Weekly Candle Beginning May 6th; Reversal to Downward Pressure
It's beginning to look like the Weekly Candle Beginning May 6, 2019 may be when we begin to see a reversal to downward pressure. The main reason for my conclusion on that thus far with this first publication is my estimate of when the Gray ENERGY in the Weekly may likely continue its decent and make contact with the 50% level on the Weekly Candle beginning May 6th. I anticipate it will continue it's decent below the 50% level on that Weekly Candle beginning May 6th. I'll follow up with a Weekly chart to provide a VISUAL of what I'm referring to with text bubbles for explanation shortly after posting this publication.
Also, have a look at my BTCUSD (Bitstamp); BTCUSD Shorts (Bitfinex); BTCUSD Longs (Bitfinex) chart below. The "Shorts" are up rather high at 24,471 with the "Longs" at 24,038 respectively. It has been a while since the shorts outnumbered the longs in contracts. They may want to continue this upward pressure in a diagonal trading range in the form of an ascending wedge or ascending channel until the Weekly Candle beginning May 6th. Continuing with upward pressure for that length of time may provide enough time to shakeout those short positions and potentially liquidate some of them before actually taking it back down again on the Weekly Candle Beginning May 6th. They may actually convince many to close their short position and open a long position during this period of time as well; just before taking us back down on the Weekly Candle Beginning May 6th.
I'm about to work on another video publication with more focus on indicators in lower time frames. The purpose of this publication was to see what's going on in the higher time frames first.
Cheers,
David
Also, have a look at my BTCUSD (Bitstamp); BTCUSD Shorts (Bitfinex); BTCUSD Longs (Bitfinex) chart below. The "Shorts" are up rather high at 24,471 with the "Longs" at 24,038 respectively. It has been a while since the shorts outnumbered the longs in contracts. They may want to continue this upward pressure in a diagonal trading range in the form of an ascending wedge or ascending channel until the Weekly Candle beginning May 6th. Continuing with upward pressure for that length of time may provide enough time to shakeout those short positions and potentially liquidate some of them before actually taking it back down again on the Weekly Candle Beginning May 6th. They may actually convince many to close their short position and open a long position during this period of time as well; just before taking us back down on the Weekly Candle Beginning May 6th.
I'm about to work on another video publication with more focus on indicators in lower time frames. The purpose of this publication was to see what's going on in the higher time frames first.
Cheers,
David
Bình luận:
Here's the Weekly with Gray Arrows drawn to point out the possible future trek of the Gray ENERGY. Also provided text bubble with possible dates for reversals.
Bình luận:
UPDATE:
This next video I will start out with my explanation for the Gray ENERGY reaching the 50% level in the Weekly TF is "likely" when we see reversal to downward pressure. Which is why I'm saying we may continue with upward pressure until the Weekly Candle Beginning May 6th. I'll let you look at the RED VERTICAL TIME LINES to see what I'm talking about WHILE I make the next video publication. REMEMBER to focus on what level the GRAY ENERGY is at WHEN the price action reverses to downward pressure.
This next video I will start out with my explanation for the Gray ENERGY reaching the 50% level in the Weekly TF is "likely" when we see reversal to downward pressure. Which is why I'm saying we may continue with upward pressure until the Weekly Candle Beginning May 6th. I'll let you look at the RED VERTICAL TIME LINES to see what I'm talking about WHILE I make the next video publication. REMEMBER to focus on what level the GRAY ENERGY is at WHEN the price action reverses to downward pressure.
