BTCUSD: Upward Pressure May Continue in 6h Till 3-Day 'CLOSE.'
Hi Everyone! Looks like upward pressure may continue in the 6h time frame at least until the 3-Day candle closes in approximately 17 hours. Where that takes the price action is hard to say. Yes, I placed a LOCAL Fib Extension in the 6h chart with a 1.618 Fib Extension putting us inside my Long Term 2.618 Fib Extension inside the lower $40K's. However, I'm one who only see's Fib Extensions as "targets" and prefer to focus more on when the indicators say we are done than assume the Fib Extension target decides when we are done.
Please pardon if I have led people astray by not EMPHASIZING the IMPORTANCE of NOT drawing a "conclusion" until the current 2-Day and 3-Day candle CLOSES. I "normally" do EMPHASIZE that and SHOULD have continued to EMPHASIZE that fact somehow when deciding what I'm going to put in the TITLE of my publications.
DO NOT ASSUME I'm saying the price action is going up to the lower $40K's as though it's a flat statement. I'm NOT saying that as a matter of fact. I've learned to be careful not to make bold/flat statements like that. Especially, when other traders money is at stake. What's IMPORTANT is to place our emphasis on what the indicators are telling us at any given time for the TYPE -OR- MULTIPLE TYPES of trading we are doing at any given time.
I'm honestly doing my method an injustice by not providing the following signals and updating those signals on a consistent basis (every 2 to 8 hours as necessary according potential changes in the indicators):
Scalping Group of Time Frames: 6min. 12min. 23min. and 45min.
Short Term Group of Time Frames: 90min. 3hr. 6hr. and 12hr.
Near Term Group of Time Frames: 24hr. 2-Day, 3-Day and 4-Day
Mid Term Group of Time Frames: 3-Day, 6-Day, 9-Day and 12-Day
Long Term Group of Time Frames: 1-Week, 2-Week, 3-Week and 4-Week
Macro Cycle Group of Time Frames: 1-Month, 2-Month, 3-Month and 4-Month (Some assets do not have enough data for this group for the indicator to populate)
Keeping signals updated CONSTANTLY (Every 2 to 8 hours) for those groups is IMPORTANT for everyone involved when involved in only one of TYPE of trading or even ALL TYPES of trading (Lion Trader).
CLARIFICATION: There comes a time in which we need to sleep. Which means we will not be constantly trading the "Scalping Group of Time Frames" in order to get proper rest. Which is why I intend on performing the majority of my "Scalping" on FOREX during the work week (Monday through Friday).
I'll stop rambling...
Happy Trading and Stay Awesome!
Please pardon if I have led people astray by not EMPHASIZING the IMPORTANCE of NOT drawing a "conclusion" until the current 2-Day and 3-Day candle CLOSES. I "normally" do EMPHASIZE that and SHOULD have continued to EMPHASIZE that fact somehow when deciding what I'm going to put in the TITLE of my publications.
DO NOT ASSUME I'm saying the price action is going up to the lower $40K's as though it's a flat statement. I'm NOT saying that as a matter of fact. I've learned to be careful not to make bold/flat statements like that. Especially, when other traders money is at stake. What's IMPORTANT is to place our emphasis on what the indicators are telling us at any given time for the TYPE -OR- MULTIPLE TYPES of trading we are doing at any given time.
I'm honestly doing my method an injustice by not providing the following signals and updating those signals on a consistent basis (every 2 to 8 hours as necessary according potential changes in the indicators):
Scalping Group of Time Frames: 6min. 12min. 23min. and 45min.
Short Term Group of Time Frames: 90min. 3hr. 6hr. and 12hr.
Near Term Group of Time Frames: 24hr. 2-Day, 3-Day and 4-Day
Mid Term Group of Time Frames: 3-Day, 6-Day, 9-Day and 12-Day
Long Term Group of Time Frames: 1-Week, 2-Week, 3-Week and 4-Week
Macro Cycle Group of Time Frames: 1-Month, 2-Month, 3-Month and 4-Month (Some assets do not have enough data for this group for the indicator to populate)
Keeping signals updated CONSTANTLY (Every 2 to 8 hours) for those groups is IMPORTANT for everyone involved when involved in only one of TYPE of trading or even ALL TYPES of trading (Lion Trader).
CLARIFICATION: There comes a time in which we need to sleep. Which means we will not be constantly trading the "Scalping Group of Time Frames" in order to get proper rest. Which is why I intend on performing the majority of my "Scalping" on FOREX during the work week (Monday through Friday).
I'll stop rambling...
Happy Trading and Stay Awesome!
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Comentarios:
UPDATE:
Of course, we see upward pressure continuing in our 12h TF now. Upward pressure should continue at least until the White Energy comes down to level 50 in the 12h.
Of course, we see upward pressure continuing in our 12h TF now. Upward pressure should continue at least until the White Energy comes down to level 50 in the 12h.