Slightly time sensitive. Price action on the above daily chart has price action miles outside the Bollinger Band. It is a fact to say 95% of all candles print inside the band. That’s a 10% correction at least to 340.
You have to go all the way back to August 2004 to see price action gap so much on the daily chart. That time it was from 1.20 to 80 cents.
Ww
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From 395 if you can get it.
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Dang, 30 cents off from from filling a short position. Come on bulls, going to infinity and beyond, din't you get the memo??
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Full Transparency, short position now opened. Probability of downside is a whopping 86%.
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About to be stopped out given the futures market. That's risk management.
Price action is forecast to be 4 standard deviations outside the BB. Don't recall see this behaviour in any asset class, even Crypto currency, nothing this far out the band.
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Stop not yet reached, 2nd position opened. The outside of the BB became support, proper melt up!
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** Education ** Price action is entering the BB. How to trade this? IF price action closes inside the band today, price action will travel back to the mean, statistically speaking, with a high degree of probability. That is a 20% correction from current levels.
1-day
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The candle did indeed close inside the band. Therefore 'short' positions can be left open until 320, in the first instance.
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Price action has entered the BB on the 2-day. If you look left over the last 20 years when this is happened there was never one instance when price action moved back up afterwards until the mean was tested, currently around 315. This really is the easiest short position you'll likely ever see with such low risk.
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Doubling down on this one. Make that a triple.
Trade closed: stop reached
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Stopped out for the 2nd time. Not playing anymore!