CME chart created a gap from the drop but it has filled now. However we have a gap at around 11505 USD, which is expected to be filled any time soon, and also some other gaps below at 10255, 9955 USd, also we have gap in the 13K+ region. The chart will be printed in the next move we will see, either up or down.
https://www.tradingview.com/x/iFvCIw9G/
This is my entry for the 100DAYSOFTA challenge, Monday 3rd August 2020.
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I am joining a challenge by a group of traders. The challenge is #100DAYSOFTA. Some of the people in this group have posted on $Youtube, $Twitter but I will be posting mine on Hive.
The convener of this challenge is https://twitter.com/CryptoluXP
However, the frequency might not be daily but it will be sequential.
Having said that, here is what I have:
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4 hr
The chart is developing probably another pattern which may lead us to higher price values or return us to the lower prices. However, up till now we still have the ST as long. The only thing that has change is the invalidation price which is now at 9915 USD. This means we can now have the support at that level and if it breaks we will go further down as the ST will flip short. And a short on this TF, is not a nice one for the price action. Right now, Willy has crossed over bullish this mean we should expect a positive move soon or we might retest the low.
https://www.tradingview.com/x/ipebUXvR/
1h
On this TF, we have the ST as a perfect support. This is so great, seeing ST working this well. Now we have the support which might be a resistance if we break it. With the ST support, we also have Willy as overbought and this doesn't mean we should dump, because we can have it extending for a long time. Therefore, it is good to set stoploss in profit.
https://www.tradingview.com/x/wF8zZvxY/
30 mins
ST is not smiling on this TF, with a short and the short flattening out, we either have it breakout or breakdown. We need to be armed with stoploss if we are trading this 30 min and already in profit. This is because it might be difficult to get to close a trade if the momentum increases. However at resistance it is recommended to short and at support recommended to long. Willy is also overbought on this TF which means, we should be more careful at this level.
https://www.tradingview.com/x/cJ1YfYYa/
Extras
15mins and 5 mins charts respectively.
https://www.tradingview.com/x/yVUmxKlb/
https://www.tradingview.com/x/AYoR1kOp/
Summary:
4hrs ST is long
1hr ST is long
30 mins ST is short
My Position
Flat.