Here's WHY a DIP and NOT a DUMP Before Upward Pressure Resumes.

This was a simply explanation using the Daily (24h) and the 2-Day Time Frames. However, a important part of understanding this was by also knowing upward pressure still dominates in the 3-Day, 4-Day and 5-Day Time Frames. I've labeled this a LONG position because of what I'm seeing in the mid to long term. The CHANCE for a DIP still exists. NOT a dump...

Comment:

We have TONS of upward pressure still available in the higher time frames (2-Day, 3-Day, 4-Day, 5-Day and soon the 6-Day and Weekly). If you have plans to open short positions on the way up, I cannot emphasize enough how important it is for you to be super careful. When you see a period of downward pressure approaching in lower time frames; such as the 3h, 6h and 12h; do not assume the price action must go down a decent piece before continuing up. It's very possible the price action may only go sideways during that brief period of downward pressure in a lower time frame.

Happy Trading and Stay Awesome!

David

Comment:

Posting this again here; hoping followers have their email notifications on to get this update:

A look at Moving Averages Exponential in the 24h Time Frame: