CHANCE For a Shakeout on Wednesday, May 6, 2020 to low $7K's.
As explained in the video; we have a CHANCE for a shakeout to begin Tuesday or Wednesday but likely Wednesday during a period of downward pressure. It's IMPORTANT to realize the price action does NOT have to go down dramatically during a period of downward pressure when we have upward pressure dominating in higher time frames. However, if the price action does go down dramatically in similar fashion to the way it went down $2,200 in May 16 & 17, 2019 in lower time frames, it SHOULD come back up rather quickly because of the upward pressure we are experiencing in the higher time frames. I'm leaving this publication NEUTRAL for now in these lower time frames because it is NOT certain the price action will go down DRAMATICALLY during a period of downward pressure WHILE UPWARD PRESSURE IS DOMINATING in higher time frames.
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I must RE-EMPHASIZE... We have a CHANCE of a dramatic drop Tuesday or Wednesday during this upcoming downward pressure. ONLY a CHANCE!!! Do NOT assume WE WILL have a dramatic drop. So, if you are thinking about shorting, PLEASE be careful.
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Some people have a "rude intent" in comments saying I'm wanting to take credit for a drop while protecting myself by saying there is a "CHANCE" of a drop as if I'm trying to be correct regardless of what may occur. If THAT is what you are thinking when listening to the video, you listened with a biased mind.
THE MAIN PURPOSE OF THIS VIDEO: To make sure people do NOT get alarmed if we actually do have a dramatic drop into the lower $7K's. Not get alarmed about what? I do not want people to assume a QUCK and DRAMATIC drop would mean we are resuming a bear market for several weeks. That would be further from the truth in my opinion. I believe if we had a dramatic drop to the low $7K's that it would be super quick over the course of 3 to 5 days before we are back up at the price level we fell from. Which means a bear market did not return and a BULL MARKET RESUMED.
THAT was the INTENT of this publication. This publication was NOT titled in a way to try to make it where I'm correct REGARDLESS of which way the market moved. PERIOD... It was simply to let people know a dramatic drop COULD occur and NOT to panic if it did occur. Especially, if it moved that much super fast because it would move back up super fast to where it fell from in my opinion.
THE MAIN PURPOSE OF THIS VIDEO: To make sure people do NOT get alarmed if we actually do have a dramatic drop into the lower $7K's. Not get alarmed about what? I do not want people to assume a QUCK and DRAMATIC drop would mean we are resuming a bear market for several weeks. That would be further from the truth in my opinion. I believe if we had a dramatic drop to the low $7K's that it would be super quick over the course of 3 to 5 days before we are back up at the price level we fell from. Which means a bear market did not return and a BULL MARKET RESUMED.
THAT was the INTENT of this publication. This publication was NOT titled in a way to try to make it where I'm correct REGARDLESS of which way the market moved. PERIOD... It was simply to let people know a dramatic drop COULD occur and NOT to panic if it did occur. Especially, if it moved that much super fast because it would move back up super fast to where it fell from in my opinion.
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A follower was kind of enough to remind me of the CME Futures gap that was filled on that $2,200 QUICK DUMP AND PUMP on May 16 & 17, 2019. I remember posting a publication about that gap standing a chance of getting filled.
Is there a "gap" to fill this time (present day)? We have a CME Futures Gap at $7,645.
Is there a "gap" to fill this time (present day)? We have a CME Futures Gap at $7,645.
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Actually at $7,625:
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A look at the Daily and Wednesday, May 6, 2020.
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Of course, I would prefer we go ahead and fill the CME Futures Gap at $7,625 "BEFORE" we continue going up rather than after we go up. Filling the gap afterward (as mentioned in the Aqua Blue Text Bubble) holds us back from going as high on this current run up till last week of May to first week of June. My opinion of course.
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It's currently 10:33pm Central Time here in the U.S. I will likely provide a new video publication for BTCUSD and ADAUSD in the wee hours of the morning.
Stay Awesome!
David
Stay Awesome!
David
