ETHGBP 06 AUG 2022 (follow up from June 10 2022)
Hit the target area and behaved as expected (generally). Currently in a counter-trend situation but would reconsider any long entry at this point... It already too high.
It took 2 months to materialise from the original projection. But the key takeaway is that you want to wait for prices to reach significant previous demand zones (if planning long entry) or, previous significant supply zones (if planning shirt).
Most of us make the mistake of jumping in when it is already well into the "green" profit zone. This is a clever market psyop or way to draw retail traders in. When price is green, its generally too late. You want to ALWAYS wait for the price to come to you and not the other way around. The more patient you are, the more you will win.
Patience is the most difficult skill to develop in trading, hands down. Its not even about what metrhod you choose to use. Many methods work, if you can wait. But if you follow my work you know my bias. I stand by volume analysis and Wyckoff methodology as superior to all methods but that does not mean others do not work. You just need to practice whatever method makes sense to you.
It took 2 months to materialise from the original projection. But the key takeaway is that you want to wait for prices to reach significant previous demand zones (if planning long entry) or, previous significant supply zones (if planning shirt).
Most of us make the mistake of jumping in when it is already well into the "green" profit zone. This is a clever market psyop or way to draw retail traders in. When price is green, its generally too late. You want to ALWAYS wait for the price to come to you and not the other way around. The more patient you are, the more you will win.
Patience is the most difficult skill to develop in trading, hands down. Its not even about what metrhod you choose to use. Many methods work, if you can wait. But if you follow my work you know my bias. I stand by volume analysis and Wyckoff methodology as superior to all methods but that does not mean others do not work. You just need to practice whatever method makes sense to you.
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