As you will see, from this UNIQUE ANALYSIS (I have noticed a number of authors "copying" parts of my work) that Bitcoin has been working in a series of WINDOWS, helping us determine tops and bottoms.
From this, we can forecast future resistance will be around $6,300-$6,450 and a date to watch out for being 7th November 2017. This APPROX date (don't be too rigid about this) may be a turning point for a top OR if we have a sharp selloff look for a bottom.
NOTE: It is not important that this approx. date gets hit.
What is important to be forewarned to watch out for it as a POSSIBLE TURNING POINT.
If it comes and goes with no event well ho hum we have lost nothing...
As we move closer to that date, if we see a more precise tradeable signal it will give us increased confidence and HIGHER PROBABILITY for a winning trade.
10+ Years Professional Trader and Trading Educator
REALITIES IN TRADING:
In trading, there are Winners and Losers. Accept it. If you can't you shouldn't be trading.
We protect our capital with stop losses. Our winning trades eat up our losing trades, with the goal, over a series of trades, to be NET POSITIVE.
Ignore newbies who are uneducated in trading & investing and say "You were so wrong" (we as traders know, a loss is insignificant over a number of trades).
Each trade posted is YOUR FREE CHOICE, YOUR RISK MANAGEMENT and YOUR RESPONSIBILITY.
Always factor in "WHAT IF I LOSE MONEY ????"
DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY
1. If you don't agree with my views or analysis and looking to just be mischievous, it's very simple, FOLLOW SOMEONE ELSE
2. I am not here to give you financial advice and if you take a trade it is YOUR FULL RESPONSIBILITY, not mine.
3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service.
4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit.
5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis.
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10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience.
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12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.
Next step we are looking for a TRIGGER for a long trade.
Be patient and I will announce.
I am showing you how I PATIENTLY WAIT for trades, and wait for the Market to COME TO ME not force trades which inevitably lose money.
We have a setup now we will look for an actionable trade.
- Target Price(s)
- Stop Loss
- Current Price (as of date/time of analysis)
- Horizon Date (and/or indicators that could make you revise from original trade)
- Capital (to get sense of your assessment of risk/reward, and your level of confidence.
I think any (even halfway serious) reader will understands that a 55% or 60% 'hit rate' would be phenomenal. Readers/viewers understand that derogatory comments from 'post-event quarterbacks' people who dont publish their own analyses/trades cant be taken seriously.
In any event -- it's always good to read thru your reasoning (along with the graphs/screenshots) .....