DislikedWhat about the breaky in GJ? RSI is near overbought but we have a broken triangle in trend direction I think is a good one, what do you think? I think my big problem is to know where to enter, the right point, maybe some pips above a RN or just at the close of the candle that broke the BR or FK lines, we´ll see. Thanks for your help {image}Ignored
lets break it down. I wasn't around when the price broke through, however (and i quote star wars) 'the force in this one is strong' I was willing to enter just on the break ut of the line (about 5pips above). Now I know there's a chance of a pullback BUT the price has already pulled back 3 times (on 4hr) from this line 186.10, ALSO and a big ALSO is that the price had passed the RN 3 times before pulling back. RN are very important, don't let anyone tell you different. if you have ever dealt with a brokerage they don't say buy at 186.33 they say buy at 185 or 180 or 190...Round numbers.
RSI is creeping into overbought but with a trend the RSI could stay overbough for days. If RSI was high in it's 80's or 90's while crossing i'd think twice. RSI is best used in consolidating markets or in fakey situations.
Now if I was around I'd probably drop down to a lower TF (1hr or 30min) to see how price reacts...see below.