The CME market is now open and these gaps are yet unfilled.
12090 USD.
11655
11450,
10255,
9955,
9215
8840 USD.
https://www.tradingview.com/x/dzYwpAsP/
The simple idea about these gaps is that some of them will be filled, while others might not get filled. But the time and the volume at which they get filled is what the market will show us soon.
This is my entry for the 100DAYSOFTA challenge, Sunday 10th 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 bull run we observed and experienced on the BTC and this TF has been trending upward. ST is long and signifies the trend is bull. If we have a reversal then, we should expect a ST flipping to short. This is when we can start looking for an opportunity to short. However, until now we are still in the trend. Willy is undecided right now, however, this might mean we should be cautious in picking a side without using stoploss.
https://www.tradingview.com/x/NFc21erq/
1h
ST is long and acting as a good support, the price is something we should consider using considering, and the reaction at the support. We have tested the support a couple of times and still bouncing. Also, we have Willy forming a double bottom at the oversold and bouncing back. This suggests that we have more upside in the trend.
https://www.tradingview.com/x/DYRy7HT0/
30 mins
ST is short, and in general opinion, it is easier to follow the trend until it changes. If we have a price action pump towards the 11800 and a close above it then we will have a flip in the trend. The Willy is also at overbought which may affect the price movement. We can allow the short trend to play out before going in to hunt some new set up.
https://www.tradingview.com/x/14wNoFRe/
Extras
15mins and 5 mins charts respectively.
https://www.tradingview.com/x/lzR0CdoO/
https://www.tradingview.com/x/N3TjYbXe/
Summary:
4hrs ST is long
1hr ST is long
30 mins ST is short
My Position
This still stands.
The best position is now to dollar cost average. One thing is that we should now be targeting buying at the support of the TF, especially 1 hr and 4 hr, probably 30 mins TF too. This will improve our portfolio management.