Forgive the precision. It is not normally a good idea to be this specific on targets.
The “W” is so obvious at this stage, perhaps too obvious, but it took a lot of effort by the bulls to paint this “W”. Many traders got burned on the way from my previous “decision box”. If the “W” works out the brown box is the obvious target because of standard TA measurement of it, price action and fib, all showing confluence there. Remember to think now already as to what to do if we reach it.
The next forecasted “decision boxes” are marked 1, 2 and 3. Lets se if I could get it spot on again. The current slow grind up makes it obvious and big candles heading to them devalues them incrementally. This makes block 1 most likely at this moment, 2 less so and 3 is a stretch.
I think we can expect shenanigans (fake outs) if we move into any of the blocks, on queue because of what happened off the previous “decision box”. These cause so much burning through the order books that the targets will be more conservative, and a fuss less pull away could overperform up to 12 300.
Do not forget that there is still space inside the triangle we are in, to make profit if we do not reach a decision point. This steady grind makes me think we will though. Add that volume is again contracting.
Money Man has got two colours on, but greener. He also put his glasses on because he needs to have a closer look when things look too good to be true.
Conclusion: This has got the potential to move far, so no need to enter on the line. A bit of space could keep you safe. The more faking and stuttering with big candles; the more orders will be burned through and cause volume to spike and this makes the target more conservative for me.
Very important: Please do not not like or comment or both and even follow. Also, being here you would know that these are ideas and not advice.
PS I see I have these “Private Chats” on the platform but cannot seem to open them. Is this because I am only a Pro?
The “W” is so obvious at this stage, perhaps too obvious, but it took a lot of effort by the bulls to paint this “W”. Many traders got burned on the way from my previous “decision box”. If the “W” works out the brown box is the obvious target because of standard TA measurement of it, price action and fib, all showing confluence there. Remember to think now already as to what to do if we reach it.
The next forecasted “decision boxes” are marked 1, 2 and 3. Lets se if I could get it spot on again. The current slow grind up makes it obvious and big candles heading to them devalues them incrementally. This makes block 1 most likely at this moment, 2 less so and 3 is a stretch.
I think we can expect shenanigans (fake outs) if we move into any of the blocks, on queue because of what happened off the previous “decision box”. These cause so much burning through the order books that the targets will be more conservative, and a fuss less pull away could overperform up to 12 300.
Do not forget that there is still space inside the triangle we are in, to make profit if we do not reach a decision point. This steady grind makes me think we will though. Add that volume is again contracting.
Money Man has got two colours on, but greener. He also put his glasses on because he needs to have a closer look when things look too good to be true.
Conclusion: This has got the potential to move far, so no need to enter on the line. A bit of space could keep you safe. The more faking and stuttering with big candles; the more orders will be burned through and cause volume to spike and this makes the target more conservative for me.
Very important: Please do not not like or comment or both and even follow. Also, being here you would know that these are ideas and not advice.
PS I see I have these “Private Chats” on the platform but cannot seem to open them. Is this because I am only a Pro?
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Got the "Private Chat" sorted out. Sorry for taking so long but slowly learning the platform
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I woke up this morning and could not help getting a knot in my stomach. This forecast has had so much attention that there is something over here with BTC, even if it looks calm. Stay safe, do not get too close to the fire, plan for both eventualities and then plan even for another layer on top of that. No trade will be perfect - you are not the market, only a participant.
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Just look at the order books!
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Keep an eye on the order books as well as the price and volume.
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I'm planning to post something again soon.
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Previous idea
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Here is my next contribution. Have a look, please.
