Bitcoin Builds Another Inside Day, And The First Break Usually Lies Why the add in comes after the stop run, not before it
Looking back at Bitcoin and updating things with new information, some of it with a little Harry Hindsight but most of it in real time as things were developing.
We have already seen the evolution of the inside bar as a bull continuation and subsequent failure, which led to the bear setup. Now we see another inside day for Saturday, and it seems that Sunday could bring an add in opportunity.
As previously discussed, inside days for me are not usually a reason to instantly take the break, and it's usually a false break on the first break. Context matters. And looking for low risk opportunities is what I need.
Overall the theme is currently bearish, so with that assumption, my bear goggles are firmly on.
If it breaks up first
A bull break of the inside bar could well be the stop running, or as the kids insist on calling it these days a liquidity grab or sweep (trying not to roll my eyes). A break of the highs could likely be a fast breakout, and the real move is often in the other direction.
The name is new. The behaviour is not.
Just as we saw on the 23rd of August, such a break is the trigger to drop lower time frame and seek out a break back into the inside bar, and trade it through to the inside bar's lows. And potentially beyond, to the larger target area.
If it breaks down first
A break of the low first, in context, could then lead to a double failed break as the stops are gobbled up both sides, and still looking for a bear setup near the inside bar highs.
Stops on both sides, gone in the same session. Tidy work if you can get it.
And if price pops n drops through the inside bar lows and never comes back, such is the way of things, and I'm already bearish so not missing out on anything.
The bit worth keeping
A good way of adjusting your mind to this way of thinking is...
What would I like to do?
Where would your stops go?
That's where you want to look for your entry.
Looking back at Bitcoin and updating things with new information, some of it with a little Harry Hindsight but most of it in real time as things were developing.
We have already seen the evolution of the inside bar as a bull continuation and subsequent failure, which led to the bear setup. Now we see another inside day for Saturday, and it seems that Sunday could bring an add in opportunity.
As previously discussed, inside days for me are not usually a reason to instantly take the break, and it's usually a false break on the first break. Context matters. And looking for low risk opportunities is what I need.
Overall the theme is currently bearish, so with that assumption, my bear goggles are firmly on.
If it breaks up first
A bull break of the inside bar could well be the stop running, or as the kids insist on calling it these days a liquidity grab or sweep (trying not to roll my eyes). A break of the highs could likely be a fast breakout, and the real move is often in the other direction.
The name is new. The behaviour is not.
Just as we saw on the 23rd of August, such a break is the trigger to drop lower time frame and seek out a break back into the inside bar, and trade it through to the inside bar's lows. And potentially beyond, to the larger target area.
If it breaks down first
A break of the low first, in context, could then lead to a double failed break as the stops are gobbled up both sides, and still looking for a bear setup near the inside bar highs.
Stops on both sides, gone in the same session. Tidy work if you can get it.
And if price pops n drops through the inside bar lows and never comes back, such is the way of things, and I'm already bearish so not missing out on anything.
The bit worth keeping
A good way of adjusting your mind to this way of thinking is...
What would I like to do?
Where would your stops go?
That's where you want to look for your entry.
Full-time trader and mentor since 2001
Focusing on short term income swings with $SPX options, futures and occasionally stocks.
Focusing on short term income swings with $SPX options, futures and occasionally stocks.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Full-time trader and mentor since 2001
Focusing on short term income swings with $SPX options, futures and occasionally stocks.
Focusing on short term income swings with $SPX options, futures and occasionally stocks.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.