Looking for that 9 on the NANO daily

This idea is about using the Tom Demark Sequential indicator to time a bottom for an excellent entry on a chart.

Here we see that Nano has completed one full TDS 9 count to the downside with a small correction that never flipped the count to green 1. The price is currently around completing a full retrace from the highs achieved in the initial run up from listing. This sets up an interesting scenario where traders who are entering here to buy the 'bottom' exit thier positions if the price breaks down to new lows setting up the completion of this second TDS 9 count.

In this case the breakdown would be significant and the entry would be deep in a 9 candle ranging to the downside as the selling frenzy is completed and the price rebounds to find resistance overhead.

Setting an alert on the TDS indicator for the appearance on a daily 9 buy candle and timing the entry precisely from the 4H chart could lead to immediate rewards.

Idea is invalidated if the count is broken before reaching a 9 on this cycle.

Comment:

So today we have a daily 9 buy candle printed as the price sits on support at the all time low on this chart. Any breakdown from here will trigger a capitulation in the price as the last wave of dip buyers exit their positions and take losses. Tagging the exact bottom is almost impossible, so the idea here is to buy in small amounts (5% of allocation) as the capitulation develops from around 5700 and down.

At some point, likely today according to the TDS indicator, the selling impulse will be exhausted and the price will rebound sharply to form a long wicked reversal candle as buyers dominate the price action with thin liquidity. The initial target to the upside is a breakeven stop after which the position must re-evaluated on a new chart.