To the moon, or doom?

Phew, what a couple of months of action that was! Since are still in the BETA of our website we did not update here but members should have gotten daily updates in discord. So hopefully most of us where on the right side of the trade (down) when the floor was broken. Since then we have had some solid plays intraday as displayed in the charts posted here. A solid short call at $8813.63 down to sub $7.5k. That move prompted a a buy signal in regards to EW and VRT. With everyone looking for further lows we were one of the few on top of the move to the upside. With a 3+ degree terminating point it was silly to look for the last low and we were buyers as soon as PA crossed 7.5-7.7k. At the completion of the 4th largest $BTC move in history we were coincidentally looking to short it. With that short being successful we have slowly bled all the way down to a low of $8360. With volume slowly dwindling as PA seems to chop its way down one must ask is interest to sell at these levels fading? Or are the whales playing mind games and sucking the small players to think its safe to start to buy back in? With my primary analysis still holding true I cannot jump ship just because we have seemingly erased 60% of that move to the upside. With Time and price nearing invalidation the RR increases and my checks are beginning to flip to go. Members were given the "one last low" call on just prior to the low of 8360. Now as we consolidate between resistance and support the telling move is about to come and we are preparing ourselves for a move to the upside. Stops set we also have a solid secondary that we will be trading if we are indeed stopped out and the secondary is proven true. In short buying in now with stop around 8420 wont be a bad idea as RR is optimal in both time and price for us and if you are playing this as a swing. Confirmation would be a move over 8630.0 but a move below our stop will be invalidation to the idea and we would seek the bearish secondary displayed in the link at the end of this post. Remember to hit the like button and most importantly always practice good risk management. May the force be with you traders!













0 views

©2019 by Elevate Trading Group:
Trading contains substantial risk and is not for everyone, we are not financial advisers and what we share are just our thoughts and opinions. We work to recommend low risk, high reward trades, but you should never risk more than you can lose and we are not responsible for ANY losses or wins incurred. An investor could potentially lose all or more than the initial investment under certain circumstances. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is no guarantee of future results.