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It is much more rewarding to go with the trend, as you can easily add on the retracements and ride it for much longer, rather than to time the small dips in an uptrending market and pullbacks in the downtrending one
Simple concept that retail understands after all the trail and error is to not fight against the trend.
I'm not a fan of trading solely on price patterns. But what's a fact in the market is, that patterns are recurring and they work given the context.
Below are 2 of my favourite setups for reversals, that I love to take in 2 very different market environments.
One of my favourite setups to take at the key inflection points:
1. At range highs, key swing highs and lows, 3 drives pattern often occurs
2. Use for confluence, not trigger
3. Post 3rd drive, look for divergence and/or liquidation spike with no CVD follow through
4. Entry
Using orderflow to understand why price moves
And how to take advantage of it:
if the last swing low at $307 doesn't hold, you simply book your lose
$TAO
Multi days downtrend broken first week into this month, as price is above 18% so far (at the recent high)
Treating this move up as potential start of the overall relief rally and bidding $310-315 with a very tight invalidation,
My POI is the cluster between $0.16-0.17, which is pretty safe area to bid imo, as if this doesn't hold you can assume price is gonna run the lows again. With targeting being the previous monthly high at around $0.22.
$FARTCOIN
Was trending yesterday before the ceasefire news. And up around a decent 25% so far and now retracing.
Price trades into key swing high, sellers keep selling into persisent bids from late longs and once the buying stops, price usually leaves some identifiable pattern like BOS/CHOC, that is visible on footprint charts as well.
Longs are left offside and punished
Pattern we see quite often as of late.
In ranging markets and generally as well, most breakouts end up as great reversal setups.
Price Action Trading on lower timeframes
Getting things in place, like your execution model or knowing your routine well, takes so much dedication that building those systems while working another job can be almost impossible, because it takes so much time.
It's a double edged sword.
Having another job can actually release pressure and allow for better mental when trading, but that only applies once you have your systems in place.
momentum > timing the bottom
how internal liquidity works:
how to spot bottoms:
So nothing to do here at this point. BTC is approaching $65-66k cluster which could lead to a bounce for ETH as well. But until $2100 is reclaimed again, I don't see good long opportunity.
$ETH
Not the best looking chart compared to Sol. The level we were looking to bid, did not hold as price is trading below it, the idea is invalidated until a reclaim with some momentum.
"Edge" is thrown around a lot but not much explanation is given as to what it actually means.
Below is what I classify as "edge" on different aspects of trading
$MU Update
Nice push on the daily here
Map showing $460 pivot... Needs above this for higher
$MU
If we can break previous resistance at $455 area this can go on another run
Until then.. be weary of the small gap fill below
Heatmap attached
$SOL
No trade zone for me here. Waiting to see how price reacts around $96-97 area. If price puts in large impulsive candles through this level, I'll be a buyer at any given dip looking for continuation. If we correct from this level, I'd look to bid from low $80s.
how internal liquidity works:
always have a plan before you execute: