This raises the question, have I gone too far?
Another possibility is it might just go straight to 824, or go sideways.
Trying to guess every little move can bring on madness. It's best to wait for the right set up.
- Buy low, sell high. Selling at a low, and buying at a high is a good way to lose money.
- Avoid making rash decisions, yet at the same time be prepared to buy high, or sell low if the price is beginning to trend in that given direction and has potential. Wait for a low risk area so that you can enter.
- Determine what is the very low and the very...
I see that it rallied upward, then ran out of steam due to people becoming scared to buy (in a bearish market this behavior is common, it contributes to very oversold markets). Yet at the same time, people weren't eagerly selling, it could have broken out downward a lot earlier if the market was more bearish. Also it appears to have been broken by single large...
ASCII Art on Trading View chart - - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- - -
Annie Hastur & Tibbers from League of Legends game.
Source of image: aoinhatsu.deviantart.com
I will retrain from publishing more of these, but I thought it would be interesting to see at least once.
It has been a rushed climb from ~290 to 427+. This rise is unsustainable at this point. It has missed its chance at a correction and consolidation and must crash soon. The highest I think it can go is ~435. ~460 at most (drew the Fibo target levels slightly off).
Okay, so you realize that everything is collapsing, and you want to know when to buy and when to sell. This is roughly what happens:
First it will fall to the Fibo target, bounce back up to 50% of the fall then continue back down to make a lower low. It will then climb up to 60% of the initial fall before going down again to the lower low. It will either bounce...
Before the top there will be a fake out, then it will push a little higher. That is the top. It will usually be a bit before a strong resistance, like 400. This is only one type of top. Another type is where it starts accelerating faster and faster until at the top it starts to behave sluggish and out of steam like the fall before this one.
The bullish tops...
*To 670. 364 profit, 15 risk.
"Objective must be weighed against methods. If the goal is worthy, then the steps taken are worthwhile, even if some of them--on their own--are reprehensible."
Some errors with the chart (as it was rushed): Random trend line, Fibonacci retracement targets pointing downward (they should only be above from a downward move), bad choice...