Waves extremely oversold conditions

5 באפר׳ 2022

As a result of an artificial pump, waves dumped back to 32-36 range, just under this range that are the psychological e Fibonacci resistance around $30. I’ll be placing a limit order at 31.6, with stop loss at 29, it may not fill the order, but if it does, we have much a better risk/reward. It’s up to you to decide. If stop loss is hit, next supports to place buy orders are 26.2 and 21.6.
Personally, I don’t like to short oversold conditions, specially when it’s both 1hr and 4hr time frames