Every market moves in waves, and decoding these patterns can provide a significant trading edge.
Using my custom indicators, I analyze market breadth to determine whether a move shows true strength and can be trusted.
Currently, the candles are printing dark grey, signaling a lack of conviction. As such, I’m holding off until we see a break above 62.5 with solid support.
For now, I’m staying patient. Downside target sits at 57k, while the upside target is at the range highs of 70k—if we can break beyond the current resistance.
In this environment, managing risk is crucial. I'm not blindly entering a move that lacks solid support.
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.
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.