Explanation WHY Upward Pressure May 25th or 26th Using Daily TF.
We COULD come back down to around $9,175 before finally turning back upward for sustained (long term) upward pressure. Meaning, we COULD be in a relatively tight trading range at the moment between $9,300 and $9,175 before we finally turn upward to sustained upward pressure May 25th or May 26th, 2020. Don't forget; I will following up with another video on the White Energy and Red RSI in the Weekly Time Frame once we have a new Weekly Candle in approximately 14 hours. I may not post a video immediately. It could be 12 hours after the close of the Weekly and a NEW Weekly Candle begins.
P.S. - Right now may not be a bad idea for dollar cost averaging...
Stay Awesome!
David
P.S. - Right now may not be a bad idea for dollar cost averaging...
Stay Awesome!
David
Comment:
The Weekly Time Frame to show you what I'm looking for on the next Weekly Candle in less than 14 hours:
Comment:
Update using the 90 Minute Time Frame:
Comment:
When downward pressure is about to occur in ANY time frame, it can be difficult some times to know for sure how the price action will react to that up coming downward pressure. If you note in the 90 Minute TF chart just posted, the Green Line is currently angled downward. Will it CLOSE still angled downward? Hard to say just yet unless we had a look at lower time frames and a little higher time frames. I just wanted to point out a BRIEF period of downward pressure could be approaching soon.
Comment:
Posting a LOGICAL comment from comments section with a chart:
iamthree
an hour ago
@WyckoffMode, you did a great job of hyping the weekly close ...
some people get excited for a movie to be released ...
others get excited watching there favourite sports team play ...
after around a year or so watching the BTC charts I get excited by weekly and monthly candle closes :)
trading is life and life is good :)
I just want to add another file in your case for the bulls
on the weekly the 15ema is above the 30 ema while also pointing up !
the 30 ema is above the 50 ema
and the 50 ema is above the 200 ema
this all major ema levels i watch are in a BULLISH posturing currently ?
I would at least wait for the 15 ema to close below the 30 ema to consider beginning to feel bearish personally
to me this ema pattern or posturing IS LITERALLY AS BULLISH AS THEY CAN GET LOL
not saying that i am long with leverage
but still if i was to enter a short position it would only be for "minutes" scalping nothing more ...
there is also fundamental bullish news flying around about banks institutional investors as well as the save haven narrative
yes absolutely the bears will have there turn to push price action down
your green crossing your red as well as the energy crossing the 0 line
this takes place when the wave form crosses and starts to turn down
but that selling pressure or price action is mitigated / weighted against :
1:who controls the trend
the bulls are currently in control of the weekly trend
and that control is increasing !
2:the trend either bullish or bearish
the trend is currently as bullish as it could possibility be on the weekly time frame
as stated above the ema 15 > 30 which is > 50 which is > 200
I could personally do with a holiday as I have been working far to hard on things out of my control
and you know what if I was to turn of my computer and go camping for a week
at this point in time I would sleep like a baby expecting price action to be no lower than 8k when I returned 7 days form now ...
is there a big move coming yes
but at the same time
these moves take some times weeks to form
I am not worried about price action having a few red candles
sure it happens part of any natural market
iamthree
an hour ago
@WyckoffMode, you did a great job of hyping the weekly close ...
some people get excited for a movie to be released ...
others get excited watching there favourite sports team play ...
after around a year or so watching the BTC charts I get excited by weekly and monthly candle closes :)
trading is life and life is good :)
I just want to add another file in your case for the bulls
on the weekly the 15ema is above the 30 ema while also pointing up !
the 30 ema is above the 50 ema
and the 50 ema is above the 200 ema
this all major ema levels i watch are in a BULLISH posturing currently ?
I would at least wait for the 15 ema to close below the 30 ema to consider beginning to feel bearish personally
to me this ema pattern or posturing IS LITERALLY AS BULLISH AS THEY CAN GET LOL
not saying that i am long with leverage
but still if i was to enter a short position it would only be for "minutes" scalping nothing more ...
there is also fundamental bullish news flying around about banks institutional investors as well as the save haven narrative
yes absolutely the bears will have there turn to push price action down
your green crossing your red as well as the energy crossing the 0 line
this takes place when the wave form crosses and starts to turn down
but that selling pressure or price action is mitigated / weighted against :
1:who controls the trend
the bulls are currently in control of the weekly trend
and that control is increasing !
2:the trend either bullish or bearish
the trend is currently as bullish as it could possibility be on the weekly time frame
as stated above the ema 15 > 30 which is > 50 which is > 200
I could personally do with a holiday as I have been working far to hard on things out of my control
and you know what if I was to turn of my computer and go camping for a week
at this point in time I would sleep like a baby expecting price action to be no lower than 8k when I returned 7 days form now ...
is there a big move coming yes
but at the same time
these moves take some times weeks to form
I am not worried about price action having a few red candles
sure it happens part of any natural market
Comment:
Comment:
Comparing PRESENT DAY with example from April, 2019 using 24 hour time frame: I drew lines this time to show what I mean.
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Update using the 90 Minute Time Frame:
Comment:
4 hours 40 minutes remaining in the current 12 hour candle. The next 12 hour candle may be the BEGINNING of a turning point.
Comment:
Added a "Date Range" Tool to this 90-Minute TF present day and April, 2019 to provide an idea of how much time POTENTIALLY remains to see if my TA was correct.
90 minutes x twelve (12) 90 minute bars (candles) = 1080 minutes divided by 60 = 18 hours.
90 minutes x twelve (12) 90 minute bars (candles) = 1080 minutes divided by 60 = 18 hours.
Comment:
LIVE Stream. www.tradingview.com/...isf-F81xu-Y1-fr5V-y/
Comment:
Pardon the current NOISE on the following chart. The definitions below are in beta. Additional acronyms with definitions likely to follow in the near future. I want to show what is POSSIBLE. I will create a new chart soon with less "noise" on it.
Definitions
HH = Higher High Likely in Progress in the CURRENT Time Frame
LH - Lower High Likely in Progress in the CURRENT Time Frame
HL = Higher Low Likely in Progress in the CURRENT Time Frame
LL - Lower Low Likely in Progress in the Current Time Frame
WOGU = Working on going up soon / Not Yet Confirmed in the CURRENT Time Frame
Definitions
HH = Higher High Likely in Progress in the CURRENT Time Frame
LH - Lower High Likely in Progress in the CURRENT Time Frame
HL = Higher Low Likely in Progress in the CURRENT Time Frame
LL - Lower Low Likely in Progress in the Current Time Frame
WOGU = Working on going up soon / Not Yet Confirmed in the CURRENT Time Frame
Comment:
By the way, I created those text bubbles BEFORE the move up to a Lower High in the 5m; BEFORE a move up to a lower high in the 10m; BEFORE the move up to a lower high in the 20 minute and the 40 minute was waiting to be confirmed.
New updates to follow for the PRESENT...
New updates to follow for the PRESENT...
Comment:
Oh and BEFORE the move to a lower High in the 20 minute.
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EXCUSE ME: And BEFORE the move to a HIGHER LOW in the 20 minute. Hence, the green rectangle box I placed on there several hours ago.
Comment:
I'm about to eat dinner. I also need to finish up cleaning a motherboard and power supply unit to post on eBay. Once that is done, I plan on going LIVE again. The purpose of the LIVE stream will be to show it's POSSIBLE to anticipate higher highs, lower highs, higher lows and lower lows in ANY Group of time frames. I will NOT explain HOW I'm doing it. I will simply show you it is possible. This is something that was in the works that was JUST FIGURED OUT over the past couple of days. If I had known this earlier, we would have bailed sooner; knowing it was coming down to a lower high and then another lower high, etc...
Some might say, I can do that... Okay... We'll see... NOT with the precision I'm about to show you...
Some might say, I can do that... Okay... We'll see... NOT with the precision I'm about to show you...
Comment:
Comment:
I just woke up... I need to eat and catch up on news (relax a bit) before I get back to charting and responding to comments/personal messages.
Comment:
May take another 15 to 20 minutes before it's clear if we have a higher high setup:
Comment:
The 5m is saying lower low and the 40m is showing more room to come down. IF the Green Line were to come out more to the side in the 5m to allow something else to occur in the 5m, then a setup for a setup for a higher high would follow.
Comment:
5m and 10m will likely be a lower low for now. Still have to wait a bit before going back up... I'm going to eat now and relax a bit.
Comment:
Was in the middle of a video saying the 3h TF was setting up for a higher high. I noticed we will have a NEW 3h, 6h and 12h TF in less than 7 minutes. So, I will wait to do a video publication till AFTER we have a new 3h, 6h and 12h candle.
