You need to find true reasons of price movement and its limit (nonlinear dynamics, self-organization, etc.).
If that was suppoed to be an intelligennt answer to what I asked I can assure you that it was neither of those.
Price limit attractor (dynamic forecast indicator): This is what you are looking for. And I told you how to find that.
It looks like you hold to the mean-reversion theory of price action, that price will tend to regress towards its long-term average value. In other words, buying in a downtrend. Or in other words again, stepping onto a sinking ship. Again and again.
no you can do it if it is range...... as in the chart above. enter with a wide stop and scale in.......you can see 2 trades that worked in my journal.....of course sooner or later the wide stop will trigger.....but because it is wide, the probability is high that will NOT trigger most times......so you should get ahead in the LONG RUN.....IF YOU FOLLOW IT CONSISTENTLY
Or I could just draw a bear channel and short and add on in the top 1/3 cover in the middle or bottom third. Watch the pressures building in the channel because when it does’t have a successful BO it will probably be north. Bear channels function as bull flags. Usually. LOL
There's no point us arguing over whether the chart is a downtrend or a range. These things are constructs to aid training, not DNA to aid positive forensic identification and prediction. I don't trade in ranges because I don't have to. Nobody has to. There are always trends to follow and trends have a higher probability of continuation than reversal - that's why they are trends. Ranges are difficult to find objective definitions for, and they have unclear FA rationale. Range trades rely on repeated reversals, which are inherently a low-probability price behaviour. It is hard to say that the most likely thing that price in a range will do is continue the same range. Its a poor strategy and definitely attractive to new traders.
%% WELL, 1st points, I don't think he meant to say bitcon was exactly like stocks; but using your numbers- nowhere did he write its worth $1o -16. And for an individual stock, some funds have a much more % gain, better management fees than others. And while is true a fund/funds could ''set'' the price[so to speak] on an hour chart; next hour could be completely different. COULD happen for days, but in liquid markets, frankly they are not making the stock price waver for long.IF you like printed charts but you may want to note summer rally maybe weakest, but summer is about over. OF course I've given you a great general rule for liquid markets.Stock market leaders are not the index/ETF, some like to pretend they are LOL.And just because it seems they ''set the low+ set the high for days'' Actually the Hunts,, long term did not set the highs or lows in silver; their big buying + forced selling did help make a mark
Markets are not ruled by anyone. Market price movement is not random. Follow my thread. I predict future price movement using a form of cycle analysis I discovered. To be honest, I have no idea why it works. https://tinyurl.com/y23rnrro