$GTC is up 78.6 percent today and I am not touching it
One number is why
The 1h RSI sits at 88 which is deep into overbought territory
Buying here means buying right from whoever bought 78.6 percent lower
The 1h ATR runs at 7.6 percent of price so any tight stop gets wiped by normal noise
Price is already 17.1 percent off the 7 day high of 0.39300
I only change my mind on $GTC with an hourly close and hold above 0.39300
Or I wait for a pullback that holds 0.15653 and actually bounces
It could keep running without you and a bad entry costs more than a missed move
Chasing $GTC here or waiting for 0.15653?
#GTC #RiskManagement
One number is why
The 1h RSI sits at 88 which is deep into overbought territory
Buying here means buying right from whoever bought 78.6 percent lower
The 1h ATR runs at 7.6 percent of price so any tight stop gets wiped by normal noise
Price is already 17.1 percent off the 7 day high of 0.39300
I only change my mind on $GTC with an hourly close and hold above 0.39300
Or I wait for a pullback that holds 0.15653 and actually bounces
It could keep running without you and a bad entry costs more than a missed move
Chasing $GTC here or waiting for 0.15653?
#GTC #RiskManagement