CLO has recently been pushed aggressively in the market. To be honest, I'm a bit tempted, but looking at the 4-hour RSI which has already soared to 76, it's clearly overbought. I need to stay calm.

My idea is this: rather than chasing the high now, it's better to wait for a pullback before entering. If CLO can hold steady at 0.715 (which is the previous high on the 1-hour chart and a key support level), then it's worth considering a long position. If it breaks below 0.695, I will cut losses immediately, keeping risk within -2.8%.

For profit targets, the first target is 0.75, which would yield about 4.9%; if the market continues strongly, the second target could be 0.78, offering a 9.1% return. But the prerequisite is to confirm support at 0.715.

Looking at the 1-hour MACD, the histogram is shrinking, indicating momentum is waning. This reinforces my idea to stay on the sidelines for now. Chasing the high directly is too risky. If not entering, set a stop-loss and avoid holding onto losses stubbornly. Wait until the signals are clearer.