RTM
Read The Market (RTM) 🚦 each reversal pivot or node (flag) has big orders that makes a Failure To Continue interval which called FTC
imagine that each reversal pivot has 3 disposable price interval like traffic light :
1. yellow (FTC accept) : its kind of protection for FTC, start of finding divergence like wave 3-5 of Elliot
2. red (FTC) : the level which has biggest order and most potential to revers
3. green (MPL) : its safe to continue...
* notice that each interval is disposable, it means that if price touch it once, it doesn't work any more ...
** we have any fractal concept in this strategy like other's... sor for each big FTC, we have more accurate FTC ... if you dont know what fractal means, check "Butterfly effect and Fractal" tutorial on related ideas ...
as you see in Bitcoin, 55-58 is the last FTC of FTC for uptrend and it has already touched once, so we dont have any red light above but .... it has just reached accurate red light and still we have FTC of 55-58 interval which is 56100-56900 ... so BTC should have some retrace to a reversal point (FTC) ... it has a minor FTC in 42k and major one around 38k, both of them are untouched ... after 37k is green to continue to 27 or 24 even...
we try to continue showing each traffic light 🚦 in following analysis ...
thanks for reading this article, hope it would gainful...
Update GBP/CHF Quick Short RecapWasn't really looking to go short until I saw the close on the daily chart last night just before London by a few hrs. Interesting, though to see how one feed from Oanda shows something entirely different than another feed. Not a bad idea to use two different feeds to get some confirmation.
Trade well!
GBPCHF - Perhaps another 1st of month long will play out???The daily uptrend is pretty well established and price broke above a pretty clean resistance area and then tested the trend line with good rejection. Price broke the prev daily high and closed above the last down candles EQ (50% rea) with what appears to be possible buying Risk is 1%