The price is at the lowest area since its listing on OMXC. The price have been down with 90 %.
RSI combined with price shows (look at the red arrows at RSI) that while price is making Lower lows, the RSI is makin Lower highs, which shows that strength of sellers is weakned. This is typical sign of bottom is about to be made.
4H technical shows a bearish 20-50 cross accured which will push the price a bit lower than now. That is why trade is active at price 6.5.
Stoploss is set at 7 % below the lowest price, and also a bit below a triangle, in case of stop hunting.
1st profit taking zone is 0.5 fib zone, if this upper movement is correction.
There is a huge gap, which I think will be closed, sooner or later, which is why the 3rd profit taking zone is where the gap is closed.
A trade with good R:R.
RSI combined with price shows (look at the red arrows at RSI) that while price is making Lower lows, the RSI is makin Lower highs, which shows that strength of sellers is weakned. This is typical sign of bottom is about to be made.
4H technical shows a bearish 20-50 cross accured which will push the price a bit lower than now. That is why trade is active at price 6.5.
Stoploss is set at 7 % below the lowest price, and also a bit below a triangle, in case of stop hunting.
1st profit taking zone is 0.5 fib zone, if this upper movement is correction.
There is a huge gap, which I think will be closed, sooner or later, which is why the 3rd profit taking zone is where the gap is closed.
A trade with good R:R.
Transaction en cours:
After 3 months trade is now active