I am still expecting another high going to be formed as we are still in a bullish trend.
I have been trading $CVX since last week only and I must say it has been rewarding for today as it was one of the most volatile in the Binance BUSD Perpetual Futures. 🔥
The Trading Plan:
- Buy at the lows of the consolidation
- If there's strong selling pressure check for the start of the current trend and look for a potential demand zone
- Entry Tranche 1 if there are bounces or strong buying pressure seen in again
- Exit near the resistance
Thank you, CVX!
Once previous high is broken, I will add my last tranche.