The 15-minute chart can finally catch its breath. Whether that’s because selling pressure has eased while the Americans are eating, or because we’ve genuinely found a bottom, remains to be seen. Keep an eye on the daily close: if it closes above 834, then for now we can look for consolidation. There’s an unemployment claims report tomorrow night, CPI on the 14th, and it seems there’s also a crypto conference in Singapore tomorrow night. The curse of prices always dropping during conferences still seems unbreakable, while the analysts remain eternally calm 😂... Actually, when you think about it, the whole scene is pretty surreal: a bunch of project teams are talking big on stage while their tokens are simultaneously trading like absolute dogshit...
Below 828, the next levels are 823, 818, and 81350. 828 isn’t a good spot to enter with a large position and a tight stop. There’s no sign yet that the current move has bottomed, and getting stopped out while fully invested would really hurt. A better option is to scale in: open a 1/10 position around 828, then add once every 1500~2000 points, adding 1/3 of the position each time. Then wait for the 14-day window between CPI and FOMC and see whether the blond guy has “given up on treatment for good” or is “still barking.”
The resistance levels above are 839-840 on the 1-hour chart, and 844 on the 4-hour and daily charts. If there’s a reversal, it’ll first show up when a candle closes above the corresponding price. If you’re not confident about entering early, wait for the price to close above that level, then enter on confirmation. Just put your stop below the low of the previous 3 candles.
Going to bed early and seeing if I can get up early for once tomorrow 😄
Below 828, the next levels are 823, 818, and 81350. 828 isn’t a good spot to enter with a large position and a tight stop. There’s no sign yet that the current move has bottomed, and getting stopped out while fully invested would really hurt. A better option is to scale in: open a 1/10 position around 828, then add once every 1500~2000 points, adding 1/3 of the position each time. Then wait for the 14-day window between CPI and FOMC and see whether the blond guy has “given up on treatment for good” or is “still barking.”
The resistance levels above are 839-840 on the 1-hour chart, and 844 on the 4-hour and daily charts. If there’s a reversal, it’ll first show up when a candle closes above the corresponding price. If you’re not confident about entering early, wait for the price to close above that level, then enter on confirmation. Just put your stop below the low of the previous 3 candles.
Going to bed early and seeing if I can get up early for once tomorrow 😄