The gaps at 9125, 9230, 9285 are not yet filled till now. This means that we still going to get them filled in the next few hours/days. I prefer a dump Monday than a pump Monday, this means that it is possible we have a dump soon.
This is my entry for the 100DAYSOFTA challenge, Monday 13th July 2020.
I am joining a challenge by a group of traders. The challenge is #100DAYSOFTA. Some of the people in this group have posted on $Youtube, $Twitter but I will be posting mine on Hive.
The convener of this challenge is https://twitter.com/CryptoluXP
However, the frequency might not be daily but it will be sequential.
Having said that, here is what I have:
Willy is trending upwards as we can see from the chart. This also suggests that we are in a price territory, where dump is possible but not total bear control. We also have the green fast moving average of Willy in the oversold area, we need to know, it is an indication that we had a very sharp move in price action. However, this doesn't mean we will not have more push up or a push down, it simply means we should be on the lookout for the current price action momentum.
Supertrend is still long and it is helpful to note that the price action on the ST is favoring that. However, a dump to as low as 8960 USD is possible.
Supertrend is short, This is because we couldn't break the resistance on the 1hr chart. The chart is sacrosanct. If we break the ST resistance on the 1hrs TF at 9377 USD, then we can flip long. A careful look at Willy suggests we may have a bear divergence in the chart and this might draw down the prices as we may see if it gets confirmed. This means we should pay attention to the price movement in the next few hours.
We are long on the 30 mins ST indicator. This is practically a good one, as we are likely not to fall below the 9175 which is the invalidation price right now. This means we have a chance of closing some of the CME gaps already. This is a good one and it will serve as an opportunity for people to long. Willy is trending downwards right now and it might be an opportunity to look at short term trades.
15mins and 5 mins charts respectively.
4hrs ST is long
1hr ST is short
30 mins ST is long
Please see the text below for the entries.
Today, it has flipped long. That means I have to look for a long opportunity at any drop. I will be longing.
This long entry will be at 0.382, 0.5 and 0.618 Fibonnaci retracements numbers, stop loss at 0.886, Target at 9700+.