Hi Everyone! Looks like upward pressure may continue in the 6h time frame at least until the 3-Day candle closes in approximately 17 hours. Where that takes the price action is hard to say. Yes, I placed a LOCAL Fib Extension in the 6h chart with a 1.618 Fib Extension putting us inside my Long Term 2.618 Fib Extension inside the lower 40K's. However, I'm one who only see's Fib Extensions as "targets" and prefer to focus more on when the indicators say we are done than assume the Fib Extension target decides when we are done.
Please pardon if I have led people astray by not EMPHASIZING the IMPORTANCE of NOT drawing a "conclusion" until the current 2-Day and 3-Day candle CLOSES. I "normally" do EMPHASIZE that and SHOULD have continued to EMPHASIZE that fact somehow when deciding what I'm going to put in the TITLE of my publications.
DO NOT ASSUME I'm saying the price action is going up to the lower 40K's as though it's a flat statement. I'm NOT saying that as a matter of fact. I've learned to be careful not to make bold/flat statements like that. Especially, when other traders money is at stake. What's IMPORTANT is to place our emphasis on what the indicators are telling us at any given time for the TYPE -OR- MULTIPLE TYPES of trading we are doing at any given time.
I'm honestly doing my method an injustice by not providing the following signals and updating those signals on a consistent basis (every 2 to 8 hours as necessary according potential changes in the indicators):
Scalping Group of Time Frames: 6min. 12min. 23min. and 45min. Short Term Group of Time Frames: 90min. 3hr. 6hr. and 12hr. Near Term Group of Time Frames: 24hr. 2-Day, 3-Day and 4-Day Mid Term Group of Time Frames: 3-Day, 6-Day, 9-Day and 12-Day Long Term Group of Time Frames: 1-Week, 2-Week, 3-Week and 4-Week Macro Cycle Group of Time Frames: 1-Month, 2-Month, 3-Month and 4-Month (Some assets do not have enough data for this group for the indicator to populate)
Keeping signals updated CONSTANTLY (Every 2 to 8 hours) for those groups is IMPORTANT for everyone involved when involved in only one of TYPE of trading or even ALL TYPES of trading (Lion Trader).
CLARIFICATION: There comes a time in which we need to sleep. Which means we will not be constantly trading the "Scalping Group of Time Frames" in order to get proper rest. Which is why I intend on performing the majority of my "Scalping" on FOREX during the work week (Monday through Friday).
I'll stop rambling...
Happy Trading and Stay Awesome!
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UPDATE:
Of course, we see upward pressure continuing in our 12h TF now. Upward pressure should continue at least until the White Energy comes down to level 50 in the 12h.
Thanks for the detailed view on btc. BUT do not try to focus on the idiots not reading/hearing your words as you say them. You prrfectly emphasize already on indications and NEVER use flat statements, so no worries if some people do not get ot right - they never will. Keep up the great work!
kyer
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Hey David,
'DO NOT ASSUME I'm saying the price action is going up to the lower 40K's as though it's a flat statement.' I
I agree you gotta protect yourself from offering financial advice, this sihts going to 40k though ahahah
Great analysis keep it up
gwops3201
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David, thanks for your early morning Wednesday update. Looks you're on 48/7. I hope you'll manage to take some hours off.
If steam exhausts it can be quite damaging. News read so much money is pouring in. But, if it does and if it is a smart money - those guys know how to play shorts too, not just going long. I think this is what some forget.
Apostle14
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Dear David, Thank you for the amazing work you are doing. I think we all appreciate the great efforts you are going to, to get this valuable information through. I just had a question regarding the lines and white energy, it seems that they are rather unpredictable in the sense that they can change quickly. A number of days you said POTENTIAL 30% to 40% drop and a day ago on the 3 day where the energy dropped below 50 and you called for a POTENTIAL 30% to 40% drop. It now seems that we are looking at POTENTIALLY 42K. Is there any reliability with any of the lines or the energy, or are we just guessing as the lines and energy changes every day or hour? Thank you. A huge fan.
Felipe_Tole
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Thanks David for the early update and your personal effort! get some rest please, we need you in your 100% for this 2021 :)
mkhib
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I've just found you sir. Thanks for all the generosity you have with providing us these information.
CeCeBreslin
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Thanks David!
As a follower I want to tell you that "MAY BE EXPERIENCING" means "MAY BE" and if your followers are emotional and take action they will learn not to jump the gun in time. I am in the process of learning it (and it's a lesson that does not come cheap). And as far as I am concerned you are always very careful what you are saying. I hope you don't feel bad about it and I hope followers take responsibility for their own actions, as I have learned to do. You have an enormous pressure on yourself as I know you are sensitive to the fact that people ARE using your TA to make what can be life-altering decisions.