Patience Pays the Bills
The rewards are only for the vigilant; the mindful.
We’ve been on an absolute bullish tear the last few days! Nothing but up and to the right with a correction — finally — in the early morning Wednesday:
I shared a few harmonics that started the day:
The Bat, Butterfly / Anti-Cypher, and Nen Star / Anti-Gartley are on the 4hr (shared above in the larger screenshot) and then into a Crab (15min) and then possible Shark / Cypher on the 4hr and 1hr respectively.
Could have had a nice fade right after it crossed $42,000 for the first-time in a hot minute but I didn’t pull the trigger — lost opportunity for a solid short! I was not prepared and I could have been:
I don’t make the rules; I just want to profit from them!
It really is a matter of perspective folks — if you look at the Ichi Cloud formation on the 4hr, 1hr, 15min, and 1min respectively you’ll have a very different sense and feel for what price action might come to pass:
Apparently she might want to go up? I’d continue to wait for opportunities.
Finally, later in the evening, a Crab into a Shark / Cypher / Gartley (with a Dragon) on the 15min showed up. A few minutes later a Black Swan printed and I decided to jump into a trade — with that much harmonic confluence and with fundamentals pointing with a decline in the direction I wanted, a short at this point felt pretty safe.
Again, one last check on fundamentals like volume / volatility and things looked right — I put in a trade and not all of the order was picked up; but, we were in.
Now, we’d have to start planning our exit strategy.
I began to sketch out a plan and a trajectory and the $41,300 range based on fibonacci levels (0.5) looked like a good spot to take profits for a short snipe.
We were already in a good position a few minutes later:
Look at that dive! I ended getting stopped out in this one but tried again when it popped up — profit! To be honest, all the price action last night was choppy and unpredictable so getting a small win was nice. I don’t mind that one bit.
Sometimes being patient rewards you big time and sometimes it rewards you with small wins. Remember, profits build your portfolio and so even the smallest wins add up over a long period of time.
Finally, thanks for some of the feedback! I’m massaging the content and spending time trying to think about how I can make all of this very useful. Really appreciate it!
To infinity & bitcoin,