SHORT on RNDR to close a 2 month cycle
Updated
We are closing a approximately 60 days cycles. I would expect the close to bring the RSI14 in oversold territory on a 4h TF.
To take position on this little cycle that will probably close the major one we use a 15min TF and the RSI14 to spot the right moment.
SHORT
EASY: Open on 15m over bought area. Stay safe with a wide SL.
DIFFICULT: if you feel to face a challenge try to spot weakness on the price action and short at the right moment. I usually take adventage of divergences on RSI14, (15min TF). When RSI14 can't draw HH and can't hold the 50 level it might be the right moment to short.
TARGETS:
EASY: Something in the key level area. We've got a convergence with the Fib 0.618 at 1.09$
DIFFICULT: If you can follow your trade one step at a time, stay in till you spot strongness in the price action
To take position on this little cycle that will probably close the major one we use a 15min TF and the RSI14 to spot the right moment.
SHORT
EASY: Open on 15m over bought area. Stay safe with a wide SL.
DIFFICULT: if you feel to face a challenge try to spot weakness on the price action and short at the right moment. I usually take adventage of divergences on RSI14, (15min TF). When RSI14 can't draw HH and can't hold the 50 level it might be the right moment to short.
TARGETS:
EASY: Something in the key level area. We've got a convergence with the Fib 0.618 at 1.09$
DIFFICULT: If you can follow your trade one step at a time, stay in till you spot strongness in the price action
Note
Prolly a 30min TF would be more appropriateOrder cancelled
I wouldn't short RNDR right now. It'll take more time to close the dominant cycle. It will be necessary to draw a new bigg divergence on a big TF like 12h or 1d. I'll post a new idea if I will spot a new opportunity on this token.
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