As a follow-up to my Idea from May 1st where I pointed out the key Volume Profile Support of 56.9k that has held and now we go into the weekend at the Volume Profile Resistance of 62k. Which of these breaks... Support or Resistance... will be the way Bitcoin goes! Does the bull trend fail or continue? Ichimoku will be the decider.
Had another great day trading Support and Resistance precision with Volume profile. I swear Volume Profile is like a cheat code for the markets. I want every trader to start learning and practicing this method!
Holding yellow support will be key here until we activate a stronger purple to break out of orange. Video says it all Stay tuned for further updates Happy Trading :) - TraderDaddyOG
We are currently being controlled by our white buying continuation - we rejected off the top and have sold off in our controlled selling algorithms. Today we will be opening up right on top of the bottom of this white channel and will be interested to see if this can pick up price and break out of our strong selling purple. If that happens I will add to my current...
This is why I love swing trading - you can be in a HTF long trade while still making money on the pullbacks. Follow along for continued analysis Happy Trading :) - TraderDaddyOG
Yes, 48 R:R sounds crazy. How about a 54 R:R? even crazier. Watch this video to understand how this is super possible over and over again in the markets. Happy Trading :) - TraderDaddyOG
Love what i'm seeing here on Morgan Stanley pre=earnings next Tuesday. I want to see us continue to build liquidity in this very controlled orange selling channel where we can then find yellow to activate and bring us further up for a breakout of orange and beyond. My price target for the next few weeks is in the $99-104 range, earnings dependent. Obviously, as...
It has been a while ride on PDD this past month! Don't take your eyes off the grand prize - a breakout of our larger time frame magenta selling channel. In order to do that, we needed to build liquidity in our controlled selling channels. We have activated a stronger buying continuation channel but will need some time to prove its' control. Be patient on this...
We've been eyeing this breakout since we started to prove sell-side tapering from our strong selling algo to our more tapered teal. Since then, we've seen healthy movement and if we're looking back to a year ago, we can see a similar pattern that formed prior to a larger breakout. So here I am going to allow us to come back and retest white if that's what price...
These same algorithms have been playing out time and time again for years. We need to see our strong yellow activated to break us out of controlled selling teal but more importantly out of our controlled buying green. Green is a bull's worst enemy and although there are intra-day and smaller time frame trades to be taken within, on the HTF it is constantly being...
Movements to be made as soon as we decide whether we've built enough liquidity in our teal tapered selling algo or if we need to dig deeper in stronger selling magenta and find support and a more tapered blue buying continuation. Will update as price develops! Happy Trading :) - TraderDaddyOG
Will be looking to enter a short here if we do fail teal controlled selling and see that magenta is in control. I expect price wants to come down to at least purple buying continuation to find support for a continued move upward. Happy Trading :) - TraderDaddyOG
This is super interesting and we could be near a great level to get in for a longer term hold. Many confluences on this one so keep this one on the list! Happy Trading :)
A pickup by our stronger buying continuation yellow would be very bullish. We do not want to see ourselves being guided by this very tapered green buying continuation. Stay Tuned! Happy Trading :) - TraderDaddyOG
With signs of tapering kicking in a month ago and our strong buying channels awaiting activation, we've been preparing for this breakout and finally got our entry last week! There's plenty more room for this to go although we can see some immediate signs of resistance here at our tapered teal. Look for yellow strong buying continuation to continue to activate and...
Next Stop: 247.50 When we see ourselves breakout out and retesting a strong selling algorithm like magenta here, we are almost guaranteed to come and retest the top of our tapered selling algorithm (teal here). Look for yellow strong buying to continue to activate and hold price for the move to retest teal. A future breakout of teal will then allow us to retest...
We are seeing rejection from a very tapered blue buying continuation after last week's rejection of purple. We are holding magenta stronger buying continuation so we will need to see this fail in order to get into a further downside trade - however, with additional proof of rejection from blue tapered, we can get in an early short position to at least magenta to...
Here's another video highlighting the trades I took this morning and yesterday and some of the longer term swing positions I'm in with analysis as to why I took them. Hope this was helpful Happy Trading :)