Dusk - Bullish divergence
On the above 4-day chart price action has corrected 90% since December. Now is an excellent moment to be taking a long position. Why?
1) A strong ‘buy’ signal. Users of PoP, you know what this means on this time frame. Look left.
2) Price action and RSI resistance breakouts.
3) Regular bullish divergence with money flow. Follow the money.
4) RSI moving above 50 for the first time in 144 days. Look left (red circles). It is no mystery what should be expected in the weeks ahead.
5) On ‘what if’ list, all conditions met.
6) Turn your attention to where ‘sellers exhausted’ is written above the extended wicks of the identified candles. When a significant market sell off occurs, consolidates, it is typical to see attempted rallies sold off. What is significant here is just how far the rally moved up before sellers made an appearance. This is classic seller exhaustion signal. Look left.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: 6% of portfolio
Timeframe: < 6 months
Return: 10x
Bonus chart
If you’ve been following my ideas recently you’ll understand the significance of the the BTC pair testing the 2-day/50-day SMA (purple dotted line) following a strong buy signal.
1) A strong ‘buy’ signal. Users of PoP, you know what this means on this time frame. Look left.
2) Price action and RSI resistance breakouts.
3) Regular bullish divergence with money flow. Follow the money.
4) RSI moving above 50 for the first time in 144 days. Look left (red circles). It is no mystery what should be expected in the weeks ahead.
5) On ‘what if’ list, all conditions met.
6) Turn your attention to where ‘sellers exhausted’ is written above the extended wicks of the identified candles. When a significant market sell off occurs, consolidates, it is typical to see attempted rallies sold off. What is significant here is just how far the rally moved up before sellers made an appearance. This is classic seller exhaustion signal. Look left.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: 6% of portfolio
Timeframe: < 6 months
Return: 10x
Bonus chart
If you’ve been following my ideas recently you’ll understand the significance of the the BTC pair testing the 2-day/50-day SMA (purple dotted line) following a strong buy signal.
Trade active:
IB signal just printed on the 15hr chart. Look left.
BTC
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Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
1) The 1.618 Fibonacci extension as measured from last market top to correction bottom.
2) Point number (1) must be in combination with a strong buy signal. Check.
3) Price action must have broken resistance. Check.
Let me tell you where almost everyone in the market is at right now…. Boredom.
We’ve done capitulation, anger is done (judging by the comments on the $120k BTC idea, a few rekt outliers but that’s it), and now we’re thoroughly in the ‘boredom’ phase. This is the worst time to be bearish.
On a number of ideas I’m studying, Stargate being one.. boredom of that idea was peaking..
2-day chart
2-day DUSK chart
Be patient, don't let the boredom get to you. Go outside, do something different.