Everyone's watching $NFP , but that RSI at 30.85? That's a trap, not a bottom.
$NFP - SHORT
Entry: 0.007930 โ 0.008008
Stop: 0.008346
TP1: 0.007686
TP2: 0.007497
TP3: 0.007214
Why this setup:
4h trend is bearish โ like 95% confidence bearish. The 15m RSI is oversold at 30.85, but the daily trend is still firmly down. Entry around 0.00797 with TP1 at 0.007686 gives a 3.5% drop before any possible bounce. If you wait for a dead cat bounce, you might miss the whole slide.
So what do you think? Fading the oversold RSI or just riding the trend down to TP2?
Click here to Trade ๐๏ธ
$NFP - SHORT
Entry: 0.007930 โ 0.008008
Stop: 0.008346
TP1: 0.007686
TP2: 0.007497
TP3: 0.007214
Why this setup:
4h trend is bearish โ like 95% confidence bearish. The 15m RSI is oversold at 30.85, but the daily trend is still firmly down. Entry around 0.00797 with TP1 at 0.007686 gives a 3.5% drop before any possible bounce. If you wait for a dead cat bounce, you might miss the whole slide.
So what do you think? Fading the oversold RSI or just riding the trend down to TP2?
Click here to Trade ๐๏ธ