In people their mind it is either UP or DOWN. Right?
But what if I tell you we have another move?
'' SIDEWAYS ''
An ACCUMULATION PERIOD is very likely AFTER a downtrend. I see that the market had trouble piercing 65xx yesterday. It just couldn't do it. We tried it so many times now.
Next to that we are still in a falling wedge which is a HUGE bullish sign. Personally I started buying everything between 6.4 - 7k.
I hear people question the volume, but volume can show up very suddenly.
The more people realise we don't move further down, the more start buying in.
Also remmember that there is a big group that only buys the breakout.
Can I be wrong? YES. But these are just my thoughts on it.
Happy Trading!
But what if I tell you we have another move?
'' SIDEWAYS ''
An ACCUMULATION PERIOD is very likely AFTER a downtrend. I see that the market had trouble piercing 65xx yesterday. It just couldn't do it. We tried it so many times now.
Next to that we are still in a falling wedge which is a HUGE bullish sign. Personally I started buying everything between 6.4 - 7k.
I hear people question the volume, but volume can show up very suddenly.
The more people realise we don't move further down, the more start buying in.
Also remmember that there is a big group that only buys the breakout.
Can I be wrong? YES. But these are just my thoughts on it.
Happy Trading!
Note
notesonasx.com/wp-content/uploads/2015/09/Accumulation-Schematic-II.pngThe phase everyone skips in their heads...
Note
Massive MACD bullish divergence on the 4H chart
Note
Breakout of the wedge Note
I hope this is another bull flag. The RSI still looks very healthy with no bear divergences. Also it just confirmed the wedge as a support level.
I think that if we can hold this we will continue a move up
Note
Another support from the wedge
Note
Here is my latest chart about the scenario of an accumulation phase
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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.