Been gone for a little while, had to take a break, and i took some pretty heave losses so had to re-evaluate my whole trading philosophy. Also, decided to look at fewer charts but in more detail. Realised that trying to trade multiple coins at once is like playing 15 poker hands at once whilst trying to get to grip with the basics.
For now, im gonna keep it super simple with just S/R stuff. Hoping to add other "studies" to my analysis over time to identify confluences.
At the moment, we're at a very active level and appear to have gotten rejected at 3D bear block, but because of how active this level is, you could draw it as a 3D breaker or even weekly block. This wouldve also been a pretty good short entry for the bears out there
If we carry on going up, another potential bear entry can be around 96xx-99xx
For the bulls, should be looking for entry on retrace so your entry will likely depend on how low you think we will retrace. I see following options:
Weekly higher low retrace (assuming weekly temporary top set) -
(lines up nicely with previous resistance that has not yet been tested as support)
Daily (higher risk, betting on continuation) -
(again, previous resistance that has not yet been tested as support)
For now, im gonna keep it super simple with just S/R stuff. Hoping to add other "studies" to my analysis over time to identify confluences.
At the moment, we're at a very active level and appear to have gotten rejected at 3D bear block, but because of how active this level is, you could draw it as a 3D breaker or even weekly block. This wouldve also been a pretty good short entry for the bears out there
If we carry on going up, another potential bear entry can be around 96xx-99xx
For the bulls, should be looking for entry on retrace so your entry will likely depend on how low you think we will retrace. I see following options:
Weekly higher low retrace (assuming weekly temporary top set) -
Daily (higher risk, betting on continuation) -