Welcome back everybody, We are patiently waiting for our first target to be hit. Daily time frame is still looking really good. It should be in everybody's interest to wait for today's candle to be closed before taking any shorting opportunities. The trend also seems to be up trend again. One more update is "$10,000,000" USDT minted at Tether. I believe we are going to see some volatile bullish moves before we close today's candle. It seems like there is not much resistance untill the 38.2% level around $11,177.
Focusing around the 7 minute mark, when there's a trail of sell signals and the price continues going up, how do you read that situation?
The same thing happens when we move to the 4H (just with more reliability) and an entry point is not quite clear without using other TA considerations and indicators.
Thoughts?
MegalodonTrading
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@SwiggitySwerve, We look at daily time frame before moving into shorter time frames to get in or our from a trade. Since yesterday's daily candle bar was giving us a up trend signal, those sell signals have been ignored. Price location is the most important thing that you need to look for before putting any trades with any indicators.
MegalodonTrading
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@MegalodonTrading, Excellent question by the way. I will try to refer to that question next time.
SwiggitySwerve
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@MegalodonTrading, To improve upon some visual backtesting outside the current trend it might also be educational to look back at the fall off from the 2017 ATH due to the similarity of the macro pattern similarities we're experiencing now.
But as usual, excellent content
Keep it up Megalodon
MegalodonTrading
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@SwiggitySwerve, I 100% agree. Thank you so much for a constructive feedback. I will take a look as soon as possible.
The same thing happens when we move to the 4H (just with more reliability) and an entry point is not quite clear without using other TA considerations and indicators.
Thoughts?