So we have come out the zone…The W formation appears to be working in our favour…This is where we determine whether or not our ability at understanding the market makers behaviour comes to realisation…
Notice what price is doing…The 200 day on the chart (which is the 50 day ema on the 1h) is showing potential support…What must we consider in this zone….Simple….if market makers have finished with thier intention to the upside, they will come down and break below the 15m time frame 50 day, and pull away from the 50 day ema 1hr.
trading does not need to be complicated. We react when the market makers act.
If and only if the market makers have the intention to favour price to the upside.
Close attention needs to be paid to the Range Daily high…If you recall from the previous posts from yesterday, the range daily high is a notable area that the market makers are aware that they can take price upto, or for the better, the maximum zone that price can rise to before it is to warrent a retrace back to the averages to reset the zone…that zone is priced at 54854…
Only when the market maker confirms the test of the 50 day moving average, we should see price continue and potentially hit the range daily high.
Ethereum – she is playing the same game…The new york reversal could come into play for both bitcoin and ethereum, however this will be based on the response by the market regarding the options expiration.
Ethereum also has exposure to the range daily high which is at the 1686 zone…Once again, we will need to see price confirm the 50 day zone on the 15m and on the 1hr time frame.
Notice how the 200 day and 50 day on the 15m time frame are close together, hence why we must add caution to caution. When the moving averages are together like this, we are effectively getting ready for a movement…
Always remember…as our intention towards price rising to the upside is slowly playing out, we must consider that the market maker may spike the low and THEN make the move to the upside, or SPIKE the low and continue LOWER…Your Mission, if you choose to accept it, is to preserve your capital….
So key points to consider:
As we are anticipating the options expiration, market makers may move price to the upside…granted they can move price up and then come back down…
This is why trading is difficult…People are fixated on their “Predictions” of where price is likely to go…As Patreons, my goal is to train your minds to see what the candlesticks are doing before we consider what Bitcoin or Ethereums “Value” is.
You have no interest in price…You only need to be aware of what she is doing on the chart…Remember from last nights stream, the reason why most traders lose is they become loyal to a price that is “talked” about across social media and various other platforms.
We follow the candlesticks. We see the market maker intention.
Trade Well My Friends.