Hmm.. there might be an opportunity to the long side but its higher risk (imo). The weekly/daily is still screaming downtrend so it would eb counter-trend to take a long entry.
When this s the case I try to take a smaller position and monitor it closely. Same rules apply as far as waiting for price to pull back and for the RSI to communicate that it is stretched to the max. In general, its better to avoid an entry when RSI is within the channel. You want it to be outside the channel... there are always exceptions of course.
When this s the case I try to take a smaller position and monitor it closely. Same rules apply as far as waiting for price to pull back and for the RSI to communicate that it is stretched to the max. In general, its better to avoid an entry when RSI is within the channel. You want it to be outside the channel... there are always exceptions of course.