$SIREN The daily chart has broken above the upper Bollinger Band. Here’s a common misconception:
Many people treat a touch of the upper band as a sell signal. In fact, after a squeeze ends and price breaks out, it’s not unusual for the price to continue tracking along the upper band. In this case, the upper band is evidence of strength, not a top. What you should really watch out for is the price moving back inside the bands and falling below the middle band at 0.0233.
Indicators describe the past; price moves into the future. Don’t treat them as predictions.
Just a market observation. Please make your own trading decisions.
Many people treat a touch of the upper band as a sell signal. In fact, after a squeeze ends and price breaks out, it’s not unusual for the price to continue tracking along the upper band. In this case, the upper band is evidence of strength, not a top. What you should really watch out for is the price moving back inside the bands and falling below the middle band at 0.0233.
Indicators describe the past; price moves into the future. Don’t treat them as predictions.
Just a market observation. Please make your own trading decisions.