This is a mind game played by top whales with millions & millions. The second you think the market is going to go one way, it tends to go the other...why you ask? Whales move the market in the direction that most of "traders", retail, FED, and other parties are routing for it to go. A simple reversal is all it takes for your previous bias to be wiped away in 2 seconds. It's important to consider both sides.
In order to be a whale, you need to think like one: This statement tells me whales will not want to sell their bags at 9000 - 9480 area (previous wick high on daily) because they want to make money and not lose it. The smart money has bought their bags at a very low price and you think they'd want to sell it at this level and short it back to where they bought at? Mathematically, this makes absolutely no sense & this game just isn't about TA's and trading in exchange. There's a whole other world of physiology involved and if you think otherwise whales will eat you for breakfast until you give up and quit. (over 90% of traders fail)
In conclusion, no we're not at the top and yes I strongly believe at least short term (maybe medium possibly long term) we've already bottomed out and whales are planning their next significant move to the upside.
Good luck going into the weekend, be smart, and ALWAYS stick to your trading plan. (second-guessing it will have you trading emotionally and that's how whales eat you for breakfast like they are hungry for).
If you enjoy this post, SMASH that like button & leave a comment on your thoughts behind the price action we've seen this week.
👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍
In order to be a whale, you need to think like one: This statement tells me whales will not want to sell their bags at 9000 - 9480 area (previous wick high on daily) because they want to make money and not lose it. The smart money has bought their bags at a very low price and you think they'd want to sell it at this level and short it back to where they bought at? Mathematically, this makes absolutely no sense & this game just isn't about TA's and trading in exchange. There's a whole other world of physiology involved and if you think otherwise whales will eat you for breakfast until you give up and quit. (over 90% of traders fail)
In conclusion, no we're not at the top and yes I strongly believe at least short term (maybe medium possibly long term) we've already bottomed out and whales are planning their next significant move to the upside.
Good luck going into the weekend, be smart, and ALWAYS stick to your trading plan. (second-guessing it will have you trading emotionally and that's how whales eat you for breakfast like they are hungry for).
If you enjoy this post, SMASH that like button & leave a comment on your thoughts behind the price action we've seen this week.
👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍