BTCUSD: Potential Continuation to Proximity Range 45750 to 47950
Hi Everyone! If our Green RSI continues going up the next 5-Day candle beginning 1-Day and 23-Hours from now, the indicator "conditions" will increase the odds to run up within proximity of the white/aqua upper b-bands. I'm not necessarily expecting expansion of the B-Bands in the 5-Day time frame the next candle due to how low the Blue LSMA is below Level 50. Therefore, if a scalper, you may consider taking profit within proximity of the white/aqua upper b-bands.
If you are already in a long position from the white/aqua LOWER B-Bands, you may have already taken 33% to 50% profit at the B-Band Basis; while letting the remaining 50% to 67% ride to what may potentially be the white/aqua UPPER B-Bands in the 5-Day time frame. Should you consider leaving a margin long open if we manage to reach the white/aqua upper b-bands? I would take at least partial profit there as well if you think the price could continue running up higher. Just know the Red RSI inside Phoenix Ascending indicator needs to run up to the white/aqua UPPER B-Bands to help hold SUPPORT for the price action to maintain the price levels around the white/aqua upper b-bands inside the Bad Ass B-Bands indicator.
Don't feel like you have to knock it out of the park all the time! Be willing to take profit if you don't see the Phoenix indicators providing support for the price action to be where you would like for it to stay and continue going higher.
We should know when our indicators are telling us increased odds is present to run UP from the white/aqua lower b-bands to the yellow b-band basis; where we potentially take profit.
We should know when our indicators are telling us increased odds is present to run UP from the white/aqua lower b-bands to the white/aqua upper b-bands; where we potentially take profit.
We should know when our indicators are telling us increased odds is present to fall DOWN from the white/aqua upper b-bands to the yellow b-band basis; where we potentially take profit.
We should know when our indicators are telling us increased odds is present to fall DOWN from the white/aqua upper b-bands to the white/aqua lower b-bands; where we potentially take profit.
Sometime, the indicators will not be clear UNTIL THE NEXT CANDLE (after you have opened your position) if the price action has increased odds to continue going UP from the Yellow B-Band Basis to the white/aqua UPPER B-Bands if in a long position.
Sometime, the indicators will not be clear UNTIL THE NEXT CANDLE (after you have opened your position) if the price action has increased odds to continue going DOWN from the Yellow B-Band Basis to the white/aqua LOWER B-Bands if in a short position.
BOTTOM LINE: We should be familiar enough with the indicators to determine WHEN to open a long or short position; will our TARGET be the Yellow B-Band Basis, white/aqua upper or white/aqua lower b-bands; create plans to take full profit or partial profit once a target is reached by seeing what indicators look like with new candles; determine where we set our stop loss to keep losses small and gains large.
When using these indicators, you should know WHERE you will open a trade, WHERE to set your stop loss and WHERE to take full or partial profit on the trade BEFORE YOU EVEN EXECUTE (open) THE TRADE.
COVER CHART FOR PUBLICATION:
8-Hour Time Frame:
Text Bubble in 8-Hour Time Frame:
We may hang out around this Red Diagonal Trend line (above or below) for a little while
because of how much more room remains for the White Energy to go down to Level 50.
If you are already in a long position from the white/aqua LOWER B-Bands, you may have already taken 33% to 50% profit at the B-Band Basis; while letting the remaining 50% to 67% ride to what may potentially be the white/aqua UPPER B-Bands in the 5-Day time frame. Should you consider leaving a margin long open if we manage to reach the white/aqua upper b-bands? I would take at least partial profit there as well if you think the price could continue running up higher. Just know the Red RSI inside Phoenix Ascending indicator needs to run up to the white/aqua UPPER B-Bands to help hold SUPPORT for the price action to maintain the price levels around the white/aqua upper b-bands inside the Bad Ass B-Bands indicator.
Don't feel like you have to knock it out of the park all the time! Be willing to take profit if you don't see the Phoenix indicators providing support for the price action to be where you would like for it to stay and continue going higher.
We should know when our indicators are telling us increased odds is present to run UP from the white/aqua lower b-bands to the yellow b-band basis; where we potentially take profit.
We should know when our indicators are telling us increased odds is present to run UP from the white/aqua lower b-bands to the white/aqua upper b-bands; where we potentially take profit.
We should know when our indicators are telling us increased odds is present to fall DOWN from the white/aqua upper b-bands to the yellow b-band basis; where we potentially take profit.
We should know when our indicators are telling us increased odds is present to fall DOWN from the white/aqua upper b-bands to the white/aqua lower b-bands; where we potentially take profit.
Sometime, the indicators will not be clear UNTIL THE NEXT CANDLE (after you have opened your position) if the price action has increased odds to continue going UP from the Yellow B-Band Basis to the white/aqua UPPER B-Bands if in a long position.
Sometime, the indicators will not be clear UNTIL THE NEXT CANDLE (after you have opened your position) if the price action has increased odds to continue going DOWN from the Yellow B-Band Basis to the white/aqua LOWER B-Bands if in a short position.
BOTTOM LINE: We should be familiar enough with the indicators to determine WHEN to open a long or short position; will our TARGET be the Yellow B-Band Basis, white/aqua upper or white/aqua lower b-bands; create plans to take full profit or partial profit once a target is reached by seeing what indicators look like with new candles; determine where we set our stop loss to keep losses small and gains large.
When using these indicators, you should know WHERE you will open a trade, WHERE to set your stop loss and WHERE to take full or partial profit on the trade BEFORE YOU EVEN EXECUTE (open) THE TRADE.
COVER CHART FOR PUBLICATION:
8-Hour Time Frame:
Text Bubble in 8-Hour Time Frame:
We may hang out around this Red Diagonal Trend line (above or below) for a little while
because of how much more room remains for the White Energy to go down to Level 50.
Comment:
UPDATE:
Added a blue text bubble for the Weekly Chart.
Here is the text for the Blue Text Bubble if you need to use a translator:
We need the Blue LSMA to rise above Level 30 to increase
odds for price action to run up to proximity of the white/
aqua upper b-bands. So, we may still have to wait a while
to see if we may go up to the white/aqua upper b-bands
in this Weekly time frame. See the current price levels
of the white/aqua UPPER B-Bands in the right price column.
Added a blue text bubble for the Weekly Chart.
Here is the text for the Blue Text Bubble if you need to use a translator:
We need the Blue LSMA to rise above Level 30 to increase
odds for price action to run up to proximity of the white/
aqua upper b-bands. So, we may still have to wait a while
to see if we may go up to the white/aqua upper b-bands
in this Weekly time frame. See the current price levels
of the white/aqua UPPER B-Bands in the right price column.
Read the note for the Weekly Time Frame Chart:
Here is the text for the weekly chart if you need to use a translator:
We need the Red RSI to rise about Level 50 in this
1-Week time frame if the price action is to have
increased odds of rising up to proximity of the
white/aqua UPPER B-Bands. We still have 2-Days
and 21-hours remaining in the current 1-Wk candle.
This means we may expeirence quite a bit of
resistance in lower time frames when we approach
the current $45,362 price level of the B-Band Basis
in this Weekly time frame.
This means the lower end of my target range is more
likely than the upper end of my target range at present.