bonic tarafından BYBIT:BTCUSD.P sembolü için BTCUSD Inception day 3-1-2020, PFL system proving its worth.

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 still in progress, DT Already broke to the downside.

Current Gamma patterns:
FW unusual break out to the downside. Echo patterns proven to be greater trends to follow.

Today's Note:
Authentic Pattern Formations has been used for so long. It amazes me that barely or no people at all, noticed the connections between patterns and greater ones. After using APF all this time, it should make sense to reach a new level of this system? Indeed, henceforth I developed the PFL system. Additionally I have reached this level for quite some time now and I believe that I'm about to reach the next stage. Breakout direction probability determination. For a long time I was often uncertain if the usual expected break out direction will happen. Due to the PFL system, I have noticed that greater pattern formations overrides breakout expectations of smaller patterns. Thus giving more certainties which trend to follow. It's becoming noticeable that due to this system, I have been quite accurate with my short and long strategies in the immediate term. If you're doing this as long as I am or longer. Then I'm pretty sure, you have already noticed that long term analysis is not that challenging. This is how you separate the men from the boys ;)

I'm quite grateful for bitcoin's volatility, otherwise I would never have gained this much experience in a relative short amount of time. If you want to become (retail)trader. I suggest you should start paper-trading with bitcoin to level up your TA skills & abilities.

Always nice waking up with green double digits. Apparently the PFL system has proven its worth once again. The Gamma(FW) pattern did not breakout to the expected direction. Instead, it followed the trend of the Echo(DBW) pattern, in addition it made the Echo(DT) breakout to the expected side(Echo > Gamma patterns).

For the time being, I'm going to keep my short position open and stay with the current targets. But it looks like I might exit sooner than expected. Going to stay on alert, just in case i have to manually opt out. But to be on the safe side, I have set the s/l in profit zone. Never forget.. This, is, SPAR... eh, BITCOIN!! Anything can change in a heartbeat.

I might do a, "my top 10" or a list of crypto tubers next time with my estimation of their TA/FA skill level. Might be fun.

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.

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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!

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EMI 1 was also spot on with red X signal:

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I love it when the plan's come together, hehe.

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Great example of how dangerous lower time-frames are, within 2 hours the DT pattern changed into a possible DBW:

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Gamma(DBW) broke out to the upside, but the previous support has become resistance. Additionally the EMA-55, 30min chart is also showing resistance. Hopefully for my sake, the resistance rejects the bulls until I've reached my target :).

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Although don't forget, it did reach an important support and it actually held. So... It is quite possible for a short-term bullish reversal.

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Besides that, retesting the resistance of the Echo(DBW) should happen not too far in the future. At least when we have a solid confirmation of support.

İşlem elle kapatılmış

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took profit, didn't ride the way up. Too risky.

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Times like these. Patience is the key. Let the volume flow evolve a bit, sit back & strategies.

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Although,I am getting the idea that's hanging too long for a pump and dump.