Trying to keep this as imple as possible and adding perspective.
Bullish:
- Scarce or none bearish presence from the 0.5-1 level
- Gargantouan rally springing from that level with convergent volume
Bearish:
- The depth of the downtrends denotes that although the bears are shy but strong when stepping in from the 9-11$ price range.
Any prominet set up here?
Textbook supply & demand set up.
1. Bulky rally with high momentum candles erupting from 0.5-1$ level, validated by volume.
2.Shy but steady retacement to the same level.
3. Whoever bought and cause that rally back in 2020 is buying again and giving us a buy trigger.
We have a logical place where to set a stop loss. 2 profit targets ... woudl just be extra due dilligent with the risk managemet here. Perhaps doubling the emphazis on the position size snce this market seems to be so prone to violent moves.
Rememnber:
1. current candle, which for now is giving us a trigger, is not yet closed (20 left). Be patient.
2. There are no certainties in trading. The price might as well fall and close below support which would give us a sell signal.
The name of the game is not predicting, but instead reacting well, managing risk, find good r/r setups, stay a alive, repeat a zillion times in order to allow the odds to help you out and manage all the emotions that will be begging you to deviate from your plan.
Bullish:
- Scarce or none bearish presence from the 0.5-1 level
- Gargantouan rally springing from that level with convergent volume
Bearish:
- The depth of the downtrends denotes that although the bears are shy but strong when stepping in from the 9-11$ price range.
Any prominet set up here?
Textbook supply & demand set up.
1. Bulky rally with high momentum candles erupting from 0.5-1$ level, validated by volume.
2.Shy but steady retacement to the same level.
3. Whoever bought and cause that rally back in 2020 is buying again and giving us a buy trigger.
We have a logical place where to set a stop loss. 2 profit targets ... woudl just be extra due dilligent with the risk managemet here. Perhaps doubling the emphazis on the position size snce this market seems to be so prone to violent moves.
Rememnber:
1. current candle, which for now is giving us a trigger, is not yet closed (20 left). Be patient.
2. There are no certainties in trading. The price might as well fall and close below support which would give us a sell signal.
The name of the game is not predicting, but instead reacting well, managing risk, find good r/r setups, stay a alive, repeat a zillion times in order to allow the odds to help you out and manage all the emotions that will be begging you to deviate from your plan.