Pay Close Attention to White Energy in 24h & Red RSI in 2-Day TF
Read the text bubbles... I'll follow up with a video publication later on in the wee hours of the morning Central Time in the U.S.
Happy Trading and Stay Awesome!
David
Happy Trading and Stay Awesome!
David
코멘트:
If you are thinking of going margin long right now, you should think against it at the moment. However, if you do go margin long, PLEASE have a stop loss in place to keep losses small and gains large. I would feel much more comfortable taking a margin long position "IF" the Red RSI in the 2-Day TF can "CLOSE" at or above 56 percent.
코멘트:
Also keep the following in mind: If the Red RSI manages to "CLOSE" at or above 56 percent in the 2-Day TF, we may still see a BRIEF pullback before potentially continuing up. WHY? Because the White Energy in the 3-Day TF may reach exhaustion the NEXT 3-Day Candle. You MUST realize the Red RSI in the 3-Day TF is "NOT" at or above 56 percent. Which means the very moment the White Energy exhausts in the 3-Day by turning back down, THE PRICE ACTION WILL COME DOWN WITH THE WHITE ENERGY IN THE 3-DAY TIME FRAME. However, WHEN the price action does come down, I'm not anticipating a lower low. I'm actually anticipating a HIGHER LOW before continuing up with a more sustained period of upward pressure. Market Makers (Composite Groups) may want to shake out some margin longs (IF THEY CAN) before going up with a more sustained period of upward pressure until the last week of May to first week of June, 2020.
Here is the BitFinex Margin Shorts (Middle) and Margin Longs (Bottom). BTCUSD is up top.
Here is the BitFinex Margin Shorts (Middle) and Margin Longs (Bottom). BTCUSD is up top.
코멘트:
Some are complaining about the text bubbles in the cover chart being too hard to read. This is WHY I posted that chart AGAIN in my personal comments so you CAN read the text bubbles.
코멘트:
In case you are wondering... Yes, we are CURRENTLY experiencing UPWARD pressure AS LONG AS the White Energy in the Daily (24h) Time Frame remains above 50% level. Does this mean the price action must go up during this period of upward pressure? NO... It can hangout sideways during this period of upward pressure and then decide to drop once the white energy in the Daily (24h) crosses below the 50% level.
It's also IMPORTANT to keep an eye on the Red RSI in the 2-Day Time Frame. WHY??? If the Red RSI in the 2-Day TF manages to "CLOSE" at or above 56 percent, we will IGNORE the white energy in the 24h and move our focus to the WHITE ENERGY IN THE 2-DAY TIME FRAME.
If the Red RSI in the 2-Day TF manages to "CLOSE" at or above 56 percent, one can feel a bit more confident taking a margin long position ON LOW LEVERAGE WITH A STOP LOSS.
It's also IMPORTANT to keep an eye on the Red RSI in the 2-Day Time Frame. WHY??? If the Red RSI in the 2-Day TF manages to "CLOSE" at or above 56 percent, we will IGNORE the white energy in the 24h and move our focus to the WHITE ENERGY IN THE 2-DAY TIME FRAME.
If the Red RSI in the 2-Day TF manages to "CLOSE" at or above 56 percent, one can feel a bit more confident taking a margin long position ON LOW LEVERAGE WITH A STOP LOSS.
코멘트:
I've posted this already... Just wanted to emphasize once again that the White Energy in the Daily (24 hour) time frame has actually moved UP rather than down after posting this video. Which means we continue to experience upward pressure until the White Energy comes down to hit the 50 percent level.
코멘트:
Update with the Daily (24h) on the left and 2-Day TF on the right...
코멘트:
The 3-Day Time Frame:
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