Let's do the point !
Conclusion of the last idea : we didn't had a satisfying week-end in terms of volumes, so the analysis remains the same with a lot of technicals uncertainties (you can find it in the past idea attached to this one). I'm waiting for a pullback on the imbalances of the breakout (added on chart) to gauge the buying force and potentially new entry setups.
I'm also closing the rest of the long position of the Wyckoff structure of January 24th (you can find idea of this pattern attached to this one), the third target has been reached and without encouraging signals on the higher timeframes units, it's important to know to take gains and not being attached to utopian beliefs.
"Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions"
You have to know not to take too hasty conclusions and stay neutral as long as there is no clear confirmation of a renewal of the bullish momentum with, in particular, a retest on the breakout zone. Another time, I prefer to enter late in a trend than rapidly in a trap.
Macroeconomically and in a larger view, it's important to see a decorrelation with the stock market (crypto market have to evoluate with his own dynamic which is not the case this past weeks). Another good sign would be the installation of a bearish movement on the dollar.
Conclusion of the last idea : we didn't had a satisfying week-end in terms of volumes, so the analysis remains the same with a lot of technicals uncertainties (you can find it in the past idea attached to this one). I'm waiting for a pullback on the imbalances of the breakout (added on chart) to gauge the buying force and potentially new entry setups.
I'm also closing the rest of the long position of the Wyckoff structure of January 24th (you can find idea of this pattern attached to this one), the third target has been reached and without encouraging signals on the higher timeframes units, it's important to know to take gains and not being attached to utopian beliefs.
"Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions"
You have to know not to take too hasty conclusions and stay neutral as long as there is no clear confirmation of a renewal of the bullish momentum with, in particular, a retest on the breakout zone. Another time, I prefer to enter late in a trend than rapidly in a trap.
Macroeconomically and in a larger view, it's important to see a decorrelation with the stock market (crypto market have to evoluate with his own dynamic which is not the case this past weeks). Another good sign would be the installation of a bearish movement on the dollar.
