Yesterday I gave you this analysis which left me a profit of +300% in one day. I'm leaving the analysis for you to assimilate and improve your trading. Here are the analyses and photos of the chart with the analysis and the result of the operation 👇👇👇
📉 I just opened a short position on $MYX (this was yesterday 09-Sep) — but don't just focus on the “signal”… focus on the analysis.
In the 1H chart, the price shows a great hype driven in part by FOMO.
This is confirmed with a clear bearish divergence:
🔺 The price rises
🔻 The RSI does not follow — indicating a loss of strength
🔍 When going down to 5M to look for an entry trigger, we observe that the price had been forming a bearish channel from 18.5 to the area of $13, where the impulse retracement occurs and seeks liquidity at the previous maximum relative levels at 16 which coincides with an overbought RSI giving our entry greater probability.
📌 Trade Strategy:
— Entry: area of $16.1
— TP1: $13 TP2 will be with a trailing stop through price action
— SL: $16.5 (area of maximum RSI overbought)
📚 Analysis is key. Do not trade by emotion, nor by copying. Learn to read the market.
Discipline not impulse. Plan not intuition.
