Welcome 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
(Yeah, I skipped Charlie... It just sounds cooler like this, right? ^^ )
Explanation PFL:
Current possible Delta patterns:
RBW, but there is a bigger pattern formation in the making a DT
Current possible Echo patterns:
I reckon it's a DT, it doesn't look wedgy enough? Otherwise it's a FW vs DT. But I'm obviously biased towards DT.
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Today's Note:
Somehow it's still strange to reenter a short position after exiting one. But I'm quite bearish, since I think it's a DT. I've entered a small short position if the resistance holds. I will add more to my position. If the retest of the support fails, i'll might add a bit more. It's currently very tricky to trade, regardless of the low risk/reward at the resistance. I still have a tight s/l due to the bullish patterns. There is a pretty clear descending(-ish) channel. Which has a higher potential of bullish breakout. Definitely being cautious. In the meanwhile gonna let the market mature a bit and add some updates during the day.
To be concluded...
Current Target:
If support fails; Exit short position / Entry long position target: $6.5K - $6.1K region.
If support holds; Exit short position / Entry long position target: $7.1K - $7K region.
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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!
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
' 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
(Yeah, I skipped Charlie... It just sounds cooler like this, right? ^^ )
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. (4-12 hour time-frames)
- Delta; Most recent relevant forming patterns within The Beta pattern. (1-4 hour time-frames)
- Echo; You get the picture... (15min - 60min time-frames)
- Eventually the PFL's are all connected. When the last beta, delta and echo patterns are confirmed. This should form and confirm the most recent forming Alpha pattern.
I'm a programmer and I like playing chess. As result to my TA, I like to look ahead as far as possible. You can only do this if you have reliable trends to follow. That's why I came up with this system. Time-frames are estimations and not exact.
Current possible Delta patterns:
RBW, but there is a bigger pattern formation in the making a DT
Current possible Echo patterns:
I reckon it's a DT, it doesn't look wedgy enough? Otherwise it's a FW vs DT. But I'm obviously biased towards DT.
-----------------
Today's Note:
Somehow it's still strange to reenter a short position after exiting one. But I'm quite bearish, since I think it's a DT. I've entered a small short position if the resistance holds. I will add more to my position. If the retest of the support fails, i'll might add a bit more. It's currently very tricky to trade, regardless of the low risk/reward at the resistance. I still have a tight s/l due to the bullish patterns. There is a pretty clear descending(-ish) channel. Which has a higher potential of bullish breakout. Definitely being cautious. In the meanwhile gonna let the market mature a bit and add some updates during the day.
To be concluded...
Current Target:
If support fails; Exit short position / Entry long position target: $6.5K - $6.1K region.
If support holds; Exit short position / Entry long position target: $7.1K - $7K region.
-----------------
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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Just woke up, it's a miracle my s/l hasn't been triggered yet... But it's looking pretty bad for my position. But anything can happen at this point.
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Trend gods please, go lower ^^.
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So far pretty point on possible trajectory. BUT it's still bitcoin <3...
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Might be biased but it's looking bearish.
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