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:
' 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 > Theta
Explanation PFL:
-------------------------------------
Current Alpha patterns:
The End Game: Symmetrical Triangle 1st confirmations support & resistance establish, still in progress.
Current Beta patterns:
Descending Channel or Falling Wedge has broken out, possibly evolving into a Descending Broadening Wedge
Current Delta patterns:
Ascending Broadening Wedge breaking out to the upside. Following greater pattern's trend trajectory.
Current Echo patterns:
Symmetrical Triangle, small breakout. Triggering as a contributing factor of breakout of the Beta pattern. At least It certainly helped.
Current Gamma patterns:
This level is currently too dangerous to trade. Greater patterns might break out or follow its trajectory.
Current Theta patterns:
This level is currently too dangerous to trade. Greater patterns might break out or follow its trajectory.
Today's Note:
I've seen it many times. Patterns evolving into another pattern. However, I'm still wondering if my prediction of 14th October 2019 will still play out.
Currently I'm very bullish. I reckon BTCUSD is on its way to get rejected by the resistance of the Alpha(ST) pattern formation. Once again a greater pattern overrides the most probable breakout direction of a lesser pattern. However hold your tits, because I reckon BTC is going to get rejected harshly by the bears. I want to see the bulls reaching all time high's at least above $14K until we can confirm that the bulls are back in control. Although this might only start, once we have retested the support of the Alpha(ST), hence bounce back up. As you can see on the price action chart. There are a lot of bullish sign that can trigger a big breakout, finally reaching new all time highs. I reckon the next stop will be approx. $29K-30K region. This is when I reckon, old markets cycles ends and start anew. We know one thing for sure, what goes up, must come down and vice versa as most people forget.
To leave on a positive note, I reckon people haven't missed the boat yet! There might still be a beautiful opportunity coming towards us, especially for our HODL-ers. Said this to someone before, "Eventually, we are all in this together". If you can think far enough, you'll know this make sense in many diverse rational ways.
To be concluded...
Current Targets:
Exit long position / Entry short position target: $9.6K - $10.3K region
Tip's/FYI:
Epilogue:
Hopefully in time and it would be my honor, when other analyst implement at least some of my systems, methods 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. This is why I share my daily TA. Hopefully other will learn from it, but never use someone else's TA. Always do your own do diligence before even considering trading.
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. If you're worthy I'll follow you back!
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!
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 > Theta
Explanation PFL:
- This is an additional stage of usage of the pattern formations. Some level of experience in pattern formations is required. You can also ignore this part and head straight to 'Today's Note', just read the patterns between the brackets.
- 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)
- Theta; 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 Alpha patterns:
The End Game: Symmetrical Triangle 1st confirmations support & resistance establish, still in progress.
Current Beta patterns:
Descending Channel or Falling Wedge has broken out, possibly evolving into a Descending Broadening Wedge
Current Delta patterns:
Ascending Broadening Wedge breaking out to the upside. Following greater pattern's trend trajectory.
Current Echo patterns:
Symmetrical Triangle, small breakout. Triggering as a contributing factor of breakout of the Beta pattern. At least It certainly helped.
Current Gamma patterns:
This level is currently too dangerous to trade. Greater patterns might break out or follow its trajectory.
Current Theta patterns:
This level is currently too dangerous to trade. Greater patterns might break out or follow its trajectory.
Today's Note:
I've seen it many times. Patterns evolving into another pattern. However, I'm still wondering if my prediction of 14th October 2019 will still play out.
Currently I'm very bullish. I reckon BTCUSD is on its way to get rejected by the resistance of the Alpha(ST) pattern formation. Once again a greater pattern overrides the most probable breakout direction of a lesser pattern. However hold your tits, because I reckon BTC is going to get rejected harshly by the bears. I want to see the bulls reaching all time high's at least above $14K until we can confirm that the bulls are back in control. Although this might only start, once we have retested the support of the Alpha(ST), hence bounce back up. As you can see on the price action chart. There are a lot of bullish sign that can trigger a big breakout, finally reaching new all time highs. I reckon the next stop will be approx. $29K-30K region. This is when I reckon, old markets cycles ends and start anew. We know one thing for sure, what goes up, must come down and vice versa as most people forget.
To leave on a positive note, I reckon people haven't missed the boat yet! There might still be a beautiful opportunity coming towards us, especially for our HODL-ers. Said this to someone before, "Eventually, we are all in this together". If you can think far enough, you'll know this make sense in many diverse rational ways.
To be concluded...
Current Targets:
Exit long position / Entry short position target: $9.6K - $10.3K region
Tip's/FYI:
- People = Psychology > Patterns > Indicators > Fundamentals. Nonetheless, all is crucial. Psychology? When you observe a chart. Ask yourself who's the most in pain? Bears or Bulls?
- Watch & learn from experienced 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.
- The trend is your friend!
- Pattern Formations is the most accurate method, when it comes to observing the behavior of buyers and sellers. If you don't understand this, don't be lazy and google. Learn this as basics, pattern formations are ideal to combine with other methods.
Epilogue:
Hopefully in time and it would be my honor, when other analyst implement at least some of my systems, methods 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. This is why I share my daily TA. Hopefully other will learn from it, but never use someone else's TA. Always do your own do diligence before even considering trading.
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. If you're worthy I'll follow you back!
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!
