Long Position Preparation
Updated
I am looking for the bottom here. My indicators tell me that there will be a bottom here. My RSI is an early indicator of price rockets down and up. As we see, it just predicted this bottom we are moving into, and the upward momentum that we will experience.
My bandpass which uses a modified noise-reduced price action as an input is showing that we expect a price cycle down, and if we don't cycle down, then we can time exactly when the uptrend will happen based on the cycle length (which is 100 bars, so we wait 25(1/4 cycle) bars and make sure price decides on a direction). Lastly, the dual volume divergence shows that negative volume is diverging into the green, which is bullish (also notice that for a part of the day it went positive, which is a sign of upward pressure building as it tests positive volume). Positive volume broke below the trend, which is a great sign for finding a bottom, as positive volume will start to recover upwards, we enter.
We need to confirm 3 things to enter, 1. the RSI hits the stop, indicating upward momentum, which will eventually pressure price up, 2. Bandpass cycling up, which is a waiting game, and 3. - vol above zero, + vol trending up. These 3 will mean we enter. I'll keep you guys updated as things occur, and will tell you if it get invalidated.
The benefit of looking at predictive volume, momentum, and cycling/trending analytics allows us to also confirm before and during what we look for rather than entering positions late, we have more confidence from predictive indications.
glhf.
-anooj
My bandpass which uses a modified noise-reduced price action as an input is showing that we expect a price cycle down, and if we don't cycle down, then we can time exactly when the uptrend will happen based on the cycle length (which is 100 bars, so we wait 25(1/4 cycle) bars and make sure price decides on a direction). Lastly, the dual volume divergence shows that negative volume is diverging into the green, which is bullish (also notice that for a part of the day it went positive, which is a sign of upward pressure building as it tests positive volume). Positive volume broke below the trend, which is a great sign for finding a bottom, as positive volume will start to recover upwards, we enter.
We need to confirm 3 things to enter, 1. the RSI hits the stop, indicating upward momentum, which will eventually pressure price up, 2. Bandpass cycling up, which is a waiting game, and 3. - vol above zero, + vol trending up. These 3 will mean we enter. I'll keep you guys updated as things occur, and will tell you if it get invalidated.
The benefit of looking at predictive volume, momentum, and cycling/trending analytics allows us to also confirm before and during what we look for rather than entering positions late, we have more confidence from predictive indications.
glhf.
-anooj
Note
Looks like I was able to call the bottom for this cycle. I would go Long here.Note
Click play ;). Kidding aside, looks like the long played out. Didn't completely hit target but It was more of a forecast rather than telling the future. It was a gamble to see which resistance level we would hit.
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