It appears that indeed WLD is not yet in retracement.. The double-top we saw before was as curvy as the average South African female, so, in retrospect, it makes perfect sense that it wasn't done and I should not have set such a deep target on that short.
There's good news, however, because I know where it's headed, and that TP will yield a greater return than the short, plus, when eventually it does come down, you'll be shorting from a much higher entry, down to around the same original target, so the profit will more than make up for any inconvenience caused..
Gawd knows, the last thing in the world I want to do is cause you inconvenience.. Imagine the outrage!
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TP ~$11.00
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URGENT UPDATE:
It's just completed the marker I'd expected a little lower.. I'm not screwing around on this, so if you don't believe me, at least close the trade if you're long..
It's all downhill like your mother after adding a 5th child to the family.. Bless her heart..
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Now you can short it.. Enter at the level indicated.
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// Important update on my WLD chart. // Exclusive for traders eager to learn to scalp // Find the Target price.
@Afterbite That's not helpful, that's hopeful.. Will sit and wait for it to happen so you can tell people you trade crypto?
Kurosh2023
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are u sure? active yet? 7.45
Rebelmedia
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@Kurosh2023, This is the future telling business.. Nothing is ever entirely sure.. We do the best with the information available at any given time.. Currently it has not yet done anything that confirms it will move higher, but it can go either way.. Depending on your position/entry, if you're close to entry level, maybe scale it down by 50% so that the loss is not complete and there's still the possibility of recovery from the remaining 50% if it does go down..
See the green circles.. It created a double top before, which is the signal I called.. There was a thought that it was not aggressive enough (too round) and that it may still be heading up, shortly after I posted, but it was just a hunch. Best guess is that this is the sharp leg on a double top, but that leaves a few loose ends that don't quite square the theory, such as, why would it make such a slow dbl-top after such a little run? To understand what I mean, it's important to always frame any chart movement in light of the fractal law.. A really slow double top/bottom happens because it's supposed to make visual sense (fractal) on a bigger timescale.. The other big factor is to compare it with whatever BTC's doing.. My top for it is ~$56400, which means there at least one last run in the chamber, and since it's the last of the trend, it's likely to be aggressive..
There are rarely perfect entries.. If there are perfect signals, then most likely they aren't being traded from the entry, so traders act on the signal only when they feel it's safe enough to do so, which, as we see here, can put you in an even worse position that will likely become my fault in the end.. No matter.. You're right to have asked, so I hope this has some value in explaining a little.. To fully get what I'm talking about, we'd need more time and a lot of me talking.. I know, right.. Nobody likes that prospect..
I am thinking of offering a training course to try and squeeze a decade's research into a few hours worth of insights that will all be supported with examples, considerations, how to trade different positions, best practice tips gained from many, many liquidations and other interesting things your grandmother will happily give her dentures to hear..
My advice: Get out.. Wait for the signal proper.. It will be a very quick, significantly larger candle than its neighbors.. You'll know it when you see it.. Then look for confirmation, and start entering short by taking small bites.. In my country there's a saying: "With violence, you can break off your own finger in your as5.." Not sure it's ever been very big on imparting wisdom, but it makes my point clearly enough..