Updated: Feb 16
Hello Riders, these are the key messages of this week:
So far so good.
1. SPX and NASDSAQ continue to consolidate above the divider band but still below the resistance line.
2. The divider band is getting bullish, we see how the green line has crossed over the red line in SPX (yet to be confirmed, need a couple more weeks or a very bullish one), Bitcoin and Altcoins.
3. Until the resistance line of point 1 in SPX and NASDAQ is broken, it would be totally normal for the price to correct itself and try to touch the divider band to turn it into support. In fact this would be ideal.
4. Because of this, I will only be trading 4 hour trades or less and will buy more spot positions if the divider band turns support.
5. It is very important to monitor the Rider Band on the 1D chart. Let's remember that during a bull market the Rider Band acts as an ideal support for the next bullish movement, so if we are shorting, when the asset touches the rider band it is a good time to take profits and on the other hand if we want to go long it would be a good time to look for longs
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-------------------------------- 4 Assets 1W Chart:
1D Chart Example (Point #5) This pattern is very common during a Bull Run, chances for a bounce and bullish continuation are specially high when a bullish circle appears on our Trend Oscillator close to the rider band and money flow still green.
Altcoins: The Pattern I am most interested
Shared this one on discord a few days ago. Some coins already broke pattern resistance and are flying.
The overall idea here is to wait for resistance line to break to enter positions.
Here is a list of coins with a similar pattern forming (a few of them already broke line)