Ok I did a recent post keeping it simple for traders I’ll link it as its a valuable tools. Because it answer the why it works.
Now I’ll dive into the topic and this is to correct the miseducation.
And as I’ll again. Encourage traders to question and ask the whys behind price the whys behind why this is resistant or support. This is your edge. It’s not a strategy but it’s your ability to decode price and this is developed by questioning price and seeking the answer.
Now I’m doing this added post cuz I seen too many so called top authors say there isn’t support or resistance etc on Bitcoin. And I challenge this. they just don’t know how to read price!
Why I boldly say so
Let me put it to you this way ask yourself what makes support or resistance
And I bet 99% of yal will say the miseducation answer and it goes something like this - the market rejected this zone etc two times in the past etc so it’s resisting price so I’m expecting price to hit n break or reject when it comes back etc etc etc right! With no real logic . This is WRONG! That’s is the water down herded spoon feed meaning taught by the makers so you can be victimized. honestly that’s just the facts fam, furthermore if it don’t answer the why than it’s not right. If you can’t answer this then you don’t know what support and resistance is! And we have to do better to win in a sport that is made to trap u and use us to move their agendas!!
Now as always and your truly ill continue to unlock the power within you to be the 1% but you have to be willing to think and not just blindly follow bs.
You have to be become a proactive not reactive trader . And if your reactive you’ll always be behind the markets . Reactive traders have huge stop loss they have no real price targets that makes sense. They can’t explain price action . Now let me shows you the difference in methodology in HOW TO TRADE LIKE THEM
Now I did a completed post on what makes support and resistance so I won’t detail it but since I made this post based off of the “their saying there’s isn’t any “ etc on BTCUSD
I will give you the 3 things that makes support and resistance if you want the why and should you’ll have to go in find it n my posts and search to be enlightening as enlightenment causes evolution!
1. Rejection from a price extreme
2. High fluctuations in a single price candle or continuation
3 area of high indecisiveness.
These are you true support and resistance! If the market respect your trendline etc is due to one or more of these 3 and not how many rejection touches.
Now back to Bitcoin and understand it’s price action
Taking from number 3 we see we have indecisive candles. What are they? They are your spinning tops with large wick, on both sides evenly.
Now here the good part the the part that is missing in trading the WHY
So let understand what these candles means.
These candles are balanced candles
Every market like to be in harmony this is at a range state
It’s where their is an mutual agreement!
Now
In these candles we have both forces clashing together and the result is the extent of the wicks the long they are the more doubt in the direction and the more the market is balanced. Thus the top is the resistance for the bulls placed by the bears and the bottom wick is the support placed by the bulls for the bears
Now we must understand next is that it take volume to keep a market balance!
Thus both ends are liquidity zone. Therefore either is a target area for the opposite direction now I just gave you another gems in my future post on how I’d mastered forex posted which will be on how to take profits.
So let’s continue
Now if price breaks above an upper wick of this type of candle then the market will use that liquidity area as support against the bears in the future.meaning that when price retrace it will retrace to that zone and likewise if price breaks below it will target the lower wick as it is a liquidity zone and if price drops below it that zone is now support turnt resistance!
Now let’s continue
So now we must Also expect either side to defend that zone . This means if price breaks below and go to the lower wick we can expect the bulls to defend that position. Why? Cuz they added volume their to battle against the bears position in the candle as remember these candles are balanced and it require vol to harmonize the markets. So we should expect a reaction.
See how the right education can greatly empower you.
I encourage you’ll to become educated traders in price action
I’d drawn a figure here but I’d cover so much now I’m kind of don’t want to overall you with info but I’ll cover it another time as it happens all the time
HOW TO TRADE LIKE THEM-
FOLLOW LIKE SHARE
CORRECTING THE MISEDUCATION
Now I’ll dive into the topic and this is to correct the miseducation.
And as I’ll again. Encourage traders to question and ask the whys behind price the whys behind why this is resistant or support. This is your edge. It’s not a strategy but it’s your ability to decode price and this is developed by questioning price and seeking the answer.
Now I’m doing this added post cuz I seen too many so called top authors say there isn’t support or resistance etc on Bitcoin. And I challenge this. they just don’t know how to read price!
Why I boldly say so
Let me put it to you this way ask yourself what makes support or resistance
And I bet 99% of yal will say the miseducation answer and it goes something like this - the market rejected this zone etc two times in the past etc so it’s resisting price so I’m expecting price to hit n break or reject when it comes back etc etc etc right! With no real logic . This is WRONG! That’s is the water down herded spoon feed meaning taught by the makers so you can be victimized. honestly that’s just the facts fam, furthermore if it don’t answer the why than it’s not right. If you can’t answer this then you don’t know what support and resistance is! And we have to do better to win in a sport that is made to trap u and use us to move their agendas!!
Now as always and your truly ill continue to unlock the power within you to be the 1% but you have to be willing to think and not just blindly follow bs.
You have to be become a proactive not reactive trader . And if your reactive you’ll always be behind the markets . Reactive traders have huge stop loss they have no real price targets that makes sense. They can’t explain price action . Now let me shows you the difference in methodology in HOW TO TRADE LIKE THEM
Now I did a completed post on what makes support and resistance so I won’t detail it but since I made this post based off of the “their saying there’s isn’t any “ etc on BTCUSD
I will give you the 3 things that makes support and resistance if you want the why and should you’ll have to go in find it n my posts and search to be enlightening as enlightenment causes evolution!
1. Rejection from a price extreme
2. High fluctuations in a single price candle or continuation
3 area of high indecisiveness.
These are you true support and resistance! If the market respect your trendline etc is due to one or more of these 3 and not how many rejection touches.
Now back to Bitcoin and understand it’s price action
Taking from number 3 we see we have indecisive candles. What are they? They are your spinning tops with large wick, on both sides evenly.
Now here the good part the the part that is missing in trading the WHY
So let understand what these candles means.
These candles are balanced candles
Every market like to be in harmony this is at a range state
It’s where their is an mutual agreement!
Now
In these candles we have both forces clashing together and the result is the extent of the wicks the long they are the more doubt in the direction and the more the market is balanced. Thus the top is the resistance for the bulls placed by the bears and the bottom wick is the support placed by the bulls for the bears
Now we must understand next is that it take volume to keep a market balance!
Thus both ends are liquidity zone. Therefore either is a target area for the opposite direction now I just gave you another gems in my future post on how I’d mastered forex posted which will be on how to take profits.
So let’s continue
Now if price breaks above an upper wick of this type of candle then the market will use that liquidity area as support against the bears in the future.meaning that when price retrace it will retrace to that zone and likewise if price breaks below it will target the lower wick as it is a liquidity zone and if price drops below it that zone is now support turnt resistance!
Now let’s continue
So now we must Also expect either side to defend that zone . This means if price breaks below and go to the lower wick we can expect the bulls to defend that position. Why? Cuz they added volume their to battle against the bears position in the candle as remember these candles are balanced and it require vol to harmonize the markets. So we should expect a reaction.
See how the right education can greatly empower you.
I encourage you’ll to become educated traders in price action
I’d drawn a figure here but I’d cover so much now I’m kind of don’t want to overall you with info but I’ll cover it another time as it happens all the time
HOW TO TRADE LIKE THEM-
FOLLOW LIKE SHARE
CORRECTING THE MISEDUCATION
