I used to say that I was a coinciDentist.
The Trading Masterclass #2 gave you ideas about how to spot a pending capitulation, the capitulation in progress and #3 talked about a possible sequence of targets and the best entry.
Now, let’s look at other factors such as percentages.
Less than 50% sounds like a continuation down, but not so fast, Mojo Jojo. A swing high was taken out making it even.
The question mark is on the rolling pin candle calls into question the wide range: 150-pip day from an instrument that is statistically projected to make 80% of 80pips 80% of the time?! That’s more than double.
The actual move was in a 4-hour span, almost hitting the pendulum’s overdrive bands on both sides.
After the range got printed, the next 4 attempts of going outside were immediately thrown back in.
The leg itself did not take out any daily swing highs and barely pierced through the 40% line. I think falling into a consolidation range could save the day.
I know, I know, the day is not over yet and life is not over yet.
Whoa-ooo-ooo when we die…
Every federation blames the one before.