Price Down Pick Up!!! www.youtube.com/watch?v=lEBP9dpV...
Yes, I'm sticking my neck out with this prediction but now is the time to buy in my opinion.
Have a look at what I highlighted in history compared to current point in time. The Red Line did not make contact with the Green Line until a few days later (Sunday) after the bottom was realized (Wednesday) back in January 2017. The structure of the indicators look VERY SIMILAR.
Yes, I'm sticking my neck out with this prediction but now is the time to buy in my opinion.
Have a look at what I highlighted in history compared to current point in time. The Red Line did not make contact with the Green Line until a few days later (Sunday) after the bottom was realized (Wednesday) back in January 2017. The structure of the indicators look VERY SIMILAR.
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Yes, NORMALLY, one would wait for the Red Line to touch the Green Line WHILE the Green Line is moving up. That's applied most on the lower TF's. However, if you notice WHEN the price reverses in the higher TF's, it's often when the Green Line reverses that the price action reverses. It's then later "confirmed" when the Red Line makes contact with the Green Line.
What I'm calling is "anticipation" of the Green Line about to turn up in the 360m TF. A stop loss can be put in place at 2.0% of the LOW price if entry is made this very moment. If you do get stopped out, you can be prepared to make entry when similar situation occurs again in the 360m TF.
This does NOT apply to those who are Margin trading. Those who are margin trading SHOULD wait for confirmation in the Daily and 2-Day TF's.
What I'm calling is "anticipation" of the Green Line about to turn up in the 360m TF. A stop loss can be put in place at 2.0% of the LOW price if entry is made this very moment. If you do get stopped out, you can be prepared to make entry when similar situation occurs again in the 360m TF.
This does NOT apply to those who are Margin trading. Those who are margin trading SHOULD wait for confirmation in the Daily and 2-Day TF's.
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Another note for the 360m TF:
Again, I know this was a "GUTSY" call and many think I may have been "pre-mature" with this call. I too am admitting this call has been made pre-maturely compared to past calls.
I'm simply looking at the 360m TF and the Stochastic RSI about to bottom out within 4 hours. It's my opinion we just might find bottom there. I also placed Aqua colored "ovals" on the 2-Day TF. We now see them in the 360m TF. Seeing that the current location of the indicators are in the CENTER of that Aqua Oval also led me to make this call. Also with the 0.23 FIB being hit. That's what FIB I presume to be bottom on this trip down as well. Also, the Black Vertical Time Line marks when I believe reversal will be confirmed on the Daily on August 11th. Again, that's when it will be "confirmed." I'm simply trying to "anticipate" the location of where absolute bottom was found on this trip down.
I'm with Jour on this: Only trade a portion (maybe one third) at current location while saving the other two thirds. Don't forget stop loss on that one third you're trading now if you choose to make entry now.
Again, I know this was a "GUTSY" call and many think I may have been "pre-mature" with this call. I too am admitting this call has been made pre-maturely compared to past calls.
I'm simply looking at the 360m TF and the Stochastic RSI about to bottom out within 4 hours. It's my opinion we just might find bottom there. I also placed Aqua colored "ovals" on the 2-Day TF. We now see them in the 360m TF. Seeing that the current location of the indicators are in the CENTER of that Aqua Oval also led me to make this call. Also with the 0.23 FIB being hit. That's what FIB I presume to be bottom on this trip down as well. Also, the Black Vertical Time Line marks when I believe reversal will be confirmed on the Daily on August 11th. Again, that's when it will be "confirmed." I'm simply trying to "anticipate" the location of where absolute bottom was found on this trip down.
I'm with Jour on this: Only trade a portion (maybe one third) at current location while saving the other two thirds. Don't forget stop loss on that one third you're trading now if you choose to make entry now.
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Pardon this other notification you're getting with another post:
IT'S EXTREMELY IMPORTANT TO MAKE SURE TO KEEP YOUR LOSSES SMALL AND GAINS LARGE BY HAVING PROPER SAFEGUARDS IN PLACE. MEANING - "STOP LOSS"
IT'S EXTREMELY IMPORTANT TO MAKE SURE TO KEEP YOUR LOSSES SMALL AND GAINS LARGE BY HAVING PROPER SAFEGUARDS IN PLACE. MEANING - "STOP LOSS"
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Many of you may be preferring to wait to get an idea which one of these Schematics will come to be as pointed out in this chart I posted in my PREVIOUS publication. Which is fine... Nothing wrong with waiting for further confirmation. All I'm saying is if you make it a habit to create stop losses on your trades, you will eventually see opportunities to take additional risks; not necessarily more risk by trying to get in on a reversal at or near the bottom or top as possible.
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Thought I would add example images again of those 3 possible schematics:
Wyckoff Accumulation Schematic #1: i.imgur.com/gcrmXTd.png
Wyckoff Accumulation Schematic #2 i.imgur.com/54FyNdB.png
Wyckoff Distribution Schematic #1: i.imgur.com/nOJl0Dd.png
Wyckoff Accumulation Schematic #1: i.imgur.com/gcrmXTd.png
Wyckoff Accumulation Schematic #2 i.imgur.com/54FyNdB.png
Wyckoff Distribution Schematic #1: i.imgur.com/nOJl0Dd.png
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1440m (24h) TF:
720m (12h) TF:
360m (6h) TF:
720m (12h) TF:
360m (6h) TF:
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2-Day TF:
24h (1440m) TF:
24h (1440m) TF:
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It's weird how I make a good call and my rating goes down from 10237 to 10211 since publishing this idea.
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More downward pressure for at least another 12 hours according to the 3h (180m) TF:
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To be clear, I find it hard to believe we go below $5,775. We may not even go that low.
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Those of you who had a stop loss and were stopped out:
Let's wait a bit more before RE-entry.
Let's wait a bit more before RE-entry.
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Since other peoples money is involved, I'm going to wait for confirmation. In the mean time, I'm in the process of creating a new account on Binance with another email to set up for trading and share those trades made with everyone else. I'm only going to send 0.1 Bitcoin to that new account on Binance. Everyone will be able to see ALL the trades made on that account as I post the images periodically in the future.
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I ended up sending it to BitStamp instead to make it easier to trade multiple accounts. After miner fees for transfer, it ended up being 0.09998842 Bitcoin transferred to my BitStamp account. So, 0.09998842 will be my starting balance. Let's see how long it takes me to double it (100% increase) and then 1000% increase would be the next goal. This may take several months but we'll see. I will ONLY trade Bitcoin with that Bitstamp account.
; )
; )
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Here, so everyone sees the actual starting balance in BTC at the top: i.imgur.com/IELyUVH.png
Of course, I'm not doing anything at the moment. I'm simply waiting. Right now, I need to see how much BitStamp's fees are so I know how much of a percentage change needs to occur for it to be worth my while to exercise each trade.
Of course, I'm not doing anything at the moment. I'm simply waiting. Right now, I need to see how much BitStamp's fees are so I know how much of a percentage change needs to occur for it to be worth my while to exercise each trade.
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I just don't trust we're done yet with this downward pressure. We may have to wait until tomorrow or Sunday before another go at entry. Hard to say at this point in time.
The 4h (240m) looks like we still have more downward pressure for a while when looking at the Stochastic RSI and Phoenix ARI
The 4h (240m) looks like we still have more downward pressure for a while when looking at the Stochastic RSI and Phoenix ARI
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Based on what I see for the trading fees for less than $20,000 traded in a month; the fee is 0.25% each trade. Which means 0.25% for a sell if I were to sell now then 0.25% for re-entry. That would be 0.5% from exit to entry. Which means I would want more than a 0.5% drop to come out on top for the trade.
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Awakened by alarm... Going up from here it looks like.
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You can wait for the next dip in this 60m (1h) TF to get in if you have missed it.
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This looks very much like consolidation/accumulation occurring within a relatively tight trading range before taking us up. Don't allow them to play with your emotions with each move up and down. Simply wait for the next dip in the 60m TF.
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The 5m TF can be used to buy a dip as well; for those of you familiar with Godmode.
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What I'm about to say is what I would do if I had not made entry yet. I'm already in. I've been in...
You can divide what you're willing to invest into bitcoin into thirds (3rds) if you have not made entry yet.
1st third can be used to make entry based on the RED LINE in the 5m TF going down to 20% level or lower. Why did I not say the Blue LSMA going down to 20% or lower? Because this MIGHT be where we go up and if it goes somewhat parabolic from here, it may be quite a while before the Blue LSMA makes it to 20% or lower in the 5m TF.
2nd third can be used to make entry on the next dip. The thing is; there may not be much of a dip in the low time frames because this MIGHT be where we're going up. I have felt pretty good about this weekend being the time for us to go up. If not today, then tomorrow is likely. I simply have a hard time believing we tumble down into oblivion (as some people think). Which means I would hold that 1st third if we drop back down to $6,100 again. If we do fall down to $6,100 again, that's where you can make entry with your 2nd third and set a 2% stop loss on that 2nd third.
The 3rd Third remaining can be held in reserve for when the Blue LSMA finally makes it to 20% level or lower in the 60m TF. However, it depends on where the price is at that point. For instance, if we had a clear breakout and it went up above $6,700 to about $7,000+ we might wait for the Red Line to make it down to 20% level or lower in the 6h (360m) TF. I'll explain later when we make it to that point in time.
Here's a look at the 5m, 15m and 30m TF's: We're still waiting at the moment for the Red Line in the 5m TF (to the far left) to come down to the 20% level or lower. When it makes it there, we will wait and have a look at the 15m and 30m time frames along with the price action to see if we think the price action may come down more before making entry. If we think it won't and it's about to go up, that's where the 1st Third can be used for entry
You can divide what you're willing to invest into bitcoin into thirds (3rds) if you have not made entry yet.
1st third can be used to make entry based on the RED LINE in the 5m TF going down to 20% level or lower. Why did I not say the Blue LSMA going down to 20% or lower? Because this MIGHT be where we go up and if it goes somewhat parabolic from here, it may be quite a while before the Blue LSMA makes it to 20% or lower in the 5m TF.
2nd third can be used to make entry on the next dip. The thing is; there may not be much of a dip in the low time frames because this MIGHT be where we're going up. I have felt pretty good about this weekend being the time for us to go up. If not today, then tomorrow is likely. I simply have a hard time believing we tumble down into oblivion (as some people think). Which means I would hold that 1st third if we drop back down to $6,100 again. If we do fall down to $6,100 again, that's where you can make entry with your 2nd third and set a 2% stop loss on that 2nd third.
The 3rd Third remaining can be held in reserve for when the Blue LSMA finally makes it to 20% level or lower in the 60m TF. However, it depends on where the price is at that point. For instance, if we had a clear breakout and it went up above $6,700 to about $7,000+ we might wait for the Red Line to make it down to 20% level or lower in the 6h (360m) TF. I'll explain later when we make it to that point in time.
Here's a look at the 5m, 15m and 30m TF's: We're still waiting at the moment for the Red Line in the 5m TF (to the far left) to come down to the 20% level or lower. When it makes it there, we will wait and have a look at the 15m and 30m time frames along with the price action to see if we think the price action may come down more before making entry. If we think it won't and it's about to go up, that's where the 1st Third can be used for entry
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The previous chart was 5m, 15m and 30m. Here is the 3m, 10m and 30m TF's: The Blue LSMA will move more ACTIVELY across the full spectrum in the 3m TF more often than in the 5m. You may want to follow the 3m and 10m TF's more close and their Blue LSMA rather than focusing on the Red Line in the 5m TF. Keep in mind, the Red Line has already touched the Green Line in the 10m TF WHILE the Green Line was going down. And it did so with the Red Line, Green Line and Blue LSMA at or above the 80% level.
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720m TF:
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"IF" the Blue LSMA comes down here in this 30m TF, I've highlighted two potential trading ranges for us to remain a while before the next move up or down. Reminder, this is TENTATIVE (subject to change within the next 3 to 6 hours).
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60m TF: Simply showing a POSSIBILITY...
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Simply letting you know I'm still watching the 30m and 60m time frames to see what pans out. If you have been watching the 5m TF, I think you're beginning to see you cannot simply trade the 5m TF anytime you want to. The market conditions (volatility) needs to be just right in order to do that.
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Pardon the additional notification you're getting with this message.
As you know, whales (Composite Groups) can also see my posts and can likely use the Godmode indicator in a way to try to fool those who are using it. For example: Notice how high the Blue LSMA was in the 30m and 60m TF when we had a sudden move to the upside. The Blue LSMA was at approximately 74% level in the 60m TF and 80% level in the 30m TF when we had that sudden move to the upside. That was VERY tricky in that instance. I've also noticed (lately) how they will do dumps all of a sudden when the Blue LSMA is right at the 20% to 25% level on the 60m TF. Again, very tricky. I have an alternative to use as a precaution. Maybe some of you will figure out what that alternative is. I'm not going to mention it publicly or in a PM or Trading View. I'll mention it later on another website in the near future for followers who join me there.
As you know, whales (Composite Groups) can also see my posts and can likely use the Godmode indicator in a way to try to fool those who are using it. For example: Notice how high the Blue LSMA was in the 30m and 60m TF when we had a sudden move to the upside. The Blue LSMA was at approximately 74% level in the 60m TF and 80% level in the 30m TF when we had that sudden move to the upside. That was VERY tricky in that instance. I've also noticed (lately) how they will do dumps all of a sudden when the Blue LSMA is right at the 20% to 25% level on the 60m TF. Again, very tricky. I have an alternative to use as a precaution. Maybe some of you will figure out what that alternative is. I'm not going to mention it publicly or in a PM or Trading View. I'll mention it later on another website in the near future for followers who join me there.
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By the way, I'm not suggesting what-so-ever I'm leaving Trading View. NOT doing that at all. I'm simply referring to educational material on another website in the future.
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In case you haven't noticed, our dip has begun:
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Wish I had sold sooner before the dip began but you see my first exit and entry: i.imgur.com/5IeqXl5.png
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We could go down as low as $6,160 but I wanted to make sure I was able to get back in just incase it did not go down that low. Hence the $6,192
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Of course, expecting a bounce here but when looking at the 10m TF, there is a CHANCE for it to come back down again. How far? Not sure...
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Simply sharing an idea in regards to a potential "wedge" I've drawn in the 60m TF. It doesn't mean this idea of a wedge is correct. I'm simply showing things I'm looking for as price action plays out. We are certainly in the middle of some consolidation for sure. Will be go lower before reversal? Still unsure of that at the moment. We'll know more soon.
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I'm not for certain of this but it may be that if you go to "Share" and click it to see the option to "Make it My Own" in order to CLONE my chart to make it your own, you might also see the FIB's I placed on the chart.
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The reason WHY I mentioned my chart with it's FIB's is because those FIB's may be POTENTIAL trading ranges. Which see:
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Not a bad idea to also use the following indicator: BB 25 With Barcolors
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You see the Red line just passed through the Green Line While the Green Line was going down in the 5m TF. And it did so above the 80% level. Let's see what happens. It may not do anything until the 10m has done so. We'll see...
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I will be doing my first Video Publication sometime today. I'm going to call it "The Weekly Wrap Up." Every Sunday I want to begin doing a "Weekly Wrap Up" to provide perspective on where the market "appears" to be going according to the indicators.
I'm from Alabama, United States. So, please try to overlook my "southern draw" when listening to the video. lol
I'll talk to y'all soon.
David
I'm from Alabama, United States. So, please try to overlook my "southern draw" when listening to the video. lol
I'll talk to y'all soon.
David
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Simply providing an update on that 0.09998412 starting balance on BitStamp with a new account.
Image of current balance with the exit and entry trade; resulting in a little lower balance but STILL higher than what was transferred. More updates to continue in the future. i.imgur.com/i7StxE9.png
Image of current balance with the exit and entry trade; resulting in a little lower balance but STILL higher than what was transferred. More updates to continue in the future. i.imgur.com/i7StxE9.png
Related Ideas
We use "lower" TF's for more precise entry and/or exit. When looking at the 360m TF, I'm expecting the Green Line to come up soon and the Red Line should make contact with the Green Line WHLIE the Green Line is moving up.
Yes, there's a chance I may be pre-mature with this signal and it may go down a hair lower before reversal by this weekend. I'm simply seeing the likelihood of us finding bottom today (This Daily Candle).