$BAT Abandon Ship!
Ladies and gentlemen, one of the things that has been the absolute hardest for me to overcome or get a lasso on over the years is estimating time frames… Throughout the years, I have an uncanny tendency to find out I was right the first time, but everything always takes longer to occur that I think it's going to… But it almost always occurs...
Let me break it down for you with a live 15 minute analysis, I think you'll like this one… I am out of this position at about .326. I am now looking for at least 29 and possibly as low as 24.5 and this is something that I outlined in the very first video I posted.
This is going up in the long run, it will return to new highs, but I think that we're going to see some panic right now that will weeded a lot of people out and make room for new investors that wanted to get in, but thought they missed the rally… It is natural. It's like a heartbeat. It has to happen. You can't have huge incredible days every day without some kind of ameliorating sell off..
You've witnessed me buying and selling a lot over the past few days... That's what I do always ready with my finger on the trigger. You can get it wrong but if you're honest, and you know when you're wrong and you take action, you won't lose money..
Maybe you long-term guys aren't even concerned about a pull back to something like 24… Maybe something like 29 sounds like a stupid crazy waste of time to you.
But I am a trader by nature, I can't help it, It's what I do. I can't be an investor, I tried.
I refuse to ride these things down.
If I'm wrong, I would rather lose a little value on the way up than watch the balance in my account tick down like a backwards cab meter, but that's just me. I have made a lot of money in this thus far and I don't wanna see it vanish.
Let me break it down for you with a live 15 minute analysis, I think you'll like this one… I am out of this position at about .326. I am now looking for at least 29 and possibly as low as 24.5 and this is something that I outlined in the very first video I posted.
This is going up in the long run, it will return to new highs, but I think that we're going to see some panic right now that will weeded a lot of people out and make room for new investors that wanted to get in, but thought they missed the rally… It is natural. It's like a heartbeat. It has to happen. You can't have huge incredible days every day without some kind of ameliorating sell off..
You've witnessed me buying and selling a lot over the past few days... That's what I do always ready with my finger on the trigger. You can get it wrong but if you're honest, and you know when you're wrong and you take action, you won't lose money..
Maybe you long-term guys aren't even concerned about a pull back to something like 24… Maybe something like 29 sounds like a stupid crazy waste of time to you.
But I am a trader by nature, I can't help it, It's what I do. I can't be an investor, I tried.
I refuse to ride these things down.
If I'm wrong, I would rather lose a little value on the way up than watch the balance in my account tick down like a backwards cab meter, but that's just me. I have made a lot of money in this thus far and I don't wanna see it vanish.
Note
Definitely not back in yet
Trade active
So you can see the price did decline by about 1.5 cents since I made the video, and proceeded to the lower bands - Something I did not want to see effect my balance.
If today's bar closes green, the trend will continue.
As the candle body has receded and a long wick is now exposed underneath, I am inclined to bet it will continue.
As the price has crossed above this trendline, I am inclined to believe a reflection down is unlikely at least in the next hour to few hours.
Notice the upper bollinger bands in this image, how separated they are, and the fastest one turning sharply upward... highly separated bands represent small swath of liquidity and tend to slow price action down rather than reflect price off of it... the price will likely slowly continue through them.
SO, I have bought back in at .32442, holding for at least .332, the upper bands on the 2hr chart coinciding with my upper trendline. Here I will look for a reversal or continuation.
I was tempted to buy at the large bullish piercing-line formation on the bottom, but was unconvinced of the trend continuing until a few key areas were tested.
I have gained a little bit of value at this slightly lower price than yesterdays peak.
I am still very wary of a huge selloff as soon at the trend shows definite signs of slowing, and the event that todays daily bar actually does close red. But a green bar today will likely lead to at least one more parabolic thrust upward. I have my finger on the trigger, ready to sell, because the first real reversal will be huge, it is only a matter of time.
Trade closed manually
Folks, the moment we closed red on the day, I got out, just like I said I would. Out at .32. Lost a fraction but It'll come back. Don't trade on hope. I keep jumping in despite my warnings because I love this product and I don't want to miss a huge move, which will also come again in the near future, but that's hardly dispassionate\. THis is probably the panic I was taking about.
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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.