bonic tarafından BYBIT:BTCUSD.P sembolü için BTCUSD Inception day 6-1-2020

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.

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

Current Echo patterns:
DBW small breakout to the upside, reached resistance of Delta(DT)

Current Gamma patterns:
ABW in progress, 1st confirmation resistance established. 1st confirmation support is being established or break out to the side.

Current Theta patterns:
AT, but it unusually broke to the downside or the Gamma pattern probably override the the expectations.

Today's Note:
Been shorting since $7455 region, I was anticipating the breakout direction to the downside of the Theta(AT) pattern. Because according to the PFL rule, the Gamma patterns trends are a greater than Theta patterns to follow. As you can see, the recent small breakout of the Theta(AT) is confirming the support of the Gamma(DBW) formation. But it can also breakout to the downside very soon. Not needing a 2nd confirmation. This is the point where I focus on EMI's signals. In addition considering the PFL, it should be in fairly in line with the trend of the Delta(DT) pattern.

Keeping short position open, might see more bearish movements.

To be concluded...

Current Targets:
Exit short position / Entry long position target: $6.6K - $6.1K region.

Tip's/FYI:

People = Psychology > Patterns > Indicators > Fundamentals. Nonetheless, all is crucial.
Watch & learn from expereince traders and Discover your style of TA, hence 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.

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Epilogue:
As you may I have noticed, I trade a lot of times. This is only possible when you have honed your TA skills.
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. I have taken a lot of information from this community. However I believe. When you take, you should also share. 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:

I've seen people talking about an inverse neck & shoulder pattern. But highly doubt it, not saying it's impossible. But it's look quite a quasimodo neck & shoulder to me. To the left, textbook 101 inverse neck & shoulder pattern example.

İşlem kapandı: durdurma seviyesi:

S/l in profit zone triggered, took some profit. Going to wait until another shorting opportunity arise. kind dangerous to trade now.

İşlem aktif:

Waiting for 2nd confirmation of resistance Gamma(ABW). Then enter a short position or if does break out through resistance. I might enter a long position.

Yorum:

If bullish moves continues, inverse neck & shoulder might actually play out. But currently still in doubt.

Yorum:

Also shouldn't forget the Beta(DC/FW) pattern's trend.

Yorum:

weekly is looking bullish

Yorum:

We got a breakthrough resistance, lets see if it going to have more upwards movement. Might actually retest resistance of Beta(DC/FW) pattern.

Yorum:

İşlem aktif:

Had to re-enter short position. Dang wick triggered my s/l. Not surprised though when I I woke up. This is Btc after all.

Yorum:

Sucks, but actually lucky this thing is at the resistance and looks like the bears are rejecting the bulls now for quite some time. Most of the time that's bad news for the bulls.

Yorum:

Hopefully it's becoming a bear flag...

Yorum:

Looking pretty bullish. If the resistance of the Beta(DC/FW) patterns is not able to reject the bulls. Then we might see the Beta(DC/FW) pattern might change into a DBW, which is still bullish.