What we had so far?
Market daily update:
- CME gap closed:
1 more CME gap to be aware of below 12k.
- We have reached critical resistances area:
A retracement off it should be expected.
- We might close monthly above the last monthly candle with very nice volume:
With enough liquidity this can actually start the next bull run phase.
- We are above all Mas, volume keeps on rising (Still very low), OBV keeps on rising to better and better levels, but everything is overbought…
This means that the trend up should continue, but what will indicate next moves should depend on: going sideways, indicators reset, and overall consolidation below the critical resistance…
- Price might move a bit more up (Towards the 8300+/-) , but a pullback/correction is more likely to happen (either before that or right after).
But do remember, many times what is to be expected isn’t working out why? Because price goes against the unexpected, liquidity comes from wherever they can fuck up people.
this move to close the gap fucked a lot of people, groups.
My personal short was stopped yesterday but with a strict SL.
Our group on the other hand kept on collecting profits.
Sometimes you win some, sometimes you lose some, you can’t really control it, what you can control is your losses, if you don’t have strict portfolio management and if you don’t have the psychology to know your limits, then this market isn’t for you! Always go by your plan!.
- Overall conclusion, I personally still not fully bullish, as I said on last SA/FA update I will be fully bullish only when we pass 10500 followed by trend and real volume and OBV support behind it.
Despite me being not fully bullish it doesn’t mean I won’t act accordingly to price movement, in the end no one can “predict” market, we can only act by it, and protect ourselves with how we trade.
• Bullish move should look like something like that (after consolidation, and after indicators rest a bit):
Which means that we will use the daily cloud and the e200 as a strong support level to bounce from the s/r level and suppress the critical resistance levels.
• Bearish move should look like something like that:
Which means that if we pass below the daily e200, then we enter the cloud, then we will rest at e50 before we continue to the lower part of the cloud.
- CME gap closed:
1 more CME gap to be aware of below 12k.
- We have reached critical resistances area:
A retracement off it should be expected.
- We might close monthly above the last monthly candle with very nice volume:
With enough liquidity this can actually start the next bull run phase.
- We are above all Mas, volume keeps on rising (Still very low), OBV keeps on rising to better and better levels, but everything is overbought…
This means that the trend up should continue, but what will indicate next moves should depend on: going sideways, indicators reset, and overall consolidation below the critical resistance…
- Price might move a bit more up (Towards the 8300+/-) , but a pullback/correction is more likely to happen (either before that or right after).
But do remember, many times what is to be expected isn’t working out why? Because price goes against the unexpected, liquidity comes from wherever they can fuck up people.
this move to close the gap fucked a lot of people, groups.
My personal short was stopped yesterday but with a strict SL.
Our group on the other hand kept on collecting profits.
Sometimes you win some, sometimes you lose some, you can’t really control it, what you can control is your losses, if you don’t have strict portfolio management and if you don’t have the psychology to know your limits, then this market isn’t for you! Always go by your plan!.
- Overall conclusion, I personally still not fully bullish, as I said on last SA/FA update I will be fully bullish only when we pass 10500 followed by trend and real volume and OBV support behind it.
Despite me being not fully bullish it doesn’t mean I won’t act accordingly to price movement, in the end no one can “predict” market, we can only act by it, and protect ourselves with how we trade.
• Bullish move should look like something like that (after consolidation, and after indicators rest a bit):
Which means that we will use the daily cloud and the e200 as a strong support level to bounce from the s/r level and suppress the critical resistance levels.
• Bearish move should look like something like that:
Which means that if we pass below the daily e200, then we enter the cloud, then we will rest at e50 before we continue to the lower part of the cloud.
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