today is looking pretty ripe for potentially high volatility. While a downside makes more intuitive sense, there's little reasoning to back up the play other than a good risk to reward ratio and a sustained long term structure.
Today, I go over the relevant trend defining pivots and the new targets that would appear if they were broken. There's high potential energy and an upward weighting for trend direction, all and all it's a fantastic chart!
Market gapped up on G20 news and we finally got to (and past) the 2950 area we were talking about from last week. This is why patience is important because the market doesn't care about your timeframe, but it was easy to get out of the long last week and if you did, you would have missed the move higher.
That said, I only caught a portion of it because I was not...
Hope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
Fibonacci patterns of support are holding this market as a bullish pattern. The internal momentum is weak and not being applied to any direction, so I am watching the near-term support and resistance i laid out on the chart as points of interest moving forward.
Today I go over some advanced mass readings and define some excellent ways BTC has been faking us out these past few weeks.
The readings I'm getting make for some choppy trading, I am more inclined to take smaller position sizes until trend clearly defines itself.