Could This Be the Beginning of a Correction? Read Comments...
We will have a new 3-Day Candle in approximately one more hour. The indicators will update then and we will have a look to see if the ENERGY is in the 60 percentile range when the ENERGY updates with a new 3-Day Candle.
I personally still see a chance of continued upward pressure for 3 days or more when looking at the indicators. However, this could mean that we just hang up high at current price range a little longer before we see a rather significant drop of 25% or more.
I commented on the ONE Caution Dot we see in the 4-Day time frame to point out IT IS RARE to see a dump begin on the very first caution dot in a 4-Day Candle when in a bull market. Can there always be a first? Sure, but I'm going with the "odds" of it not occurring in the past and "likely" not occurring in the future. With that said, it's still my opinion we will maintain upward pressure a little longer but I prefer to wait until we have a new 3-Day candle with updated indicators in the new 3-Day candle before providing more supportive information in that regard (of continued upward pressure).
If you want to play on the safe side and sell a PERCENTAGE of your trading bags while holding onto your HODLING bags, feel free to do so. There's no shame in doing that. Selling a small percentage of your TRADING BAG while holding onto more of your TRADING BAG in case it continues higher is okay PROVIDING you have a stop loss or stop limit in place as a safeguard. Keep in mind if your stop loss or stop limit is triggered, it will be a MARKET sell when triggered. This means the price it's sold may not necessarily be at the price you set your trigger for.
I'm going to workout with my son. I'll be back to providing another video publication after we have a NEW 3-Day candle begin.
Happy Trading and Stay Awesome!
David
I personally still see a chance of continued upward pressure for 3 days or more when looking at the indicators. However, this could mean that we just hang up high at current price range a little longer before we see a rather significant drop of 25% or more.
I commented on the ONE Caution Dot we see in the 4-Day time frame to point out IT IS RARE to see a dump begin on the very first caution dot in a 4-Day Candle when in a bull market. Can there always be a first? Sure, but I'm going with the "odds" of it not occurring in the past and "likely" not occurring in the future. With that said, it's still my opinion we will maintain upward pressure a little longer but I prefer to wait until we have a new 3-Day candle with updated indicators in the new 3-Day candle before providing more supportive information in that regard (of continued upward pressure).
If you want to play on the safe side and sell a PERCENTAGE of your trading bags while holding onto your HODLING bags, feel free to do so. There's no shame in doing that. Selling a small percentage of your TRADING BAG while holding onto more of your TRADING BAG in case it continues higher is okay PROVIDING you have a stop loss or stop limit in place as a safeguard. Keep in mind if your stop loss or stop limit is triggered, it will be a MARKET sell when triggered. This means the price it's sold may not necessarily be at the price you set your trigger for.
I'm going to workout with my son. I'll be back to providing another video publication after we have a NEW 3-Day candle begin.
Happy Trading and Stay Awesome!
David
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