WLD 4H RSI dropped to 29, is this a bottom fishing or catching a falling knife?
$WLD /USDT - Long
Trade Plan:
Entry: 0.3832 – 0.3860
SL: 0.3666
TP1: 0.3981
TP2: 0.4071
TP3: 0.4206
Why focus on this structure?
- 15-minute RSI is oversold at 29.89, short-term rebound momentum is building.
- 4-hour EMA support at 0.3845, current price 0.3846 is hugging the support level, clear LONG signal (84% confidence).
- Why now? Although the 1D trend is bearish, small timeframe oversold + support unbroken creates a typical "counter-trend bounce" opportunity.
- Targets TP1 0.3981, TP2 0.4071, stop loss 0.3666