Bulls and bear are fighting over the yellow line on my chart. That yellow line is the 50 fib.
Keep it simple: price below that yellow line means bears are in control.
Price above that yellow line means bulls are control.
Do NOT long in bear territory. Do NOT short in bull territory.
This is a close match. I could say I am neutral, but I have a rule. The rule is below the 50 fib bears are in control. Sticking to a set of rules gives us the advantage over a period of time. Make your rules, and stick with them. If they are not working, find ones that will, and stick to those. If/when those stop working, move on to find new ones and stick with those. In other words, have rules, but adapt them to the environment the market is in at the time.
Keep it simple: price below that yellow line means bears are in control.
Price above that yellow line means bulls are control.
Do NOT long in bear territory. Do NOT short in bull territory.
This is a close match. I could say I am neutral, but I have a rule. The rule is below the 50 fib bears are in control. Sticking to a set of rules gives us the advantage over a period of time. Make your rules, and stick with them. If they are not working, find ones that will, and stick to those. If/when those stop working, move on to find new ones and stick with those. In other words, have rules, but adapt them to the environment the market is in at the time.
Comment:
Got that nice move to the downside with bitcoin taking out September's low.