Supply & Demand (BUY LOW SELL HIGH) ~ Lower highs since Aug 17th
-Yurlo
Hello trading/crypto community, I hope everyone had a great weekend and took time to further their knowledge and wisdom as a trader.
Price action discussion:
#1: Smart money filled position (retail participation phase or dumb money entering the market) ~ public participation #1 (end of July, early August)
#2: Still making higher highs ~ public participation #2
#3: Bearish divergence (declining oscillator + rising price) ~ August 17th initiated the downtrend
#4: Change of direction/momentum confirmed ~ September 2nd (lower high) ~ (distribution phase)
#5: Swing highs connecting phase (a, b, 1)
#6: Change of trend direction (August 17th - September 30th)
#7: (Rising wedge pattern ~ initiated from above, will tap the trend line connecting lower highs, then continue in a bearish trend)
Hello trading/crypto community, I hope everyone had a great weekend and took time to further their knowledge and wisdom as a trader.
Price action discussion:
#1: Smart money filled position (retail participation phase or dumb money entering the market) ~ public participation #1 (end of July, early August)
#2: Still making higher highs ~ public participation #2
#3: Bearish divergence (declining oscillator + rising price) ~ August 17th initiated the downtrend
#4: Change of direction/momentum confirmed ~ September 2nd (lower high) ~ (distribution phase)
#5: Swing highs connecting phase (a, b, 1)
#6: Change of trend direction (August 17th - September 30th)
#7: (Rising wedge pattern ~ initiated from above, will tap the trend line connecting lower highs, then continue in a bearish trend)
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Congrats to those who shorted the top of the range like a good trader would
Never take any risks that arent protecting your capital first
Never take any risks that arent protecting your capital first
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