Begin Accumulation Despite One More Pullback Before Mark-Up.
It's hard to say if the next pullback will be a higher low or a lower low. If a lower low, we are looking at the lower boundary of my Aqua Blue Diagonal Channel. The Price Point was also mentioned in the publication. If you begin accumulating now, you may want to hold more cash in reserve for a potential pullback before the Mark-Up likely begins.
Comment:
Comment:
Keep in mind we may dance around between the lower boundary of the Yellow Diagonal Channel and the lower boundary of the Aqua Blue Diagonal Channel until the last couple of days of September to first week of October before a potential Mark-Up begins. So, you have time (in my opinion) to accumulate on dips seen with the indicators in the 3h, 6h and 12h time frames.
Comment:
UPDATE:
Simply copying and pasting a response of mine to a question in comments:
Yes, it's a bit too soon to say with confidence if our next pullback will be a higher low or lower low. This is when we have almost exhausted our limits as a technical analyst and must rely on our abilities as a trader.
We must trust our abilities as an analyst and trade accordingly. At this point, I personally would not be concerned about a stop loss IF I AM BUYING TO ACCUMULATE. I'm NOT talking to the one who seeds to open a margin long position. I'm ONLY talking to the one who is looking for WHEN to buy as much as possible for the purpose of accumulation to sell at a later date at a higher price. By all means, one should use a stop loss if opening a margin long position. If one is opening a margin long position, they should wait till the next pullback and see what the indicators look like.
When utilizing your abilities as a trader for the purpose of accumulation, one should practice dollar cost averaging technique. This basically means one is dividing the capital they wish to invest into a coin by a minimum of eight (8) and scatter six of those eight divisions as buy orders appropriately WHILE holding back the remaining two portions of those divisions in case the price action were to fall substantially lower before we see a reversal to sustained upward pressure. From that point on it will be a waiting game to the next top before consolidating again.
Should we begin accumulating now? I think so...
Would I allow myself to be stressed out or pissed if the price were to fall down to a lower low instead of a higher low? No, because approximately 20% was held back in the event that were to occur.
Would I allow myself to be stressed out or pissed if the price were to continue going higher and I had to use my remaining 20% to FOMO in buying LINKUSDT? NO... I would not be stressed out or pissed. That was a circumstance I was prepared to deal with because of my willingness to gamble on the price potentially falling to a lower low. I would simply suck it up and be thankful I was able to sell high (Around $19.xx) and buy low at an average price less than $10.xx. I would be super happy a plan came together and look forward to doing it all over again. ; )
Simply copying and pasting a response of mine to a question in comments:
Yes, it's a bit too soon to say with confidence if our next pullback will be a higher low or lower low. This is when we have almost exhausted our limits as a technical analyst and must rely on our abilities as a trader.
We must trust our abilities as an analyst and trade accordingly. At this point, I personally would not be concerned about a stop loss IF I AM BUYING TO ACCUMULATE. I'm NOT talking to the one who seeds to open a margin long position. I'm ONLY talking to the one who is looking for WHEN to buy as much as possible for the purpose of accumulation to sell at a later date at a higher price. By all means, one should use a stop loss if opening a margin long position. If one is opening a margin long position, they should wait till the next pullback and see what the indicators look like.
When utilizing your abilities as a trader for the purpose of accumulation, one should practice dollar cost averaging technique. This basically means one is dividing the capital they wish to invest into a coin by a minimum of eight (8) and scatter six of those eight divisions as buy orders appropriately WHILE holding back the remaining two portions of those divisions in case the price action were to fall substantially lower before we see a reversal to sustained upward pressure. From that point on it will be a waiting game to the next top before consolidating again.
Should we begin accumulating now? I think so...
Would I allow myself to be stressed out or pissed if the price were to fall down to a lower low instead of a higher low? No, because approximately 20% was held back in the event that were to occur.
Would I allow myself to be stressed out or pissed if the price were to continue going higher and I had to use my remaining 20% to FOMO in buying LINKUSDT? NO... I would not be stressed out or pissed. That was a circumstance I was prepared to deal with because of my willingness to gamble on the price potentially falling to a lower low. I would simply suck it up and be thankful I was able to sell high (Around $19.xx) and buy low at an average price less than $10.xx. I would be super happy a plan came together and look forward to doing it all over again. ; )
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