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Gammichan
@gammichan
Trader, angel investor, engineer.
Joined September 2017
1.9K Following    99.8K Followers
The second local bottom in a bull run is the best one to buy imo. On the first bottom things are still trending down and you're operating in the unknown a bit, with no levels below since the low you're buying is THE low with no PA below it. On the second bottom you have some more info to work with, you have PA below you, you have evidence that people are actually buying, you have some HTF trend on your side, you have some upward momentum on your side, etc. It's a lot less scary sizing into the first LTF dip in a new HTF bull trend than it is sizing into the HTF macro bottom since to do that you're buying while things are still trending down. But on the second bottom, the HTF trend is now up. A lot easier to slam all in. So yeah, I plan to slam it if we get the 200D.
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I'm still eying the 200D (71k-ish). We almost always correct after the 50D crosses the 200D. 5 of the last 6 times we had a 10% to 22% correction immediately following. The one exception was because the ETF was approved. A 15% correction here puts us right at the 200D.
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