Evening everyone. I’m trying something different for today’s post. Lots of emotion out there after BTC’s 40% correction and following consolidation. My last trade went well (posted in last idea) because I followed my heartless indicators instead of all the noise that was calling for another drop, revisiting old lows, or saying the bear market wasn’t over.
If you’re convinced we’re in a bull or bear market already, stop reading now. If you don’t have a tool to decide for yourself, check this one out and see if you like it. If you have a better one, share it below.
Here it is…the same indicator that is the foundation of my trading system. This isn’t my own idea – found it on a YouTube trading channel. RSI, take periods from 14 to 5, levels to 51/49 to make a line in the middle.
It’s also useful for the big picture. Here’s a weekly RSI going back to 2014. Notice the 14-15 bear market hung out below the mid-line for the most part and bounced off the 20 level a few times. Then the bull market that bounced off the 90’s regularly and the lows weren’t very low. Then a bear market…similar, albeit shorter. Now look at the evidence we have so far in 2019.
Could it be a fake out before the REAL bear market begins? Sure. Could we retest winter lows? Sure. Anything is possible, but those don’t seem probable given the evidence at hand. The case is only made stronger by price action when the up impulses are longer and stronger than the down impulses. Opposite of 2018.
Make your mind up for yourself based on the best evidence you can find. Don’t let sh*t posters on here toy with your emotions. I recommend some heartless indicators that take your Labrador brain out of the equation.
If you’re convinced we’re in a bull or bear market already, stop reading now. If you don’t have a tool to decide for yourself, check this one out and see if you like it. If you have a better one, share it below.
Here it is…the same indicator that is the foundation of my trading system. This isn’t my own idea – found it on a YouTube trading channel. RSI, take periods from 14 to 5, levels to 51/49 to make a line in the middle.
It’s also useful for the big picture. Here’s a weekly RSI going back to 2014. Notice the 14-15 bear market hung out below the mid-line for the most part and bounced off the 20 level a few times. Then the bull market that bounced off the 90’s regularly and the lows weren’t very low. Then a bear market…similar, albeit shorter. Now look at the evidence we have so far in 2019.
Could it be a fake out before the REAL bear market begins? Sure. Could we retest winter lows? Sure. Anything is possible, but those don’t seem probable given the evidence at hand. The case is only made stronger by price action when the up impulses are longer and stronger than the down impulses. Opposite of 2018.
Make your mind up for yourself based on the best evidence you can find. Don’t let sh*t posters on here toy with your emotions. I recommend some heartless indicators that take your Labrador brain out of the equation.