REQ: timing the short
I eyed REQ last night, usually after a big green candle with a long upper wick I expect a shooting star like this one it's forming right now and eventually an hanging man (tomorrow?) although it's also possible to see a direct reversal tomorrow.
At 1h RSI has the typical pattern of when reversal has started but at 4h it's still ok as the higher peak corresponds with the higher price:
When I compare 1h to the 4h it's when I get confused the most as 1h looks like it'll dip further but it's the 4h that has to close like this or lower for a valid sign of reversal. So this makes me uncertain on whether I should enter, right away or after the 4h confirmation. I think I'll wait the 4h risking to lose the train though.
My hypothetical targets if I enter is on the chart but in case I change the I'll update the signal
Good luck
At 1h RSI has the typical pattern of when reversal has started but at 4h it's still ok as the higher peak corresponds with the higher price:
When I compare 1h to the 4h it's when I get confused the most as 1h looks like it'll dip further but it's the 4h that has to close like this or lower for a valid sign of reversal. So this makes me uncertain on whether I should enter, right away or after the 4h confirmation. I think I'll wait the 4h risking to lose the train though.
My hypothetical targets if I enter is on the chart but in case I change the I'll update the signal
Good luck
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