Bitcoin trading calls

Quoting Olu

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Micron came out with a stonkingly good result yesterday after market close and that could have skewed things. However, I am starting to believe that it is all in the chart - whether DT's tweets, Iran's rebuttal, Profit releases good or bad. Look at crude oil. I have read calls for $250 a barrel (extreme I know) but where are we? $69.5 Manipulation you say? We are trading manipulation every day I dare say. The one common thing, for now, is human psychology. Even Algos were coded by humans so contain human fear/greed inputs or prompts as we know them...

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Quoting MaGiix

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{quote} i fully agree with you, i think the benefit or loss is less important that the reading of the market. in the long run if you have a good reading and over all a good self control and self audit you will succed. its the most important part i think. I’ve always told myself that now that I understand the psychology involved in trading, encountering a truly profitable and consistent trader commands respect—simply because of the mindset required. edit: I don't think we should look down on manipulation; instead, we should accept it, because we...

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Quoting Olu

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{quote} Hi MaGiix, You are my friend for life As traders we need to be able to perform in all arenas like gladiators. Always protecting our rear while moving forward or standing still. There are 2 types of manipulation I would say. (1)Sharp and sudden i.e. recent BOJ actions. But now that we know we are more careful. (2) every day protection which I believe is done by some US actors on behalf of the US gov to keep the stock market going up - positive news at stock market lows The trader's work is more difficult but doable nevertheless.

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Quoting MaGiix

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last gasp for btc and nq ? {image}

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Quoting Toboso01

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The Wednesday candle has closed, and the bears are still in control. Looking at the Daily chart (right), even with their current strength, they were unable to close below $60,700 (around the June 5 close), which previously left a large wick. This price seems to be a strong support level, as no daily candle has been able to close below it yet. The Wednesday candle managed to test the lows but ultimately closed back above $60,700. Daily Objectives: * Bulls: The goal for the bulls is to engulf yesterday’s candle (wednesday) and close above $62,700...

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Quoting Toboso01

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{quote} BTC played out according to my Long Criteria. Bulls defended $60,700 well, so my Short Criteria was never triggered. Instead, bulls broke above the DP zone at $61,047 with a strong 1H momentum candle, signaling that buyers are stepping in. Next, I'll be looking for a retest of this zone; a clear sign of rejection here could validate the bullish continuation. Key resistance levels to watch above are $62,200, $62,700, and $63,000. Keep in mind, I still consider this a counter-trend move. Bears need to reclaim the DO around $60,981 and defend...

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Quoting Olu

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{quote} Hi Toboso01, Thanks for your analysis. I re-followed my EW idea and re-shorted. The position is in profit now. I can see a clear 3 wave retracement off the lows for now. However the candle has not closed yet. And it is not clear if this pattern will develop into a 5 wave upmove. 1.30pm UK time is a big news release time and can't help but think about the dichotomy. Take the small profits now or continue to test the downside idea. Account preservation... EDIT: Added another chart. {image} {image}

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Quoting Olu

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{quote} Hi Toboso01, Thanks for your analysis. I re-followed my EW idea and re-shorted. The position is in profit now. I can see a clear 3 wave retracement off the lows for now. However the candle has not closed yet. And it is not clear if this pattern will develop into a 5 wave upmove. 1.30pm UK time is a big news release time and can't help but think about the dichotomy. Take the small profits now or continue to test the downside idea. Account preservation... EDIT: Added another chart. Edit1: SL moved to BE If price breaks the 60628 then the downside...

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Quoting MaGiix

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{quote} are you talking about core pce? or what ? edit It's the Federal Reserve's primary inflation measure. yeah ok it's that {image}

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Quoting MaGiix

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{quote} are you talking about core pce? or what ? edit It's the Federal Reserve's primary inflation measure. yeah ok it's that {image}

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Quoting Toboso01

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{quote} Hi Magiix, Always make sure to check the economic calendar when preparing your daily trading plan, especially for High-Impact News. You can generally ignore the Low-Impact (yellow) events. For those major high-impact releases, it's best to stay flat and step away from the charts 15 minutes before and 15 minutes after the release, as the market can spike like crazy.

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Quoting MaGiix

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{quote} ok thanks for the advice, im going to dive in the different new who comes out.

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Quoting Toboso01

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{quote} Personally, I don't care whether the news outcome is positive or negative. I just wait to see which direction the market decides to head—bullish or bearish. I can't tell you how many times positive news comes out and the market moves in the exact opposite direction. That's why I prefer to focus purely on price action, while remaining aware of the news simply because it injects the volatility that moves the market.

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Quoting Olu

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SL tightened. This is sometimes counter-intuitive. But if my plan plays out and we go down then I can add to positions looking for new lows. If it doesn't play out then it will be a scratch trade EDIT: B/E is 250 points away (250 points profit)

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