the virtue of just waiting

26 янв. 2021 г.

I know that so many people are just shouting for short or long. but i think at times like this, the best strategy would be to wait for the trend to give us a clue. in higher time frames there is a lot of downward pressure but in lower time frames there are mixed signals. this is the best time for scalping, but if you are thinking for long time investment, it's better to wait.
i think we are moving within a falling wedge which in case of a breakout, we would be able to touch recent highs around 42 which coincides with upper BB on daily too, and considering that there has been a failed attempt to cross up the mid line of BB, this seems the most likely scenario if we bounce back from the lower band once again and touch the mid line; but as you all know, drawing trend-lines is a matter of art and for example the falling wedge that i have drawn on my chart, could be drawn in a way that it resembles a descending triangle which tells a totally different story and would have a target at around 21-22 K; so i think it would be better to start scalping in this volatile times and when the trend makes it's decision jump in.