Looking to firstly push up to 8282.
Retest.
Then up.
Retest.
Then up.
הערה:
Starting to look decent
הערה:
There it goes. We might see a retest or knowing BTC it could also just power up from here.
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In case anyone ever wonders about why i don't delete old S/R lines lol...
הערה:
A view from the weekly. Notice two things:
1) The Golden Cross
2) Old S/R levels are always going to be relevant
1) The Golden Cross
2) Old S/R levels are always going to be relevant
הערה:
As mentioned previously, old S/R lines are great. Next move to 10475
הערה:
So in general when it comes to channels, the golden number is 3. 3 touches before we see a move. We are at 2 for both...
הערה:
Rising Wedge forming, which could signal a dump coming:
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There it goes
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That's not a good sign, it's attempting to retest range and currently failing. We'll have to wait till end of the day:
הערה:
הערה:
It didn't make it back to the channel yesterady so predictably now, it's falling:
הערה:
Someone asked me for a target yesterday, I don't know. No-one knows. All we can do is comment on the price action.
Anyone selling you specific targets is a GURU WANNABE - avoid them. I've seen too many of them in my time trading. Worthless.
My advice, learn to trade. Don't listen to anyone, everyone is full of shit.
Anyone selling you specific targets is a GURU WANNABE - avoid them. I've seen too many of them in my time trading. Worthless.
My advice, learn to trade. Don't listen to anyone, everyone is full of shit.
הערה:
THIS IS NOT A COMPLETE PATTERN YET. I'm putting this here, because it does not deserve it's own post just yet. However there is POTENTIAL for a C&H on the D.
I want to stress that this means NOTHING right now, unless it completes the handle. So I will just monitor it for now:
I want to stress that this means NOTHING right now, unless it completes the handle. So I will just monitor it for now:
הערה:
Why do I trade high time frames and WHY YOU SHOULD TOO.
This market is immature and that makes it extremely prone to large swings. This is not due to MaNIpulAtIOn or whatever LOW IQ dumb shit your favourite Guru talks about when they LOSE YOUR Money.
It's simply due to the fact that professional traders use high tech tools to trade low times frames. If you are reading this, it's highly likely you are not them!
I trade longer time frames, and they can often take WEEKS to form. But the pattern is far more robust. Use that to your advantage.
This market is immature and that makes it extremely prone to large swings. This is not due to MaNIpulAtIOn or whatever LOW IQ dumb shit your favourite Guru talks about when they LOSE YOUR Money.
It's simply due to the fact that professional traders use high tech tools to trade low times frames. If you are reading this, it's highly likely you are not them!
I trade longer time frames, and they can often take WEEKS to form. But the pattern is far more robust. Use that to your advantage.
הערה:
Twas just an unsuspecting Wednesday:
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Bear in mind this still does not validate the C&H hypothesis...
Longer time frames DEMANDS patience. I will wait to see what happens.
Longer time frames DEMANDS patience. I will wait to see what happens.
הערה:
Patience.
הערה:
Some of the idiocy I see on TradingView... People actually basing two weeks of price action on a 60m chart. CLOWNS.
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Ignoring speculative patterns like the C&H which everyone seems to be creaming over, but HAVEN'T ACTUALLY FORMED YET...
Let's look at the weekly. We very rarely see recovery from this type of action:
Let's look at the weekly. We very rarely see recovery from this type of action:
הערה:
Yep as I said don't get excited about C&H patterns THAT HAVEN'T ACTUALLY FORMED YET.
As well as that people running 2 week predictions based off 60m charts is the height of stupidity here on TV.
As well as that people running 2 week predictions based off 60m charts is the height of stupidity here on TV.
הערה:
A far more likely scenario. Let's look at the weekly, we're on a downtrend right now and short of a miracle, I can see us testing that 100 MA.
Is that all doom and gloom? Not really, because that's still a general uptrend. It's just people are trying to short term trade a market which isn't conducive to short term trading unless you have any number of high tech trading tools to help you.
So as I keep saying, trade positionally. I'll buy more when I see concrete signs of a reverse and as always i'll keep my thoughts informed here
Is that all doom and gloom? Not really, because that's still a general uptrend. It's just people are trying to short term trade a market which isn't conducive to short term trading unless you have any number of high tech trading tools to help you.
So as I keep saying, trade positionally. I'll buy more when I see concrete signs of a reverse and as always i'll keep my thoughts informed here
הערה:
Look at the RSI line I drew just above. Never mind price action - that's a likely target.
הערה:
Let's now consider the daily chart, a full retrace from an ascending triangle would place us at 7k - This matches up with the weekly 100 MA.
However this is NOT a target because I am a positional trader. Meaning that if you're not already on the winning side... wait until a trend change.
However this is NOT a target because I am a positional trader. Meaning that if you're not already on the winning side... wait until a trend change.
הערה:
Or if you want the false security of a target
Go listen to the latest dumbshit Guru peddling two week targets from a 60 minute chart. Or the latest fuckwit who's ideas amount to nothing more than "we could go up or down".
Go listen to the latest dumbshit Guru peddling two week targets from a 60 minute chart. Or the latest fuckwit who's ideas amount to nothing more than "we could go up or down".
הערה:
I'm a little out of the loop, but may someone aware me on how the Guru/fuckwits are explaining this one?
Is it manipulation, coronavirus, China (in general lol) or something else this time??
LOL
Is it manipulation, coronavirus, China (in general lol) or something else this time??
LOL
הערה:
This is potentially interesting. Obvious hammer but there is also a triple reversal pattern here, the name of which escapes me right now.
However I will remain patient until clearer signs on the W.
For now, it's ... interesting only.
However I will remain patient until clearer signs on the W.
For now, it's ... interesting only.
הערה:
We continue here:
The progress of this bullish move is dependant entirely on whether we move back into the descending channel. If we bounce off, great. If sink back, not great.