Everyone bullish with just a little buying... Not so fast.
So plan B came to be, instead of the slow drip down. I was prepared for the eventuality, and I'm still SHORT. Yes I said SHORT. I'll be adding more to my short position right around 8700-8800. There is a decent chance we get there.
I'm totally fine with being wrong. I actually even went against my very own indicator I'm testing (and that should tell you something about how good this little indicator I'm working on will end up being)... Already beating me at my own TA. Ha!
To be fair though, the buy signal it generated was after I posted my previous idea calling price to go down. Once again, good news, it didn't catch us off guard... AND, even more to be able to profit from.
I'll keep this one simple guys because price action from here has to really make up its mind about what its going to do.
DONT get too bullish yet. I can promise you we're not done correcting. Don't mistake some buying in a dip to be the end of the bear run... The end of 2018 and early 2019 (if some of you were here for that) taught me exactly just how well corrections ending don't come quickly one bit. Price always has to prove itself. It will not be some magical unicorn candle that all of a sudden propels us up and out of here. There is no get rich quick scheme here folks. Your profit, if you're lucky enough to have some, will prove in over months and YEARS.
Don't mistake trading with getting rich quick. If that was so, a ton of us that are posting ideas here wouldn't need to do it.
I'll keep reiterating that it's ok to be wrong on trades at times, what isn't ok is getting into any position without planning for alternative possibilities. Take this move up for example, it didn't catch me off guard completely because I knew there was the situation where this could happen. Haven't lost a penny. Still in my short trade. Will wait out the eventuality that we will get right back to about 7k in the long run. The higher it goes, the more I profit from the fall.
Ask any single serious trader on here if they truly think we have corrected? I'll tell you that the consensus stays the same.
I'm totally fine with being wrong. I actually even went against my very own indicator I'm testing (and that should tell you something about how good this little indicator I'm working on will end up being)... Already beating me at my own TA. Ha!
To be fair though, the buy signal it generated was after I posted my previous idea calling price to go down. Once again, good news, it didn't catch us off guard... AND, even more to be able to profit from.
I'll keep this one simple guys because price action from here has to really make up its mind about what its going to do.
DONT get too bullish yet. I can promise you we're not done correcting. Don't mistake some buying in a dip to be the end of the bear run... The end of 2018 and early 2019 (if some of you were here for that) taught me exactly just how well corrections ending don't come quickly one bit. Price always has to prove itself. It will not be some magical unicorn candle that all of a sudden propels us up and out of here. There is no get rich quick scheme here folks. Your profit, if you're lucky enough to have some, will prove in over months and YEARS.
Don't mistake trading with getting rich quick. If that was so, a ton of us that are posting ideas here wouldn't need to do it.
I'll keep reiterating that it's ok to be wrong on trades at times, what isn't ok is getting into any position without planning for alternative possibilities. Take this move up for example, it didn't catch me off guard completely because I knew there was the situation where this could happen. Haven't lost a penny. Still in my short trade. Will wait out the eventuality that we will get right back to about 7k in the long run. The higher it goes, the more I profit from the fall.
Ask any single serious trader on here if they truly think we have corrected? I'll tell you that the consensus stays the same.
Will be quick scalp play.
You can long at 8375, take scalp profit at 8700.