The Market can do whatever it wants.
The market may do as it wishes whenever it pleases. Like the wrath of a god.
We are not gods. We are humans and not one of us is invincible.
Therefore we must only take good Risk/Reward ideas. Buying up here is not a good RR Idea.
Buying the High and chasing the market is Forbidden to professional traders. Just as Selling the low is.
These are principles that the trader learns along the long and painful journey to profitability.
This is how the Average man , through patience and diligence , may become the greatest of warriors.
And line his pocket in ever-increasing quantities. Don't chase but allow the market to arrive at your level's.
The latter has probabilities in favor.
The market may do as it wishes whenever it pleases. Like the wrath of a god.
We are not gods. We are humans and not one of us is invincible.
Therefore we must only take good Risk/Reward ideas. Buying up here is not a good RR Idea.
Buying the High and chasing the market is Forbidden to professional traders. Just as Selling the low is.
These are principles that the trader learns along the long and painful journey to profitability.
This is how the Average man , through patience and diligence , may become the greatest of warriors.
And line his pocket in ever-increasing quantities. Don't chase but allow the market to arrive at your level's.
The latter has probabilities in favor.
Note
Price didn't respect our Weekly S/R Zone 26,760 but offered a nice risk/reward idea off of 27,150 Daily resistance level Note
All we can observe thus far with the new monthly candle is bearish pressure. It's been 1 week so far and during this next weekly candle I think it is very possible to see price continue to retreat to the 24,300$ Weekly S/R Zone. I Can see price returning to the Daily support level 25,572$Note
Current Price 26,413$Note
We can Observe that price has used the pullback to capture long liquidityonly to return to the lows. It took 3 days and 10 hours to return back to the lows at 25,752 Daily Support level. This demonstrates the lack of what seemed to be a sustainable bullish recovery from the lows.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.