As can be seen with the Dual TF strategy, there is a potential for a 9% move in DEGEN for the following reasons:
1. Long term (5HR) and short term (1HR) charts are showing that DEGEN is overextended to the downside (yellow dots using custom Data Distribution indicator), which means that there is a potential for the price to reverse back up. The fact that there is confluence between the two charts is a good sign.
2. Custom indicator Zero-Lag USI is showing that the background has changed from red to black, meaning that there is a potential change in momentum here and that the price can potentially reverse back up.
3. Long-term chart is showing a reversal candle which is another sign that there is a potential reversal here.
1. Long term (5HR) and short term (1HR) charts are showing that DEGEN is overextended to the downside (yellow dots using custom Data Distribution indicator), which means that there is a potential for the price to reverse back up. The fact that there is confluence between the two charts is a good sign.
2. Custom indicator Zero-Lag USI is showing that the background has changed from red to black, meaning that there is a potential change in momentum here and that the price can potentially reverse back up.
3. Long-term chart is showing a reversal candle which is another sign that there is a potential reversal here.
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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.