BTC 9/6 update - LET PRICE AND VOLUME SHOW YOU THE WAY
Ok guys, we have had some impulsive moves here.
We DO NOT get into trades until we see consolidation areas AFTER impulsive moves. Since we do NOT know which area price will consolidate towards, we are neither long or short at the time being. We want price and low (but heightened) volume to give us an idea of what position to take.
We have THREE different scenarios here:
-Scenario 1: Price retraces the move back up, we get into another area of consolidation on LOW but "heightened" volume (or I like to call it, "aggravated" volume - the volume indicator I have gives you a REALLY clear visual of this). This gives us a premise to short back down and wait for another area of consolidation and aggravated volume where we can TP and think about taking the opposite position.
-Scenario 2: Price moves back down and consolidates. Again, waiting for this aggravated volume profile to show up before we make a long call.
-Scenario 3: Similar to scenario 2... General theory is that consolidation zone in scenario 2 fails to give us this area of low but heightened volume and price drops to the next support area.
BE PATIENT. Don't get into the habit of chasing price on impulse. You are GAMBLING, and the house always wins in the long term if you're doing this.
Do NOT get into a position yet. Plan out the possibilities but always let price and volume guide your trades AFTER impulsive moves like we have just had.
Yes - chart is on 15 min to show you these quick moves up and down. Typically I don't favor trading on 15 min charts, but it does give you an idea
We DO NOT get into trades until we see consolidation areas AFTER impulsive moves. Since we do NOT know which area price will consolidate towards, we are neither long or short at the time being. We want price and low (but heightened) volume to give us an idea of what position to take.
We have THREE different scenarios here:
-Scenario 1: Price retraces the move back up, we get into another area of consolidation on LOW but "heightened" volume (or I like to call it, "aggravated" volume - the volume indicator I have gives you a REALLY clear visual of this). This gives us a premise to short back down and wait for another area of consolidation and aggravated volume where we can TP and think about taking the opposite position.
-Scenario 2: Price moves back down and consolidates. Again, waiting for this aggravated volume profile to show up before we make a long call.
-Scenario 3: Similar to scenario 2... General theory is that consolidation zone in scenario 2 fails to give us this area of low but heightened volume and price drops to the next support area.
BE PATIENT. Don't get into the habit of chasing price on impulse. You are GAMBLING, and the house always wins in the long term if you're doing this.
Do NOT get into a position yet. Plan out the possibilities but always let price and volume guide your trades AFTER impulsive moves like we have just had.
Yes - chart is on 15 min to show you these quick moves up and down. Typically I don't favor trading on 15 min charts, but it does give you an idea
Комментарий:
Getting there!
Комментарий:
Ok guys - updated trading plan.... We will be making moves soon.
DO NOT LONG THIS INTO THE EXPECTED CONSOLIDATION AREA - You are looking for a short opportunity for now.