It feels like February and March all over again. COVID-19 case increasing in the US and Europe. Germany and France going into lock down mode. The equity markets selling off. Nevertheless, I posted a Nassaq futures chart in the Leo Discord channel this morning as a level to go long. By the end of the trading day on Weds. price entered the level and is now raising. In the morning, I will be looking to go long.
MY TRADING METHODOLOGY IN A NUTSHELL BELOW
I’m a supply and demand trader. The premise of supply and demand trading is when the market makes a sharp move up or down the large institutions i.e banks/hedge funds are not able to get their entire trade placed into the market, leaving pending orders to buy or sell at the zone with the expectation the market will return to the zone and the rest of their trading position will be filled.
https://finance.yahoo.com/news/stock-market-news-live-october-28-2020-221607983.html
https://finance.yahoo.com/news/jim-cramer-potential-lockdown-buying-131126552.html
I use multiple time frame (MTF) analysis to improve my discretionary trading decisions. MTF analysis involves analyzing the same asset on multiple time frames. The rule of thumb when using MFT is you want your charts to scale down/up by 4X – 6X. In my case I tend to look at:
Monthly Charts (curve time frame) – which represents that jet fighter flying over the football stadium.
Weekly Charts (trend time frame) – which represents the concession stands looking down at the field.
Daily Charts (entry time frame) – which represents being on the football field with the player.
4 Hr Charts (entry time frame) – which represents the center hiking the ball to the quarterback.
▶️ 3Speak
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It's funny how they kept throwing out positive spins all morning, it didn't help though. Looks like it bounced off that buy point you had on the chart.
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Held nicely today as price moved up quite a bit, lets see how the week ends.
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Concerning COVID-19, I thought we were done with it?
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It's' going to get ugly again.
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So if they are slowing down on selling and letting higher orders fill, are we going to see a rise in their prices?
Compared to cryptocurrency, what will this do to it, will companies look to sell in the equity markets and get more crypto if it takes a dive, or will they look to sell Bitcoin soon if is rises higher?
Nice analysis of the markets and the news relating, which helps people to not have to search themselves and look to your video instead.
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Thanks @thegoliath. That's is a great question...I think we see both, but longer term Bitcoin will far outperform equities this decade.
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I agree with it far outperforming due to how much more it is being used and people are getting into cryptocurrency.
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