$EGLD It is very important to open a position only when conf

$EGLD It is very important to open a position only when confirmation is evident.I wrote, 'Entry: Wait for confirmation (candle closing below pinbar low),' and as shown, I also uploaded a chart image on the 1D timeframe, meaning the confirmation is also based on the 1D timeframe.
If a short position was taken immediately after my post, it would currently be at a loss of about 4% ($33.80 to $35.20) and might have hit the stop loss at EMA99, which is $35.388.
As of now, if the closing price is as I mentioned, $35.40, and does not close below $33.5, then the movement will likely continue upward, targeting $39.
**This is not financial advice; always do your own research (DYOR). I am merely sharing my perspective and this note is intended for my own journal.** 

myisLet

Мечи

$EGLD No Bullish candle 1d, I have prepared my fund for DCA, at least up to a maximum decline to $21.

My POV
1. EMA Crossover : EMA7 (yellow) has crossed below the EMA99 (purple), indicating a death cross and potential bearish trend.

2. Pinbar Candlestick : A candle with a long upper wick near the crossing area indicates price rejection from higher levels, signaling strong selling pressure.

3. Confirmation: The candle following the pinbar supports downward price movement, confirming bearish trend continuation.

4. Additional Indicators:
- RSI : (32) approaches oversold territory but still supports selling pressure.
- Increased trading volume validates the signal.

Trading Strategy
1. Entry : Wait for confirmation (candle closing below pinbar low) before opening a sell position.

2. Stop Loss : Place above pinbar or EMA99 to minimize risk.

3. Take Profit : Set target near support levels $29.xx

This chart indicates a strong bearish signal, primarily due to the EMA death cross and price rejection through a pinbar. However, ensure good risk management as the RSI is nearing the oversold zone.

Additional note : For an upward move, the condition is to hold above $35.4 on the daily timeframe or a close not below $33.5

Отказ от отговорност: Включва мнения на трети страни. Това не е финансов съвет. Може да включва спонсорирано съдържание. Вижте Правилата и условията.

EGLD

32,56

-1.27%

Отговори 1

$EGLD It is very important to open a position only when confirmation is evident.

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