Trading 5m and 30m charts
I cannot post a 5min chart here, but I opened a new trade, weekly 32 puts, based on 5 and 30 minute timeframes. 30m Stochastic is below RSI after a sharp drop from over 80 to under 20. If 5min RSI stays below 50 and there is more selling (20sma in strong downtrend) then 30m RSI will also return below 50 (red arrow). Otherwise buyers will cause a bounce off 30min 20-day SMA (green arrow)
See the indicators yourself and watch how price action plays out with these two indicators.
See the indicators yourself and watch how price action plays out with these two indicators.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.