Keeping it short and sweet. Here is my anticipated PA for 12/15-12/17. When these FOMO buy retards give up we'll probably finally get a bounce. (Note reversal down is off previous support and trendline.)
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I was just thinking how price is like a pendulum. Constantly moving back and forth between support and resistance. That principle of moving back and forth I think is key for scalping and swings. If you're not basing your trades-at least partially- on S&R you're wrong.
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Update BTC:
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A magnet, pivot, retracement they're all the same or similar. It's almost like certain levels become magnet levels. Magnets often "tap" several times after which they sort of lose connection and another magnet becomes more interesting. Another thing about magnets is they're often a reversal point for price and thus good for taking profits depending on your R and R etc.
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Damn my assumptions are reasonable...
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The stop run at the top was a nice touch.
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17th or 18th potential retest of range high.
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Strictly science.
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Teh future...
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I need a foot rub. Too bad all the women in my village caught the plague.
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I remember where I found my first bitcoin. Among the seashells by the sea,
and out of the guts of a great big fish
a bitcoin glimmered in the light.
Since then it's been shit trading but i get lucky every now and then. =-D
and out of the guts of a great big fish
a bitcoin glimmered in the light.
Since then it's been shit trading but i get lucky every now and then. =-D
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Three things I recommend for my "calls,"
1) Do not trade based on them.
2) Do not trade against them.
3) Evaluate the setup based on the chart and never let your ego influence your bias.
1) Do not trade based on them.
2) Do not trade against them.
3) Evaluate the setup based on the chart and never let your ego influence your bias.
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Timing entries is huge. One of the advantages of groups or signals I guess. You just need to differentiate between appearances and what is really happening in a fast moving dynamic market. Appearances are what if you ask an idiot to tell you what they think the market will do. Reality is where the big players are going to take the dumb players money which under fair terms the dumb money does. Dumb money gets an adrenaline rush and the cycle repeats again and again.
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The flow from dumb to smart money...
My most profitable trades are when I spot traps and do what the smart money is doing.
My most profitable trades are when I spot traps and do what the smart money is doing.