Everything have been said, awaiting the last step ! - LDTP #3
Let's do the point !
One word : PRESSURE !
You know the pattern : Exhaust - Pressure - Volumes, in LDTP #1 you will find the exhaust, in LDTP #2 you will find the internal pressure (You can find both of the ideas attached to this one), and here the pure pressure (with some volumes too).
But more ! On the LDTP #1, I spoke of the importance and the role that will play the imbalance in the exhaust and we are close to the answer.
First I said that I didn't expected the price to close in the support area before to complete the imbalance, and also that we will clearly see pressure if we go lower. Simple, we did both, we just picked in the support area and reacted by pressure straight to the imbalance.
Secondly, no hazard, we purely closed the imbalance, you had it, the area is on the graph since the start.
Now it's impossible for the moment to say if it's a reject from the market. So tomorrow will be so important for the future of BTC.
If we reject we will see some selling volumes, for the moment we don't have it so I'm quite confident.
If we come back on it, the rate to see it breakout the imbalance is good, but higher is the breakout better it is.
Another thing, and very important, the pattern need volumes, I said yesterday that we need buying volumes. Today we had it, unfortunatly it's not a buying candle, so not totally the pattern we search for beginners. This is way more complexe here and I don't think that we will see more volumes if we breakout the imbalance.
I will not hide that I already took position in market, you can find why in this idea (spoiler : Wyckoff again) :
On this timeframe, it's clearly not the complete pattern that I want to show here and I will not give advice to take position now in a way more complexe pattern. But in the same way I want to remind that I will not give signal if we don't have the beginner pattern that I explained since a few time now.
So to be clear : we wait buying volumes here (like always they are the key), and I hope we will find some. But this time I will not say that if we don't we will go lower for the reason I gave.
More important than ever : "Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions"
One word : PRESSURE !
You know the pattern : Exhaust - Pressure - Volumes, in LDTP #1 you will find the exhaust, in LDTP #2 you will find the internal pressure (You can find both of the ideas attached to this one), and here the pure pressure (with some volumes too).
But more ! On the LDTP #1, I spoke of the importance and the role that will play the imbalance in the exhaust and we are close to the answer.
First I said that I didn't expected the price to close in the support area before to complete the imbalance, and also that we will clearly see pressure if we go lower. Simple, we did both, we just picked in the support area and reacted by pressure straight to the imbalance.
Secondly, no hazard, we purely closed the imbalance, you had it, the area is on the graph since the start.
Now it's impossible for the moment to say if it's a reject from the market. So tomorrow will be so important for the future of BTC.
If we reject we will see some selling volumes, for the moment we don't have it so I'm quite confident.
If we come back on it, the rate to see it breakout the imbalance is good, but higher is the breakout better it is.
Another thing, and very important, the pattern need volumes, I said yesterday that we need buying volumes. Today we had it, unfortunatly it's not a buying candle, so not totally the pattern we search for beginners. This is way more complexe here and I don't think that we will see more volumes if we breakout the imbalance.
I will not hide that I already took position in market, you can find why in this idea (spoiler : Wyckoff again) :
On this timeframe, it's clearly not the complete pattern that I want to show here and I will not give advice to take position now in a way more complexe pattern. But in the same way I want to remind that I will not give signal if we don't have the beginner pattern that I explained since a few time now.
So to be clear : we wait buying volumes here (like always they are the key), and I hope we will find some. But this time I will not say that if we don't we will go lower for the reason I gave.
More important than ever : "Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions"
Comment:
25/01 : Ranging day, wait a little more.
Comment:
Always funny to see the precision of technical analysis. Imbalance do the job for the moment, we work on it until to take decision. Be carefull of fake breakout, wait the close of your candle, don't trade with emotions whatever happen.
Comment:
26/01 : Not what we want but nothing alarming until we don't have selling volumes on daily timeframe. For the moment it's only a pullback on resistances lines of the wyckoff pattern after complete the first target like show this image :
We always search buying volumes, but we can't take in count the imbalance area anymore.
We always search buying volumes, but we can't take in count the imbalance area anymore.
Comment:
27/01 : Another ranging day, lateralization isn't in the bull favor. We always search buying volume.
Comment:
31/01 A week later always the same status, boring week again, seems like lateralization. I'm a little bit pessimistic to see buying volumes. Not until we didn't another exhaust at least imo.
