For me to enter i would need GJ to come down and hit the current fib and 158.500 or 157.500 to buy it up.
At 164.500 I'll need to assess what price wants to do to there because it can drop from there or it can retrace temporarily and fake everyone into selling at that fib only to continue bullish and raid everyone's stop losses. (I would if I was a bank)
This is probably my 1st choice of outcome as it just screams pure evil and hedge funds. Now as you can see - there are 2 bullish options and they both just depend on the depth of the retracement at the fib.
Basically, it depends on how pissed off the banks are on a Monday morning (today). If they feel like running everyone out of the market, they will flood the market and cause that deep retracement at about 156.500 or 157.500 or lower and THEN continue bullish.
Or they will only cause a shallow liquidity raid and let some of us live at roughly 162.500 or slightly lower and then continue bullish.
Remember - whatever I say here is not verbatim.
ANYTHING and everything can happen. I am always re assessing and readjusting my analysis's - as some of my projections will change mid-week and I'll then have a new projection depending on how price plays out and also depending on this week's news as there's a lot. (I don't trade news)
I will say this again and again - you MUST adapt to the market. Just because your projection at the beginning of the week says one thing it doesn't mean you need to stick to it just to prove to everyone on trading view and on your Instagram that you are 'right'. You will end up losing all your money and end up deleting your insta and blocking everyone.
During the week, if your analysis plays out differently to your Sunday projection so be it! Who cares if your wrong? Change it and adapt to the market conditions and be confident.
That is the difference between professional and amateur traders. There is no shame in being wrong in your analysis. What's wrong is being stubborn and wanting to always be right just to prove a point. The market doesn't give a f*ck if you are right or wrong it will just eliminate you with everyone else. The traders who adapt and evolve with the market conditions are the ones that make it and thrive. The sooner you can do that, the sooner you will make money consistently. :)
At 164.500 I'll need to assess what price wants to do to there because it can drop from there or it can retrace temporarily and fake everyone into selling at that fib only to continue bullish and raid everyone's stop losses. (I would if I was a bank)
This is probably my 1st choice of outcome as it just screams pure evil and hedge funds. Now as you can see - there are 2 bullish options and they both just depend on the depth of the retracement at the fib.
Basically, it depends on how pissed off the banks are on a Monday morning (today). If they feel like running everyone out of the market, they will flood the market and cause that deep retracement at about 156.500 or 157.500 or lower and THEN continue bullish.
Or they will only cause a shallow liquidity raid and let some of us live at roughly 162.500 or slightly lower and then continue bullish.
Remember - whatever I say here is not verbatim.
ANYTHING and everything can happen. I am always re assessing and readjusting my analysis's - as some of my projections will change mid-week and I'll then have a new projection depending on how price plays out and also depending on this week's news as there's a lot. (I don't trade news)
I will say this again and again - you MUST adapt to the market. Just because your projection at the beginning of the week says one thing it doesn't mean you need to stick to it just to prove to everyone on trading view and on your Instagram that you are 'right'. You will end up losing all your money and end up deleting your insta and blocking everyone.
During the week, if your analysis plays out differently to your Sunday projection so be it! Who cares if your wrong? Change it and adapt to the market conditions and be confident.
That is the difference between professional and amateur traders. There is no shame in being wrong in your analysis. What's wrong is being stubborn and wanting to always be right just to prove a point. The market doesn't give a f*ck if you are right or wrong it will just eliminate you with everyone else. The traders who adapt and evolve with the market conditions are the ones that make it and thrive. The sooner you can do that, the sooner you will make money consistently. :)