On the above 1-day chart price action has corrected from a high of almost 10 cents last year by 96% to current levels since the market top ‘pi-cycle’ alert triggered. A number of reasons now exist to go long, including:
1) The ‘incredible buy’ signal.
2) Regular bullish divergence.
3) What was said above is also true of the BTC pair. On the 2-day chart (below) a strong buy signal is printing. There’s not much time to react to those things once they pop.
30% up since a few days ago. Wedge has broken out, now ride price action back up for a 250% win.
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Throughout my ideas you will frequently read how 90-95% of market participants will lose money. Whether a day trader, swing trader, active investor, the majority of those participating will lose. Who accepts those terms and conditions?
The recent Bull Flag and Higher Low that just printed on the daily chart below smacks of this rule. Let’s break it down.. if you can understand this, accept it and control emotions.. I guarantee you will be in the 5%.
Sellers came in and sold and sold until a bottom was found. The ‘incredible buy’ signal then printed.
After this there was a rally followed by a sell off. But here’s the interesting part, the buyers of the 1st rally were also sellers in the correction that created the bull flag, otherwise they would have been sellers in the initial sell off to the bottom.
Still with me?
Here’s the fireworks.. the correction that created the bull flag was about 90% into the 1st rally!! With the remaining 5-10% still holding, thereby creating that higher low.
The same 10-5% are now using the higher low to re-accumulate. I am, and I thank the 95% for their services.
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The 10-day chart BTC pair has just printed a double 'Great buy' signal with Stochastic RSI crossing up 20 (purple circle).
Yes this one is on the 'what if' list. Are you hearing me on FM folks? If a drop a hint any harder it will break me foot.
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Does a 70% move sound good? Price action confirms bull flag breakout. Extension measures 70% move to upside.
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Also just noticed price action confirms support on the golden ratio, fascinating.
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Ask me below if you would like an update to when a 'sell' signal prints.