BTCUSD 01 JUN 2022 ( Birds eye)
Hit that large demand spike near a previous demand zone . Also a slight divergence off of the RSI . Divergences are not a reliable trade entry signal, however it can serve as a warning of a momentary change in direction. The divergence, the volume spike, and the relationship of price to this old demand zone leads me to believe that there MIGHT be a rally. The weekly candle is still pointing to the south so I am still waiting for more conformation for any attempts at a mark up.
If you disagree and can explain why, please do. I am totally cool with that. If yo do not post your own charts and have sh**t to say, go away.
If you want to learn here are free resources. There is no magic bullet. You have to put the work in. 6-12 months of demo trading and backtesting, minimum is my recommendation. Dont use live capital if you don’t understand the market. Th market will take alllll of your money without any sympathy and you will have no recourse. Practice so that you can be self reliant and not blindly following someone over the edge of a cliff . Tale responsibility for your own life and decisions with your hard earned money.
Trading View in Replay mode is the very best way to train in TA. It takes thousands of reps. Go to Element 15 trades on Odyssey to see what backtesting looks like… Go to Pete Faders VSA if you want to learn how to read volume . TV is an awesome trading and learning platform if you are willing to putt the work in.
Sources of education:
Richard Wyckoff
Tom Williams Volume spread analysis VSA / Master the Markets
Pete Faders VSA*
Sam Seiden ( supply and demand )
Read the ticker dot com
Wyckoff analytics
PsychFX
MentFX
Element 15 trades (bitchute/odessy)
Avoid buying into weakness/supply/resistance
Avoid selling into strength/demand/support
Avoid entry when price is in middle of a range (phase B)

