BTC/USD ON DOWNTREND SINCE BEGINNING OF MONTH!!!!!!
WHAT DOES THE CHART TELL US?
1. PRICE CONSOLIDATED for a little and decided to hit the floor
2. PRICE CONSOLIDATED ( creating a base ) then EXPANDED ( breakout downwards )
3. PRICE IS WHAT?! You guessed it... CONSOLIDATING ( creating another base, waiting for traders ( buyers and sellers ) to make up their mind and choose a direction.
WHATS THE PLAN?
1. ULTIMATELY GO ON A SMALLER TIME FRAME AND FIND A SWEET SHORT POSITION
2. WATCH the CONSOLIDATION PHASE ( BASE ) to see how long, how far up and down price moves until a confirmation is seen and then PREDICT your PRICE ACTION and hopefully you guessed it right.
3. Until then we will zoom in on a smaller time frame to find short position opportunities. Thats the PLAN..... to SHORT but the news can change your plans quicker than a rainy day when thoughts of going to the beach. PRICE CAN and WILL do what it want when it wants so ALWAYS be prepared for it to pivot in the opposite direction to take your money to the other trader pocket who will only have it for a brief moment as well.
we actually want to keep the money the stocks take from other traders.
WHAT DOES THE CHART TELL US?
1. PRICE CONSOLIDATED for a little and decided to hit the floor
2. PRICE CONSOLIDATED ( creating a base ) then EXPANDED ( breakout downwards )
3. PRICE IS WHAT?! You guessed it... CONSOLIDATING ( creating another base, waiting for traders ( buyers and sellers ) to make up their mind and choose a direction.
WHATS THE PLAN?
1. ULTIMATELY GO ON A SMALLER TIME FRAME AND FIND A SWEET SHORT POSITION
2. WATCH the CONSOLIDATION PHASE ( BASE ) to see how long, how far up and down price moves until a confirmation is seen and then PREDICT your PRICE ACTION and hopefully you guessed it right.
3. Until then we will zoom in on a smaller time frame to find short position opportunities. Thats the PLAN..... to SHORT but the news can change your plans quicker than a rainy day when thoughts of going to the beach. PRICE CAN and WILL do what it want when it wants so ALWAYS be prepared for it to pivot in the opposite direction to take your money to the other trader pocket who will only have it for a brief moment as well.
we actually want to keep the money the stocks take from other traders.
