RSI on APECoin pullback. 3.80% gain on its way.

2 thg 6, 2022

APE is still in a downtrend and i wanted to post this before the trade finishes.


In the image attached you'll see 3 RSI readings.
RSI 1st candle = a MINUS of -1.43
RSI 2nd candle = a positive of +2.33 (This is the one i need)
RSI 3rd candle = a second confirmed postive of +4.93

As noted with my RSI formula. An RSI of 2.33 = a 1 to 2.33 risk reward ratio. So i entered the trade with those limits.
This will work even though i am betting AGAINST the main trend even though i can not find ANY divergences prior to the entry.
I do however have FRACTALS setup on a 21 period and i got a notification of one (Bullish) So i started looking for the first confirmed RSI signal closing over 50 (or closing over ZERO in this case)
After that, I need a second consecutive candle closing above 50 (or ZERO) as well. The second one is my entry.

Then i take the value of the first closing RSI over 50 and use it in the formula.

2 for my scale is 53 on a regular scale.
52 = a 1 : 2 ratio below the 200ma and a 1 : 3 above the 200ma (so we have 1 :2)
Now lets look at the left over numbers [ .33 ]
Here i move the decimal over ONE place and its [3.3]
So the total for my risk reward is ( 1 : 2.33 )

This would be the end of the pullback WITHOUT counting any momentum in the move. Usually 2 or 3 candles later youll have a candle closing EXACTLY at that height and the trend continues down.