/biz/ - Business & Finance

>>14876654
2. Well where does that leave us now, we clearly saw the rejection for further movement on the 1HOURLY chart. We can see that price is now moving in a tight lateral range, which can be seen by the narrow BB bands on the 1HOURLY and visually on the 4HOURLY looking at the price action.
It seems most likely that if price on the 1HOURLY can convincingly hold above between the MEAN and LOWER 2.2 (which is a very narrow spread now, somewhere between 7666-8000) then a mean reversion to the 4HOURLY mean is likely. The distribution seems to trying to narrow out however, so the 4HOUR MEAN could possible drop much lower.

You could wait for the 1HOUR > 15M > 5M distribution time frames to confirm that there isn't any bearish sentiment left, then once you know that, BUY and wait to see how price reacts to the 4HOURLY MEAN (which would give you anywhere between 10-15% profit short term. If the 4HOUR mean holds (and holds according to lower timeframes) great news, you can then expect price to move to test the UPPER 4HOUR 1.25 of around ~10000.
This would all be subject to a keen eye keeping a look out for any weaknesses on lower time frames which would then confirm and reverberate on the higher time frames UPTO 4HOURLY.

>Buy if price can hold ~7825 convincingly
>Sell at ~8750
>Buy again if 4h mean hold convincingly
>Look to lower time frames to see if price is indeed moving to the upper 4h 1.25
>Confirm/deny
>Confirmed? Sell ~10000
>Denied? Sell on the attempt to push upwards so you make a slight profit.