DAILY 2/23

4H: https://www.tradingview.com/x/KypRohsD/

1H: https://www.tradingview.com/x/LHaNlWg6/

1H Ichi: https://www.tradingview.com/x/LsKih7pY/

30m: https://www.tradingview.com/x/itrcDKvK/

LLLETS GO

• 4H: Nothing I really care to add or say here, pretty good timeframe for reference but day to day theres just not much to say about it. We're below the mean of the channel, took a hard run from the meme, these candles are just out for stops... and blood.

• 1H: Still not too exciting, just more evidence of the obvious dump. The low for now is $103.31, $0.31 shy of my second largest buy order, I am very disappointed but leaving it open as well as an order at $95. I believe we'll see more pushes south today and investing a lot of hope that when it does it doesnt break the channel. In the long run, great, but below $72 is bad news. It'll be hard for price to recover from something lower and Im not interested in sweating it out. I marked out some RSI spots so those of you not too familiar can see that highly oversold (or bought) can still cause minor reversals in price. The fact that it is hitting 20 on the RSI could be a pretty good indication that we're due for a reversal, still a bull market in my book. The Ichimoku cloud is still in unconfirmed territory, too much dump to short and not enough consolidation to long.

• 30m: Again, the most informative timeframe for daily updates, in fact I just might stick to it moving forward. Pretty nice reactions to the fib through yesterday and up until now. I added the support block there this morning traced out from previous consolidation. Its weak support and I wouldnt rely on it for long, however it could also be all the support we need. If we have a candle open below it today on the 1H I will feel pretty strongly that the price will get into the mid/upper $80s, so if you are trading futures beware.

submitted by /u/drklunk
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