I’ve boxed up all the voatilities of all the consecutive lows ending with round numbers with purple boders and white background. I’ve joined up all the consecutive highs with round numbers using yellow lines. Hope there are no errors.
First thing you’ll notice is that the market isn’t so manipulated anymore hence fewer consecutive round number days – just my theory.
Next you’ll notice that many of these blocks have usefull breakouts, and many signal market exhaustion at extreem highs or lows. Will it continue?
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
If I am wrong, please be brutally honest with me. I would rather learn the truth than to keep arguing with the market. I am using a 3 day fixed volume profile on the 30minute chart. I am, self taught, new to volume profiles and NOT a successful trader (5 years and many blown accounts to prove it), so please do not copy this trade. I have posted this whilst experimenting with volume profiles. I can’t quite work out what the right parameters are for volume profiles. How many days to look back to if on a 30 minute chart, settings of the profile itself and how to trade it overall. The trade here is a lucky short, tomorrow i bet the profile won’t work.
With note of the economics, for a while the FTSE 100 trading has mostly been contained to between the two zones, an area of support holding buyers at around the 7600.00 price, while the area around the 7800.00 has been keeping the FTSE 100 in check and acting as resistance stopping further upward movement.
The large amount of sellers at around the 7800.00 will need to be weakened if the FTSE 100 is going to reach the 8000.00 price mark.
BTC price broke Ichimoku cloud and exited at the bottom. Now it works as resistance.
The main T3 Moving average changes it’s direction.
Overal, bearish condition.
For now, I am waiting for minor pullback, before we reach new lower lows.
Long term – bullish .
Short term – bearish .
. BITSHARES/DOLLAR is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 27.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue.
. There is a possibility of temporary retracement to suggested support zone (0.1210 to 0.0438). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.1210)
Ending of entry zone (0.0438)
Signal to enter the market occurs when the price comes to “Buy zone” then forms one of the reversal patterns, whether “Bullish Engulfing”, “Hammer” or “Valley” in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about “Entry signal” and the special version of our “Price Action” strategy FOLLOW our lessons: