URGENT! Limit Orders Cancelled, Here's Why!Hello, sleepless nights!
I was searching for distribution schematics and found this uncommon but perfectly matching distribution schematic.
Coupled with TOTT sell signal, i decided to cancel my limit orders and abide with TOTT, so i'm fully in cash.
Bad news is, if we take down SOW, it's game over. Right now, we are still in the channel and let's hope we don't go lower than 57.820. I remember noting this level as a SOW, now it makes more sense in a distributional context.
Right now we are getting rejected from the mid-line of this channel.
63.710 is the top of this trading range, so i expect it to be broken.
Point of control is at 61k. This is the strongest level to hold with a small violation of the channel. I wish it would hold, but that would be too easy to catch.
Bottom of the trading range is at 59.510
SOW is at 57.820
Last important level is 56.500, the infamous neck line that can put us in to coma. Loose this level and we can find ourselves at the vacinity of 50k.
Not loosing money is making money, so i'll just wait and watch closely.
The darkest hour, might be darker than you think :)))
But hey, what do i know!
Trade safe and use the f***ing stop loss!
