I took 50 buck and made 5k as a challenge by a client.
But I said this market here is running on 3...
Anyway the problem that traders encounter is they don’t filter out trade. They trade anything that respects their strategy.
I’m selective not on what I see but when I see it .. and I try; to stay out the middle WHY? The middle is just that! The middle 😂.
So here I’ll just wait for price to roll up on the extremes and buy or sell it based off what it do it can be that simple ppl don’t realize that price either going to be juiced or exhausted when it get to these limits many times if its meant to take out the extreme there will be a range near to catch price and push it back up
The psychology part here that I do is simple
Notice how’s price has the upper wick but a long body
Notice how it’s close to the midline trendline
9/10 it’s pulling back to attempt to get on the other side of the middle cus it’s close to it. And creating a fake sale to lure retail traders in. Price has agenda! It didn’t come from the low up for nothing! Put what are traders doing they are selling it, WHY? I bet 10/10 it’s pulling back on some time of trendline support or showing divergence or something on a macd anything to convince them to short the market lol 😂. When price has a agenda to get back on the other side. The other side is the extreme ! Simple I’ll just watch all the action here on the weekly chart and when I see the candle start pulling up I’ll go and enter or I’ll wait for it to fail or make it successfully on the other side and then I’ll enter! So when I see candles like this just selling off without an attempt at the extreme I know traders are taking the bait and I’ll just go and buy and hit those sl 😺.
But I said this market here is running on 3...
Anyway the problem that traders encounter is they don’t filter out trade. They trade anything that respects their strategy.
I’m selective not on what I see but when I see it .. and I try; to stay out the middle WHY? The middle is just that! The middle 😂.
So here I’ll just wait for price to roll up on the extremes and buy or sell it based off what it do it can be that simple ppl don’t realize that price either going to be juiced or exhausted when it get to these limits many times if its meant to take out the extreme there will be a range near to catch price and push it back up
The psychology part here that I do is simple
Notice how’s price has the upper wick but a long body
Notice how it’s close to the midline trendline
9/10 it’s pulling back to attempt to get on the other side of the middle cus it’s close to it. And creating a fake sale to lure retail traders in. Price has agenda! It didn’t come from the low up for nothing! Put what are traders doing they are selling it, WHY? I bet 10/10 it’s pulling back on some time of trendline support or showing divergence or something on a macd anything to convince them to short the market lol 😂. When price has a agenda to get back on the other side. The other side is the extreme ! Simple I’ll just watch all the action here on the weekly chart and when I see the candle start pulling up I’ll go and enter or I’ll wait for it to fail or make it successfully on the other side and then I’ll enter! So when I see candles like this just selling off without an attempt at the extreme I know traders are taking the bait and I’ll just go and buy and hit those sl 😺.