Since the market is so choppy and almost killed every scalping's profit, I am going to long this daily confluence.
Daily doji + 6 indicators bottoming,
If it goes below 8.5k, I will close my longs.
If this go down, I need to rebuild the whole trading system from scratch.
Since I realized that the momentum analysis fails these days, I am looking for something more solid.
I will add more cycle patterns on my website:
a. The chart above showing 5 bars up 4 bars down
I assumed the sixth bar will take this...
This is not a prediction or a trading advice, please take your own risk during trading.
Like any other traders, I saw two huge wicks on the weekly candle, which can be interpreted as a bearish candle. And a lot of people shorted it all the way from 14k to 10k. I think they are excellent to spot that. But there are several things bothering me: