Good Morning traders!
Yesterdays PA was easy to understand if you new what to look for.
Retail traders are PREDICTABLE and therefore the markets movements are.
The market has moved exactly as anticipated, sweeping out the retail orders stacked at the bottom of the range.
We are now currently sitting on the neckline of a large head and shoulders pattern. These patterns are subjective, and become "valid" once we break and close under the neckline. Again don't you think whales and funds know of these patterns....
From this point onwards I will be looking to enter longs, however I will be prepared that price can easily pull right back to the yellow circle around 37k.
The current market is being influenced by the spx500 and Evergrande, how it will play out is anyone's best guess, but I would suggest the Chinese government will stop a default to stop toxic debt seeping into the greater market.
As always trade safe
EnvisionEJ
Yesterdays PA was easy to understand if you new what to look for.
Retail traders are PREDICTABLE and therefore the markets movements are.
The market has moved exactly as anticipated, sweeping out the retail orders stacked at the bottom of the range.
We are now currently sitting on the neckline of a large head and shoulders pattern. These patterns are subjective, and become "valid" once we break and close under the neckline. Again don't you think whales and funds know of these patterns....
From this point onwards I will be looking to enter longs, however I will be prepared that price can easily pull right back to the yellow circle around 37k.
The current market is being influenced by the spx500 and Evergrande, how it will play out is anyone's best guess, but I would suggest the Chinese government will stop a default to stop toxic debt seeping into the greater market.
As always trade safe
EnvisionEJ
