TOTAL - Inverted Creek GW Failure
This current fractal appears to be a limp and distributive Inverted Creek (Wyckoff), with a whipsawing Golden Window failure (0.618-0.786).
The upper pivot printed in an area of higher liquidity within the retracement Golden Window and beyond the Supply Trendline.
So there is double the liquidity in that area; lots of traders with their stop losses / liquidations.
This makes it an attractive point of reversal for market makers, and so there is higher probability that this area might capture a high time frame pivot.
The high volatility of the whipsaw is the price action that signals that a significant momentum shift may have passed.
The drawn projection is just an illustration, but it could go something like this.
In a nutshell; this is a bearish look.
TOTAL is the chart with dominant ratios and historically it bottoms in the retracement Golden Window following a selling climax.
So if that happens again, it will be the ideal dip buy territory.
Not advice.
The upper pivot printed in an area of higher liquidity within the retracement Golden Window and beyond the Supply Trendline.
So there is double the liquidity in that area; lots of traders with their stop losses / liquidations.
This makes it an attractive point of reversal for market makers, and so there is higher probability that this area might capture a high time frame pivot.
The high volatility of the whipsaw is the price action that signals that a significant momentum shift may have passed.
The drawn projection is just an illustration, but it could go something like this.
In a nutshell; this is a bearish look.
TOTAL is the chart with dominant ratios and historically it bottoms in the retracement Golden Window following a selling climax.
So if that happens again, it will be the ideal dip buy territory.
Not advice.
Nota
As I wrote on my Bitcoin thread, I've been taking profit from altcoins and selling into cash / Bitcoin.Nota
Just checked in on "Most Popular" charts to see what the sentiment is for TOTAL.
As you can see my idea is there and the other top 5 are all bullish.
No-one smells smoke, its just bull all the way...
Why is this?
Perhaps their charting reflects their belief in the crypto cycle delivering as per the "hodler handbook" and their desire for bullish action, rather than them actually presenting real work on a chart 💭.
This is the one problem with content on TradingView; especially in the crypto section.
It is mostly bullish dreamers, a spattering of haters, very few workers that can actually read a chart 🤨.
Nota
On our way down now 👍
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.