On a downtrend, with both 1 and 4 hr MA moving strongly downwards
First trade to look to follow clues from Aus.
Breaking into new high
HV30: down indication
RVI: slow uptrend intact
Entry: short a put at 0.117
Result and Conclusion:
Got out at stop loss, entry might not be as good, should not just focus on the RHV for entry, look at where the price is going, prices might be finding 1hr as support before going up again.
I think market is likely to reverse upwards. let take note and see the further prices play out.
1hr ma did not hold.
4 hour hold on, long term trend is the one to follow.