Class 4: Strategies and Setups

Bullish setup:

1. Price at the level of support
2. Previous day low at support
3. Price gets spiked
4. After the spike, price goes up
5. Intraday, breaks market structure — what does that mean?
6. Or intraday, breaks resistance
7. Start looking at LTF to set up your longs=
8. Risk is your low of day

RSI — Relative strength indicator.

RSI is above 70(bullmarket 80) means the asset is overbought.

RSI is below 30(bearmarket 20) means the asset is oversold. If long then makes sense get into the position when RSI is below 20–30. OR close short position when it’s oversold.

DIVERGENCES