It is good to be back to posting. As usual the CME chart comes firsts. We have some gaps in the chart that might be filled soon or later
10820-Not Filled
10285- Not yet
9215 -Not yet
8840 USD. - Not yet
https://www.tradingview.com/x/FXgeXY1H/
This is my entry for the 100DAYSOFTA challenge, Friday 25th September 2020.
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I am joining a challenge by a group of traders. The challenge is #100DAYSOFTA. Some of the people in this group have posted on $Youtube, $Twitter but I will be posting mine on Hive.
The convener of this challenge is https://twitter.com/CryptoluXP*
However, the frequency might not be daily but it will be sequential.
Having said that, here is what I have:
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4 hr
The ST is now short. However the last uptrend didn't give a good entry. Now, that it is at a short, we can look at shorting when we are close to the resistance. The resistance right now is at 11100 USD. The current uptrend still seems to have a good fuel. Also, Willy not showing a short position now, although we have it at overbought levels. From the wave trend too, we still have more room to pop higher in the price.
https://www.tradingview.com/x/wVuLHuY0/
1h
The ST here is at a long position. The invalidation is at around 10300 USD. This means that we have room to go up and also come down while still being in a long trend. Willy already showed a bullish crossover and also the wave trend shows that we can still go up in the price.
https://www.tradingview.com/x/wg4Wo4DJ/
30 mins
This timeframe is always the fastest to know when the trend has changed. We can see that the price came down to form a bullish divergence before moving up. It is therefore worth noting that the wavetrend is showing some signs of overbought. This might mean a downward pressure is coming soon or we might overstretch the price again. Willy is also showing that we might have overstretch in price.
https://www.tradingview.com/x/af6fYQtB/
Extras
15mins and 5 mins charts respectively.
https://www.tradingview.com/x/uXO9qRXb/
https://www.tradingview.com/x/4QfgySaB/
Summary:
4hrs ST is short
1hr ST is long
30 mins ST is long
My Position
I will be waiting for 4 hrs trends to give me a nice entry on a long.