Hi Everyone! Yes, it's possible to come down somewhere between
28
,900 and
29
,500. However, will we continue falling? In my opinion, No.... We still have upward pressure according to many time frames pointed out in this video.
So, can we fall down to the white/aqua LOWER B-Bands in the 3-hour time frame? Yes... Will we continue falling further than the white/aqua lower b-bands in the 3-hour time frame? The "odds" are against this according to the 2-Day, 3-Day, 4-Day, 5-Day, 1-Week, 2-Week and 3-Week time frames.
Also, do not assume we "must" fall down to 29 ,500 to 28 ,900. I simply want you to be super careful at present if in a short position.
I'll plan on providing another update about an hour or two AFTER the next Daily candle.
Happy Trading and Stay Awesome!
David
So, can we fall down to the white/aqua LOWER B-Bands in the 3-hour time frame? Yes... Will we continue falling further than the white/aqua lower b-bands in the 3-hour time frame? The "odds" are against this according to the 2-Day, 3-Day, 4-Day, 5-Day, 1-Week, 2-Week and 3-Week time frames.
Also, do not assume we "must" fall down to 29 ,500 to 28 ,900. I simply want you to be super careful at present if in a short position.
I'll plan on providing another update about an hour or two AFTER the next Daily candle.
Happy Trading and Stay Awesome!
David
Comment:
UPDATE:
5-Day time frame:
RED TEXT BUBBLE:
The Red Line in this 5-Day time frame is well above Aqua Level 90. Why am I bringing this up?
Well, Aqua Level 90 represents the Aqua UPPER B-Band. The Red Line currently above Aqua
Level 90 suggests the fair market value at this particular time is just above the Aqua Upper
B-Band. We still have 3-Days remaining in the current 5-Day candle. Which suggests we have
high odds of the Aqua Upper B-Band maintaining support. Which also suggests we may not see
a drop down to 29 ,500 to 28 ,900 price range. We'll see...
5-Day time frame:
RED TEXT BUBBLE:
The Red Line in this 5-Day time frame is well above Aqua Level 90. Why am I bringing this up?
Well, Aqua Level 90 represents the Aqua UPPER B-Band. The Red Line currently above Aqua
Level 90 suggests the fair market value at this particular time is just above the Aqua Upper
B-Band. We still have 3-Days remaining in the current 5-Day candle. Which suggests we have
high odds of the Aqua Upper B-Band maintaining support. Which also suggests we may not see
a drop down to 29 ,500 to 28 ,900 price range. We'll see...
Comment:
Comment:
UPDATE:
AS A REMINDER: We may not be in Phase B of a 2-Tiered Accumulation Schematic. It's also possible we could be in Phase E of a Descending Wedge Accumulation Schematic. However, we will not know which one it is until we see a significant pullback. If we see a pullback below 22,401, then we can conclude we were in Phase B of a 2-Tiered Accumulation Schematic. If we do not pull back below 22,401, we can conclude we were in Phase E of a Descending Wedge Accumulation Schematic. Unfortunately, we will not know which Accumulation Schematic we are in until a few months from now most likely.
AS A REMINDER: We may not be in Phase B of a 2-Tiered Accumulation Schematic. It's also possible we could be in Phase E of a Descending Wedge Accumulation Schematic. However, we will not know which one it is until we see a significant pullback. If we see a pullback below 22,401, then we can conclude we were in Phase B of a 2-Tiered Accumulation Schematic. If we do not pull back below 22,401, we can conclude we were in Phase E of a Descending Wedge Accumulation Schematic. Unfortunately, we will not know which Accumulation Schematic we are in until a few months from now most likely.
Comment:
UPDATE:
I'm going to share a short summary of how to determine what LEVERAGED position size to create when opening a SWING trade. I shared this SUMMARY with someone in the comments of my ETH publication. I thought I would share it here with the public.
I've recently whipped up a Swing Strategy Script using the 3-W, 18-D, 2-W, 12-D, 10-D, 8-D, 1-W, 6-D, 5-D, 4-D, 3-D, 2-D, 24-h, 12-h and 6-h to OPEN A POSITION. My strategy includes the 6-W, 5-W, 4-W, 24-D, 20-D and 16-D time frames as well... but I use those mainly to let me know what time frame to use to CLOSE positions. I also allow for up to a 15 percent move against my position. How?
Well, first I make sure I use no more than 2 or 3 percent of my equity in a leveraged position.
EXAMPLE: Let's say I have 1,000 total equity and I'm willing to risk 3 percent of that 1,000 equity. What is 3 percent of 1,000? Answer = 30
30 is 15 percent of what number?
Answer = 30 is 15 percent of 200.
This means I would open a 200 dollar position size with 30 dollars of that position being my own equity.
How do we determine how much leverage to use with 30 dollars to get a 200 dollar position?
200 divided by 30 = 6.666e
So, I would basically open a 200 dollar position with 6.5x leverage. This would equate to approximately 32 dollars of my own equity in that 200 dollar position.
What is 15 percent of 200 dollars?
Answer = 30 dollars.
Which means, I'm allowing my position to move up to 15 percent against me in order to liquidate my position. If it is liquidated, I've only lost 3 percent of my total equity.
Can you see how I'm allowing a trade to move up to 15 percent before liquidating my position and if liquidation occurs, I've only lost 3 percent of my total equity?
You may choose to only use 2 percent of your equity instead of 3 percent. Totally up to you.
The way my strategy script is setup with conditions met in the 3-Week time frame before opening a position increases the odds for a TREND to potentially be established. Which means it won't be very often I would have a position liquidated. Of course, it's important to have inputs setup for EACH time frame when doing this.
This was only a short summary with no details to explain what I'm doing with SWING trading.
I'm going to share a short summary of how to determine what LEVERAGED position size to create when opening a SWING trade. I shared this SUMMARY with someone in the comments of my ETH publication. I thought I would share it here with the public.
I've recently whipped up a Swing Strategy Script using the 3-W, 18-D, 2-W, 12-D, 10-D, 8-D, 1-W, 6-D, 5-D, 4-D, 3-D, 2-D, 24-h, 12-h and 6-h to OPEN A POSITION. My strategy includes the 6-W, 5-W, 4-W, 24-D, 20-D and 16-D time frames as well... but I use those mainly to let me know what time frame to use to CLOSE positions. I also allow for up to a 15 percent move against my position. How?
Well, first I make sure I use no more than 2 or 3 percent of my equity in a leveraged position.
EXAMPLE: Let's say I have 1,000 total equity and I'm willing to risk 3 percent of that 1,000 equity. What is 3 percent of 1,000? Answer = 30
30 is 15 percent of what number?
Answer = 30 is 15 percent of 200.
This means I would open a 200 dollar position size with 30 dollars of that position being my own equity.
How do we determine how much leverage to use with 30 dollars to get a 200 dollar position?
200 divided by 30 = 6.666e
So, I would basically open a 200 dollar position with 6.5x leverage. This would equate to approximately 32 dollars of my own equity in that 200 dollar position.
What is 15 percent of 200 dollars?
Answer = 30 dollars.
Which means, I'm allowing my position to move up to 15 percent against me in order to liquidate my position. If it is liquidated, I've only lost 3 percent of my total equity.
Can you see how I'm allowing a trade to move up to 15 percent before liquidating my position and if liquidation occurs, I've only lost 3 percent of my total equity?
You may choose to only use 2 percent of your equity instead of 3 percent. Totally up to you.
The way my strategy script is setup with conditions met in the 3-Week time frame before opening a position increases the odds for a TREND to potentially be established. Which means it won't be very often I would have a position liquidated. Of course, it's important to have inputs setup for EACH time frame when doing this.
This was only a short summary with no details to explain what I'm doing with SWING trading.
Short Term Group of time frames (30min. 60min. 90min. 2hr. 3hr. 4hr. 6hr. and 8hr.):
Near Term Group of time frames (12hr. 24hr. 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week):
Mid Term Group of time frames (4-Day, 8-Day, 9-Day, 10-Day, 11-Day, 12-Day, 13-Day and 2-Week):