With the ATR rocketing double it's value in the past 24 hours and the closing price pushing above the 2x Keltner Channel and still no concrete Resistance Levels confirmed to bounce off from with Supports in left in the dust ... Today is a good moment to kick back, let shit go down without risking anything! 😊
I use a method of measuring from an MA to a Hi or Lo on the 4H chart to get a probability of direction volatile market as well as false breakouts. In the past 65 days the Hi price deviated notably 3 times with an average of 2.45%, as from now we are already at 2.95%, the highest breakout since 14th April that is from the MA50. (This is just data to give relative indications and not part of a strategy, use at own risk)
looking at the variables a short term correction is imminent. I will wait for a solid Resistance I believe to be trending on the 4H chart and set my eyes short toward the lowest support at S1. I would like the volatility to drop somewhat before I enter the market.
Trade cautiously (or courageously) and prosper 🖖
I use a method of measuring from an MA to a Hi or Lo on the 4H chart to get a probability of direction volatile market as well as false breakouts. In the past 65 days the Hi price deviated notably 3 times with an average of 2.45%, as from now we are already at 2.95%, the highest breakout since 14th April that is from the MA50. (This is just data to give relative indications and not part of a strategy, use at own risk)
looking at the variables a short term correction is imminent. I will wait for a solid Resistance I believe to be trending on the 4H chart and set my eyes short toward the lowest support at S1. I would like the volatility to drop somewhat before I enter the market.
Trade cautiously (or courageously) and prosper 🖖