It's hard to say if the next pullback will be a higher low or a lower low. If a lower low, we are looking at the lower boundary of my Aqua Blue Diagonal Channel. The Price Point was also mentioned in the publication. If you begin accumulating now, you may want to hold more cash in reserve for a potential pullback before the Mark-Up likely begins.
評論
⋅
評論
⋅
Keep in mind we may dance around between the lower boundary of the Yellow Diagonal Channel and the lower boundary of the Aqua Blue Diagonal Channel until the last couple of days of September to first week of October before a potential Mark-Up begins. So, you have time (in my opinion) to accumulate on dips seen with the indicators in the 3h, 6h and 12h time frames.
評論
⋅
UPDATE:
Simply copying and pasting a response of mine to a question in comments:
Yes, it's a bit too soon to say with confidence if our next pullback will be a higher low or lower low. This is when we have almost exhausted our limits as a technical analyst and must rely on our abilities as a trader.
We must trust our abilities as an analyst and trade accordingly. At this point, I personally would not be concerned about a stop loss IF I AM BUYING TO ACCUMULATE. I'm NOT talking to the one who seeds to open a margin long position. I'm ONLY talking to the one who is looking for WHEN to buy as much as possible for the purpose of accumulation to sell at a later date at a higher price. By all means, one should use a stop loss if opening a margin long position. If one is opening a margin long position, they should wait till the next pullback and see what the indicators look like.
When utilizing your abilities as a trader for the purpose of accumulation, one should practice dollar cost averaging technique. This basically means one is dividing the capital they wish to invest into a coin by a minimum of eight (8) and scatter six of those eight divisions as buy orders appropriately WHILE holding back the remaining two portions of those divisions in case the price action were to fall substantially lower before we see a reversal to sustained upward pressure. From that point on it will be a waiting game to the next top before consolidating again.
Should we begin accumulating now? I think so...
Would I allow myself to be stressed out or pissed if the price were to fall down to a lower low instead of a higher low? No, because approximately 20% was held back in the event that were to occur.
Would I allow myself to be stressed out or pissed if the price were to continue going higher and I had to use my remaining 20% to FOMO in buying LINKUSDT? NO... I would not be stressed out or pissed. That was a circumstance I was prepared to deal with because of my willingness to gamble on the price potentially falling to a lower low. I would simply suck it up and be thankful I was able to sell high (Around 19.xx) and buy low at an average price less than 10.xx. I would be super happy a plan came together and look forward to doing it all over again. ; )
David I cannot fathom your generosity, intellect, and humanity. Thank you so much for sharing, for educating, and helping us all attain financial freedom.
Moreover, I was wondering, current price action is at 10.30 about. I know it's likely way to early to tell, but based on the strength of this move up, is the secondary dip still in question?
Thank you! You're very kind to have provided this positive feedback!
Yes, it's a bit too soon to say with confidence if our next pullback will be a higher low or lower low. This is when we have almost exhausted our limits as a technical analyst and must rely on our abilities as a trader.
We must trust our abilities as an analyst and trade accordingly. At this point, I personally would not be concerned about a stop loss IF I AM BUYING TO ACCUMULATE. I'm NOT talking to the one who seeds to open a margin long position. I'm ONLY talking to the one who is looking for WHEN to buy as much as possible for the purpose of accumulation to sell at a later date at a higher price. By all means, one should use a stop loss if opening a margin long position. If one is opening a margin long position, they should wait till the next pullback and see what the indicators look like.
When utilizing your abilities as a trader for the purpose of accumulation, one should practice dollar cost averaging technique. This basically means one is dividing the capital they wish to invest into a coin by a minimum of eight (8) and scatter six of those eight divisions as buy orders appropriately WHILE holding back the remaining two portions of those divisions in case the price action were to fall substantially lower before we see a reversal to sustained upward pressure. From that point on it will be a waiting game to the next top before consolidating again.
Should we begin accumulating now? I think so...
Would I allow myself to be stressed out or pissed if the price were to fall down to a lower low instead of a higher low? No, because approximately 20% was held back in the event that were to occur.
Would I allow myself to be stressed out or pissed if the price were to continue going higher and I had to use my remaining 20% to FOMO in buying LINKUSDT? NO... I would not be stressed out or pissed. That was a circumstance I was prepared to deal with because of my willingness to gamble on the price potentially falling to a lower low. I would simply suck it up and be thankful I was able to sell high (Around 19.xx) and buy low at an average price less than 10.xx. I would be super happy a plan came together and look forward to doing it all over again. ; )
ich1baN
⋅
@WyckoffMode, Sage advice ... thank you Dave for all you do.
FrankPlankton
⋅
Hi David,
would you mind to look at ADA or LINK pairs with BTC?
There are huge disadvantages to actually trading Alt-Coin/BTC pairs. The main reason I trade Alt-Coin/USD pairs is to protect my USD Capital. The only time I may trade an Alt-Coin/BTC pair is because I did not have the liquidity at the time on the Alt-Coin/USD pair to fill my order.
It's very common to MISS A TRADE if you are focusing only on Alt-Coin/BTC pairs. How so?
Quite often we will see BTC/USD dump along with Alt-Coin/USD pairs. If BTC/USD and all Alt-Coin/USD pairs dump the same percentage, this means the Alt-Coin/BTC pairs would remain flat (sideways).
EXAMPLE: If BTC-USD dropped 20% and Alt-Coin/USD pairs dropped 20%, the Alt-Coin/BTC pairs fell ZERO (0) PERCENT.
In the example I just provided, it means you would have missed an opportunity to increase your capital by 20 percent if you had your entire focus on the Alt-Coin/BTC pairs with no regard for Alt-Coin/USD pairs.
That is only one example of MANY I could provide to point out how so many miss out on opportunities to increase their personal capital because they focus only on Alt-Coin/BTC pairs and not place their primary focus on Alt-Coin/USD pairs. I will elaborate more on this in the future on another platform.
Moreover, I was wondering, current price action is at 10.30 about. I know it's likely way to early to tell, but based on the strength of this move up, is the secondary dip still in question?