It's easy to call it manipulation, but then you'd be ignoring all the technical analysis that told us we should be booking profit, hedging short, poor R:R at those levels and at weekly resistance.
If you want to play the game, the first rule is that there are no rules.
Whales will use their positions to create FOMO from retail traders and will sucker you in to their rallies only to use your liquidity to set up their short and long orders.
My next post will be education on liquidity creation from market makers so that you can trade like the whales.
I just wanted to get out a simple analysis after the massive candle this morning.
We didn't quite reach the target that I thought we'd get to, but as I mentioned in my anaylsis yesterday, I was hedging short and moved my stops to profit.
We are now at a potential support zone for a long as we hit the previous resistance and diagonal support.
I am currently flat at the moment and am waiting for a clearer set-up before I take a position and would urge caution or at least use a tight stop loss or only look to scalp on lower time frames.
When looking at the futures chart, I am seeing a lot of gaps that we will usually see get filled.
There's one gap around $4400 on the futures chart that I thought we might see a push to this Monday, so it really depends on how this daily and weekly close today.
I know it's not clickbait, but I want to focus on discipline, education and creating better traders.
Can you please elaborate on the gaps in your next post? Thx
BlockchainYahoo
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we have not yet tested 6000... once that happens then it will go back to do a double bottom...that will take all of 2019...pass the popcorn
EnigmaTrading
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@BlockchainYahoo, might as well go to 20k before double bottom with that logic
rhasan1987
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Thanks... my last week's trading got wiped out this morning... didn't expect such a drop with all kinds of positive stuff going on currently... posts like urs def help. Where do you see levels in the next few days?
mmsharov
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Bravo!!
GTY18
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+1
BFCMInvest
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Thanks for the content Jacob! I appreciate your feedback on my analysis of the manipulation on Ethereum!
weslad
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Hey guys I made this drop call far earlier before it happen just as I made the call for the rise. wow!!!!!, its correction time let enjoy it guys
fract
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melandrm
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Amazing dude! Very helpful chart! Where have you been with this chart before the dump?