BTCUSD: IMPORTANT for ANY TIME When Considering a Trade...
Hi Everyone! The purpose of this video was to point out HOW IMPORTANT it is to seriously consider looking at the IMMEDIATE GROUP of time frames before "pulling the trigger" on your trade. This is VERY IMPORTANT...
We MUST take into account we have UPWARD pressure "triggered" in the 6-hour time frame WHEN the Red RSI "closed" above Level 50 the previous 6-Hour Candle. Which means, the current PRESSURE TREND is in favor of UPWARD PRESSURE. The reason WHY it is IMPORTANT to consider this is to be MINDFUL of opening trades WITH the PRESSURE TREND rather than "against" the PRESSURE TREND. Which means, we would need to be super cautious at this time if considering opening a margin short or sell out-right. Because any moves down we may see in time frames LOWER than the 6-hour time frame may only be a "shallow" fall down to a higher low rather than a lower low because of the upward pressure just "triggered" in the 6-hour time frame and on the verge of triggering upward pressure in the next 8-hour and 12-hour time frames.
ALWAYS REMEMBER the TREND is your FRIEND... I want you to focus on PRESSURE TREND in higher time frames to determine which pressure trend you are going to trade in LOWER time frames.
Happy Trading and Stay Awesome!