BitcoinShort
The Trump Dump
Caution to the sensitive bulls, you're not going to like this one...
I know we all like hopium and up-only charts, but this isn't it. Those only exist in fairytales. This is trading and we have to stay grounded if you plan to actually profit outside of the HODL philosophy.
The truth is that elections don't matter, new events doesn't matter. At least not how the majority thinks they do. These events merely mark points in time, they can be catalysts or pivots. But those time points don't care about your philosophy on the actual event.
Let the emotion and philosophy in and you'll lose, guaranteed. Close those out and look only at the charts, using those events to understand important time points to pay attention to and you might see that this one is going to be critical.
On a macro picture, this market structure has been clear, simply a series of expansions and ranges (I know, obvious, this is how all price moves). But recently we had a strong expansion beyond the all-time high, which might seem bullish at first glance but is going to be a liquidity trap in hindsight.
On a more local view, we have our range forming after this larger expansion and that range has already generated a fakeout higher and come back into the range, with the next breakout of the range to be to the downside. I do not trade blind FVGs or other ICT stuff, but there will be a lot of hindsight analysis from people claiming that this daily FVG was obvious.
Combine this with the important time events that has everyone so bullish, like elections or whatever, and you have the perfect recipe to wreck almost everyone.
From here, I am looking for AT LEAST a 30% drop. Targets may get lower as data comes in, but keeping it conservative until more high timeframe candles come in.
You may disagree with the post, but at least it has a clear bias.
I know we all like hopium and up-only charts, but this isn't it. Those only exist in fairytales. This is trading and we have to stay grounded if you plan to actually profit outside of the HODL philosophy.
The truth is that elections don't matter, new events doesn't matter. At least not how the majority thinks they do. These events merely mark points in time, they can be catalysts or pivots. But those time points don't care about your philosophy on the actual event.
Let the emotion and philosophy in and you'll lose, guaranteed. Close those out and look only at the charts, using those events to understand important time points to pay attention to and you might see that this one is going to be critical.
On a macro picture, this market structure has been clear, simply a series of expansions and ranges (I know, obvious, this is how all price moves). But recently we had a strong expansion beyond the all-time high, which might seem bullish at first glance but is going to be a liquidity trap in hindsight.
On a more local view, we have our range forming after this larger expansion and that range has already generated a fakeout higher and come back into the range, with the next breakout of the range to be to the downside. I do not trade blind FVGs or other ICT stuff, but there will be a lot of hindsight analysis from people claiming that this daily FVG was obvious.
Combine this with the important time events that has everyone so bullish, like elections or whatever, and you have the perfect recipe to wreck almost everyone.
From here, I am looking for AT LEAST a 30% drop. Targets may get lower as data comes in, but keeping it conservative until more high timeframe candles come in.
You may disagree with the post, but at least it has a clear bias.
Telegram @SusWhale
inquiries welcome. Silly ones will be ignored.
inquiries welcome. Silly ones will be ignored.
Telegram @SusWhale
inquiries welcome. Silly ones will be ignored.
inquiries welcome. Silly ones will be ignored.
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