Auction to $16

21 Ara 2023

Since publishing the long idea in late August at $4.29 (orange circle) price action has zoomed up 1000%. Not bad. A number of reasons now exist to be short. They include:

1) Price action has arrived at significant support and resistance, $41.

2) RSI is @ 95 on the 5-day, 97 on the weekly chart. The highest in the history of this chart.

3) Price action is four sigmas from the Bollinger Band mean. Four! (see 5-day chart below). How significant is this? If you’re a probability nerd like myself, you’ll know. If you should take away anything from this it is, Price action will ALWAYS interact with the Mean 90% of the time (the orange middle line). Right now that price is $11.

4) Some other reasons said elsewhere.

Is it possible price action keeps going up? Sure.
Is it probable? No.

Ww

Type: trade
Risk: 2-3%
Timeframe for short: Couldn’t say




5-day Bollinger Band

29 Ara 2023

İşlem aktif

3 Oca 2024

Not

At this rate the target shall be accomplished in the days ahead.

16 Oca 2024

İşlem kapandı: hedefe ulaştı

Touched 17.30, good enough.

25 Şub 2024

İşlem aktif

Although the target was already achieved it is about to happen again. Thought you all should know because there is a ridiculous number of long ideas out there.

2-day

1 Mar 2024

İşlem aktif

(again).

2 Nis 2024

İşlem aktif

GRM resistance confirmed.

15 Nis 2024

İşlem kapandı: hedefe ulaştı

Wait for price action to fall below $8 before entering the consolidation area as shown below.

5 day

17 May 2024

Not

Had a few folks asking if this one is now a long.

no no no

11 Haz 2024

Not

Price action has entered the Gaussian channel and rejected the ceiling on the 5 day chart. in other words broken market structure confirms resistance. It is now highly likely price action continues the downward channel to test the lower side of the channel, which is between 8-9 dollars.

5 day