Be brave & not greedy to make the leap by starting to cashing out when things are fishy (S3)
This is how you keep an edge, head & shoulders above the crowd who's lag trading when they should'nt. Throwing the towel when you start trading again.
This is why you'll ever trade probabilities and not certainties.
One thing you're actually quite sure with that model, is that S4 is not an S2. You can then take a break, counting your bills.
in a 12 days consolidation so far. With a positive retrace/test of previous resistance.
Waiting for the next impulsion.
Remained amorphous. Still weak (S4) - failed micro S1 to reverse.
Bleeding heavily with the recent $BTCUSD pop. There is still no reason to speculate on the long side.
Printing a huge Lower High, Lower Low.
Update to continue this thread for educational purpose.
I've actually spread some in many other tweets, search on twitter "from:beetcoin ALTBTC" to check them out.
As my followers know, started to tweet bullish biais 5 days ago on another similar thread (cleaner chart) and longs 3 days ago in my feed.
For this educationnal thread, we can clearly see a shift from S1 range to S2 (=Risk ON)
Stopped out on many alt trades.
A loss is not an issue as long you understand and control what you are trading.
In this case S2 is on a weak start. I prefer to cut losses early, and reasses if it holds the level and show strength in few days.