Upward Pressure to the 3-Day Candle Beginning August 13th.
Keep in mind the 3-Day Candle beginning August 13th has THREE (3) DAYS (13th, 14th and 15th). So, we could potentially see upward pressure continue to some time between the 13th and 15th of August before a major pullback.
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Comment:
UPDATE:
If the White Energy (WE) in the 3h TF (Left) can cross ABOVE the 50% level BEFORE the Red RSI in the 6h TF (Right) can cross BELOW the 50% level, then we have a CHANCE for upward pressure to return. If the White Energy in the 3h and the Red RSI in the 6h both hit the 50% level at the same time, the HIGHER TIME FRAME WINS THE TIE; which would mean downward pressure continues. We will know more in approximately 2 hours and 40 minutes remaining in the current 3h and 6h candles.
If the White Energy (WE) in the 3h TF (Left) can cross ABOVE the 50% level BEFORE the Red RSI in the 6h TF (Right) can cross BELOW the 50% level, then we have a CHANCE for upward pressure to return. If the White Energy in the 3h and the Red RSI in the 6h both hit the 50% level at the same time, the HIGHER TIME FRAME WINS THE TIE; which would mean downward pressure continues. We will know more in approximately 2 hours and 40 minutes remaining in the current 3h and 6h candles.
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UPDATE:
BOTTOM LINE: We must assume downward pressure continues UNLESS the White Energy in the 3h crosses above the 50% level BEFORE the Red RSI in the 6h crosses below the 50% level.
BOTTOM LINE: We must assume downward pressure continues UNLESS the White Energy in the 3h crosses above the 50% level BEFORE the Red RSI in the 6h crosses below the 50% level.
Comment:
UPDATE:
The White Energy in the 3h Time Frame has yet to CLOSE above 50 percent. Yet, the Red RSI in the 6h continues to come down closer to the 50 percent level.
REMINDER: If the Red RSI in the 6h manages to cross below the 50 percent level BEFORE the White Energy in the 3h CLOSES ABOVE the 50 percent level, this would mean downward pressure continues.
ADDITONAL NOTE: If the Red RSI in the 6h manages to cross BELOW the 50 percent level BEFORE the White Energy in the 3h CLOSES ABOVE the 50 percent level, we would IGNORE the 3 hour time frame and begin to focus on the White Energy in the 6h time frame and the Red RSI in the 12 hour time frame.
What would we be looking for in the 6h and 12h time frames at that point? We would look to see if the White Energy in the 6h can CLOSE "above" 50 percent BEFORE the Red RSI in the 12h crosses BELOW the 50 percent level.
KEEP IN MIND: We MUST assume downward pressure continues at that point UNTIL the White Energy in the lower time frame can CLOSE above the 50 percent level BEFORE the Red RSI in the higher DOUBLED time frame crosses BELOW the 50 percent level.
Not sure if you can understand this by reading it. It would be much easier to understand if I were showing it to you WHILE telling you. There is also ANOTHER RULE we would use to determine the LIKELIHOOD of that occurring. This will be covered in more detail on a another platform.
The White Energy in the 3h Time Frame has yet to CLOSE above 50 percent. Yet, the Red RSI in the 6h continues to come down closer to the 50 percent level.
REMINDER: If the Red RSI in the 6h manages to cross below the 50 percent level BEFORE the White Energy in the 3h CLOSES ABOVE the 50 percent level, this would mean downward pressure continues.
ADDITONAL NOTE: If the Red RSI in the 6h manages to cross BELOW the 50 percent level BEFORE the White Energy in the 3h CLOSES ABOVE the 50 percent level, we would IGNORE the 3 hour time frame and begin to focus on the White Energy in the 6h time frame and the Red RSI in the 12 hour time frame.
What would we be looking for in the 6h and 12h time frames at that point? We would look to see if the White Energy in the 6h can CLOSE "above" 50 percent BEFORE the Red RSI in the 12h crosses BELOW the 50 percent level.
KEEP IN MIND: We MUST assume downward pressure continues at that point UNTIL the White Energy in the lower time frame can CLOSE above the 50 percent level BEFORE the Red RSI in the higher DOUBLED time frame crosses BELOW the 50 percent level.
Not sure if you can understand this by reading it. It would be much easier to understand if I were showing it to you WHILE telling you. There is also ANOTHER RULE we would use to determine the LIKELIHOOD of that occurring. This will be covered in more detail on a another platform.
Comment:
UPDATE:
REMINDER: We are STILL experiencing DOWNWARD PRESSURE... If we do leg up one more time before having a MAJOR pullback, we may only pullback locally to the 0.382 FIB ReTrace around $11.58. However, if we reach the 0.382 FIB ReTrace and the indicators continue to show more downward pressure, this would indicate we are currently in the process of going through a major pullback to the 0.618 FIB ReTrace.
REMINDER: We are STILL experiencing DOWNWARD PRESSURE... If we do leg up one more time before having a MAJOR pullback, we may only pullback locally to the 0.382 FIB ReTrace around $11.58. However, if we reach the 0.382 FIB ReTrace and the indicators continue to show more downward pressure, this would indicate we are currently in the process of going through a major pullback to the 0.618 FIB ReTrace.
Comment:
UPDATE:
The 3-Day Candle beginning August 13, 2020; covering the period of August 13th, 14th and 15th might be the last 3-Day Candle in which we experience upward pressure. Is it possible for upward pressure to continue longer? Yes, but we are getting very close to my lower price target range within the 3.618 FIB Extension range seen on my chart.
3-Day TF WITHOUT indicators:
3-Day TF "WITH" Indicators:
The 3-Day Candle beginning August 13, 2020; covering the period of August 13th, 14th and 15th might be the last 3-Day Candle in which we experience upward pressure. Is it possible for upward pressure to continue longer? Yes, but we are getting very close to my lower price target range within the 3.618 FIB Extension range seen on my chart.
3-Day TF WITHOUT indicators:
3-Day TF "WITH" Indicators:
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