We've followed major capitulations/reversals before such as April capitulation of 2013, July reversals for 2013 and 2017, September capitulations in 2013 & 2017, reversals in October of 2013 & 2017.
Will the November 9th capitulation be any different? I'm going to say probably not. I expect a 'scam-wick' down to anywhere from 56k to 47k before we finally make a...
Quick update on the previous post that got stopped out ~60k on Oct. 27
We may be on an impulse wave 3 uptrend to 70k, but a breakout is not confirmed given the fact that:
Price is still in downward parallel channel
Hull MA hasn't crossed over to green
Price hasn't crossed over the bearish trend of the Hull MA
MACD hasn't crossed over yet
Once at least...
I think this could be a long trap followed by a bear trap. I'm not saying it will happen and it doesn't have to happen, but if it does, I will watching to long the next capitulation or scam wick.
BASICLY A SCAM WICK IS DESIGNED AND PERPERTRATED BY LEVERAGE TRADING EXCHANGES TO KNOCK YOU OUT OF YOUR TRADING POSITION BY LIQUIDATION, SO LESSION IS TO NOT USE ANY HIGHER LEVERAGE THEN 10x OR U CHANCE BEING REKT!
What's up, my nerd #dizzles?
lol i don't know which side we break from this triangle, i am short from 7700 my stops are moved to profit in 7650, see those wicks on both side?? hence i don't know, only thing i know are the targets, once we break & close above the trendline that is when you should enter the trade, either Long or a short
