BTCUSD Inception Day 5-1-2020

Greetings fellow traders,

As time goes by, the markets evolve...
If your way of TA is strong, then the path will lead its way...

More visible, more probable:

• Dashed lines; Possible forming patterns
  
• Solid lines; Confirmed patterns / Support or Resistance
  
• Dotted lines; Possible price-action trajectories / wave trend
  
• Lighten colors = Support | Darken colors = Resistance
  

' I’m trying to free your mind, Neo. But I can only show you the door. You’re the one that has to walk through it. '
~ Morpheus, The Matrix ~

With that having quoted, this is my way of keeping order in the chaos. I call it, "Pattern Formation Level( PFL )":
Alpha > Beta > Delta > Echo > Gamma > ( Secret???? )

Explanation PFL:

• Alpha; ST / Bullish Pennant pattern formation, a.k.a. "The End Game", a.k.a. "The Big Long". (Daily and higher time-frames)
  
• Beta; Most recent relevant and biggest forming pattern within The Alpha forming pattern. FW / DC. (4-24 hour time-frames)
  
• Delta; Most recent relevant forming patterns within The Beta pattern. (4-8 hour time-frames)
  
• Echo; Most recent relevant forming patterns within The Delta pattern. (1-4 hour time-frames)
  
• Gamma; You get the picture... (10-60 min. time-frames)
  
• Secret Level; Do not thread these treacherous waters. At least for master level TA skills or higher. (10 min. and lower time-frames)
  
• Eventually the PFL's are all connected. Gamma patterns combines into Echo pattern and Echo patterns combines into Delta patterns etc. Until the Alpha patterns has been formed. I'm not calling it just the Alpha for dominance in size. For as this pattern, is, the Alpha and Omega. Which will end current market cycles and start anew. From time to time, I might thread the secret level when I'm feeling gutsy.
  Additional advantage of the PFL system is, when you have to determine whether a certain pattern will have its usual breakout direction.
  
  By inserting pattern formations in the PFL as parameter. This makes it easier keeping track of which pattern formations are relevant to the current TA and entry or exit strategies.
  
  It might be hard to learn, but it is certainly easy to master.
  
  As a programmer and I like playing chess, as result to my TA. I like to look ahead as far as possible. This is only doable if you have reasonable reliable trends to follow. In time, as I gain experience in the markets. My TA skills evolves and in parallel my systems and indicators.
  

-------------------------------------
Current Delta patterns:
DT, has 1st confirmations on resistance and support levels.

Current Echo patterns:
DBW still in progress waiting for breakout
ST in progress 1st confirmation support.

Current Gamma patterns:
ST, recently breaking out to the up side. But not expecting big moves.
AT possibly in progress.

Today's Note:
Kinda leaning towards bullish. The Echo(DBW) should break out soon. Also in line with the Beta trend, so yeah definitely possible. But I reckon more consolidation up ahead before a real bullish break out is also possible. A retest of the resistance of the Delta(DT) pattern is highly possible. Not sure if retest of the resistance of the Beta(FW/DC). Gonna keep it short today. Planning to restructure the blogs to make space for other purposes without loosing track of information.

To be concluded...

Current Targets:
Exit short position / Entry long position target: $6.6K - $6K region.

Tip's/FYI:

• People = Psychology > Patterns > Indicators > Fundamentals. Nonetheless, all is crucial.
  
• Discover your style of TA and develop this. Imitating will only get you as far.
  
• The most accurate trend indicator when using logarithmic, are the; Relative-, Exponential-, Weighted-, Simple- and regular Moving Averages. At least use Heikin Ashi candles if you don't like MA's and vice versa or using both might be even better. The algorithms of these indicators adepts to logarithmic variables visually. Linear tools and pattern formations obviously do not for that matter. Since it doesn't concern logarithmic variables.
  

-------------------------------------
Epilogue:
Hopefully in time and it would be my honor, when other analyst implement my systems and techniques into their TA. Henceforth bringing their TA skills & abilities to the next level. After all, knowledge and experience are the most valuable things in life.

If you don't want to miss out on any of my daily technical analysis. Then click or tap on follow and don't forget to smash on that like button ^^, thanks in advance. In case you're wondering which indicator I'm using. She's called EMI , short for 'Epic Market Indicator' and she's a collection of diverse indicators. How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions. EMI 1 v3.0 & EMI 2 v2.0. Like any other instrument, practice makes perfect. If you have any input for EMI or questions about my way of TA(*Asian sound-effects*). Please leave a comment or DM me and I'll try to respond a.s.a.p. Be careful and good luck fellow traders, may the trend gods be with you!

Yorum:

Forgot to change current targets:
Exit long position / Enter short position: $7.5K - 7.8K

İşlem elle kapatılmış:

Took quick profit this time. The resistance of the Delta(DT) is looking strong. But nothing is for certain atm. Going to wait a bit then decide a short strategy.

Yorum:

Yorum:

EMI is bearish

Yorum:

lots of read signals

Yorum:

Looking like a ABW

bearish break out

Yorum:

PFL once again proving its worth. Smaller pattern AT unusual breakout due to a greater pattern in progress(ABW).

Yorum:

small breakout, breakout nonetheless.

Yorum:

Yorum:

Support is showing strong rejection. But ABW can still breakout to downside, it's in line with a greater pattern's trend trajectory.