Price bounced with a one-day candle of 70% for wave (4), immediately being rejected on daily bearish divergence.
Chasing candles higher is what’s on the cards of naive investors now. Greed and FOMO immediately took over socials with much gloating, and price humbled them. This is a recipe for lower. Price has lost the High Volume Node, pivot and is well below the 200 EMA.
📈 Daily RSI went too high, too fast, and now has bearish divergence in a bear market, a strong signal.
👉 The next downside target is $0.13
Safe trading
Chasing candles higher is what’s on the cards of naive investors now. Greed and FOMO immediately took over socials with much gloating, and price humbled them. This is a recipe for lower. Price has lost the High Volume Node, pivot and is well below the 200 EMA.
📈 Daily RSI went too high, too fast, and now has bearish divergence in a bear market, a strong signal.
👉 The next downside target is $0.13
Safe trading
PhD Cand: Investing & Sentiment , MSc Financial Econ
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
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.
PhD Cand: Investing & Sentiment , MSc Financial Econ
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
Trader 8 years, Investor 15 years
The Sentiment Investor - Market Psychology: thesentimentinvestor.substack.com
Trade Planning, Strategies & Signals: Earn & Learn: tradesignals.substack.com
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.