We should expect of the next few hours for another little bump then dump once more to around $78 before beginning the "October Spring" to our End of December to Early January Dump.
Just to "emphasize..." I'm NOT LONG YET till $75 to $78.
Some, may believe we have reached bottom now and it's a good time to get in. If that's what one believes, one can get in now and simply wait. Or, one can buy a little here and wait to see if it goes lower to buy the rest on one more potential dip I'm speaking of.
Another way to look at it....
Buy now to "short" at $100 or $105 and go long at $75 to $78. Yes, it's gutsy but probable...
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By the way, the yellow scribble was just that; a quick scribble. I wasn't saying it's taking that "exact" route. It would probably be more like the Blue line I just drew here "if" it goes down to $78.90:
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It's beginning to look like they are going to take this to $75 to $78 range within the next 24 hours instead of drawing it out longer. Then we probably have a bounce up then back down to test "support" one last time at $80 range before shooting up hard. Or, it could skip that part all together and just go up hard with "no" retest.
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I'm beginning to believe $85 may have been the bottom on this 360m TF.
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Just a long term outlook towards December 31, 2017. Also pointed out $175.80 target no later than October 31, 2017. If we do not meet that target by Oct. 31, the target for December 31 will change.
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If one wonders "why" I'm bullish, it's mainly because of previous trends over the years with what I call "Pump Months" and "Dump Months."
These are the normal Spring/Up Thrust (Pump) Months: April/May and October/November.
These are the normal Major Consolidation (Dump) Months: June/July and December/January.
In particular, the months I listed as "Dump" months means the dump will begin in the later part of the first month mentioned or in the beginning of the second month mentioned after the forward slash (/). For example, the December/January Dump Months means the Dump will begin the later part of December or first part of January.
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A chart with example of Dump Months with one exception in 2015.
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Made an adjustment with my pitchfork:
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By the way, the blue LSMA (32 input) is well below 20% sitting at 8.45%. It has "NEVER" been that low before on the Daily TF. This is a good indicator of it getting very close to time for this baby to go up for a while in a bullish stampede. I placed a BLUE horizontal line within the indicator at 8.45% to show it's never been this low before on the Daily.
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My bad, it didn't copy it. Try again...
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Update on the 4h TF:
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This 12h also shows more "potential" downside. It's important to note; we are getting very very close to the beginning of our Mark Up.
And a look at the Daily. The Ghost on the Daily [Within the indicator at the bottom] shows more "potential" downside. However, the BLUE line is already at 0.0%. This means we are coming close to the end of Supply over powering Demand. Could be [Up to] 20 to 44 hours before Mark Up begins.
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90m, 180m & 360m TF's:
360m, 480m & 540m TF's:
Comments coming shortly.
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It appears from the higher TF's here (720m, 1080m and 1440m) there is still a bit more down to go as well. However, THIS may be the last drop before we begin a Spring.
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33m TF (to the far right) also has the Blue line probably needing to come down more before we see a sign of more upward pressure. Right now we have more downward pressure.
Nothing wrong with selling here if you're "trying" to accumulate more XMR.
Let me emphasize this is XMRUSD. NOT XMRBTC. It may not move not one bit if you trading XMRBTC.
I'm about to look at potential price points.
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At the moment it looks like $76.50 to $80.25 range. Of course, this can change on the fly.
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I'm expecting it to do whatever it's going to do over the next 2 hours.
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3m and 11m TF"s are saying to buy now.
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However, I've found it's important to also pay close attention to a little bit higher TF's than just the 11m and 22m to have an idea of where we're going.
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For example:
The blue line on the TOP indicator in each TF still shows more room to go down.
Let me also say this. $84.00 price point has been stubborn of late. Meaning, it doesn't not want to give it up. Time will tell.
There is no reward with risk. That's why we have stop loss.
Let me also say this. It would have been better to get in on this short at the top of course. It was quite obvious if using the right indicators and staying on top of it.
I've been involved chatting and teaching in a chat room [Not staying on top of XMRUSD the way I should].
I still say it looks like it's going down more even though it doesn't appear so YET.
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Forgot to post the chart. ;-) sorry... lol
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Might want to get back in. SERIOUSLY...
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I say that because of bitcoin going back up and a 1700 BTC buy wall on BitFinex. Not sure if they have any intention of buying. But, that seems to have halted downward movement at the moment.
@SigurdJohansen, It's my opinion it's a sell for now. About to post an update shortly.
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@SigurdJohansen, I'm about to post another comment with price points after that last one with the 720m, 1080m and 1440m.
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@SigurdJohansen, I previously posted it will do whatever it's going to do over the next 2 hours. It may take up to 6 hours.' Have to stay on it.
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@SigurdJohansen, Remind you, this is my "opinion." You're also welcome to gather opinions from any other traders who have posted info on XMRUSD to see what their thoughts are. ;-)
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@SigurdJohansen, I'm going to chill from posting in 'MY" comments section to avoid irritating others who follow me with too many email notifications. I really do like how the following TF's are looking in regards to your question about if it's going down (should you sell).What's good about what I'm seeing in regards to more downside or to indicate more downside? Mainly the 240m TF to the far right has a purple ghost line on the TOP indicator acting like it "exhausted" to the upside and it's coming down."
Also, I have a "red" SELL dot on the "middle" indicator of the 90m AND 120m TF's respectively.