How I mentioned in several charts back, geometry is present everywhere, even in trading.
A lot has been said about why 'Patience' & 'Discipline' are crucial ingredients in making Traders successful and produce consistent results. But, again the question is in the 'How?'- How and what could a trader do, to be more patient and disciplined? The Key to achieving these two ingredients would be to first organize the Market Analysis Process into Sequential Steps that would engage Right Brain and Left Brain activities as illustrated below:
This is where you need a mentor to guide you through a trade plan that consists of little steps that will take you through an organized process of analysing the markets.
Crucial Elements of Trading Psychology
Trading revolves around a trader's beliefs, mental state and thinking strategies. This would entail trading to be 60% psychological, including why and how you trade or which trading methodology or system you will follow for your personal success. Your psychology when trading can have a huge impact on your desired results.
BTC/USD Bitstamp TF Daily
After crash, the BTC performed a pullback in the zone that I marked in yesterday's UPDATE and at this moment is the daily candle resting at 1.618 FIBO level.
BTC/USD Bitstamp TF 4 hs. GT Multi crossed lines
BTC Global multi signal TF 4hs
In the signal you can see the crash and 3 successive pullbacks.
Marked with vertical green lines, confirmed by the break of the RSI and those pullbacks left clear (drawing a white line) that if the variation of the price of those pullbacks we divide by 3 will result in the price after many hours the price practically did not have large variations so far.
BTC/USD Coinbase TF 4 hs GT FFB pattern
It is my humble opinion that we will no longer see the BTC at these levels, this being an opportunity to think about an entry.
The first one was at 7.8k
To see more examples about other currencies / altcoins, this is the link of the previous GT post.
Thank you all for your time and reading
Have you a great weekend!