Next Week Gravity Points + Expected Move ($40)
Updated
Last week's Expected Move was $47, this week contracted and is only $40.
Last week's price action was an excellent example of why I use these two tools in concert with each other.
Starting off the week we sprinted down and traded into the lower Gravity Point, just above the lower $47 Expected Move. Almost on the button we turned around and ran up to the next Gravity Point, consolidated there for a day, before finally running up to tag the Upper $47 Expected Move twice.
I've refrained from making a Long/Short call for a few weeks here and I think the odds are favorable on the short side coming into this next week. That is under the condition that we trade up to the $2731 Gravity Point because technically speaking the bull momentum is still strong and we're still trading inside of the Blue Channel. However, I think the R/R is significant for a bearish position. The 200 Day Moving Average is also roughly right where the $2731 Gravity Point is.
Goodluck next week Gentlemen.
- RH
Last week's price action was an excellent example of why I use these two tools in concert with each other.
Starting off the week we sprinted down and traded into the lower Gravity Point, just above the lower $47 Expected Move. Almost on the button we turned around and ran up to the next Gravity Point, consolidated there for a day, before finally running up to tag the Upper $47 Expected Move twice.
I've refrained from making a Long/Short call for a few weeks here and I think the odds are favorable on the short side coming into this next week. That is under the condition that we trade up to the $2731 Gravity Point because technically speaking the bull momentum is still strong and we're still trading inside of the Blue Channel. However, I think the R/R is significant for a bearish position. The 200 Day Moving Average is also roughly right where the $2731 Gravity Point is.
Goodluck next week Gentlemen.
- RH
Note
Last Week's Post
Note
Update:We've hit my $2,731 Gravity Point.
Note
This is just beautiful. Bulls & Bears battling here right on $2,731Note
This should be getting more views than your run-of-the mill Bitcoin public post.. but my 100-200 views vs. the 5,000-10,000 numbers don't lie. Either way it's been a very good week. Hope you all did well.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.