ADA: Our Peak for SIgn of Strength Proximity to 59 to 61 Cents
Hi Everyone! Hope everyone is doing okay. In this publication, I provided an explanation as to "why" my FIB's are currently NOT "based on log scale" even though my chart is in log scale. I explained "why" I have two (2) FIB's as well; in order to create a target range. The FIB on the right has the 1.0 FIB coordinate at the highest wick and the 0.0 coordinate is placed at the lowest wick before going up. The FIB on the left still has the 0.0 coordinate placed on the lowest wick. However, the 1.0 coordinate is placed at the highest "close." This allows me to get a price "range" on my FIB 1.618 FIB Extension. That range is $0.5942 to $0.6111.
I also provided examples of how to look for bullish divergence and bearish divergence when using my Phoenix Ascending indicator. When the price is "rising," it is important to pay attention to the "tops" of the White Energy in each time frame. When the price is "falling," it is important to pay attention to the "bottoms" of the White Energy.
If the price is "rising" and the "tops" of the White Energy is "falling," this indicates potential for "bearish" divergence approaching. If the price is "falling" and the "bottoms" of the White Energy is "rising," this indicates potential for "bullish" divergence. If you do not see bullish or bearish divergence in a specific time frame, it may require more time to pass in order to see divergence in that time frame. In which case, you should look at lower time frames to see if the potential for bullish or bearish divergence is forming.
Here is the Weekly time frame I covered briefly in the video regarding bullish and bearish divergence:
RED TEXT BUBBLE:
If you do not see "divergence" in this higher Weekly Time Frame,
look at lower time frames for "divergence." Do not assume we
do not have "divergence" when you don't see it in a time frame.
You will usually find divergence in other time frames to assist you.
GRAY TEXT BUBBLE:
When we have the "tops" of the white energy "descending" while the
price action is ascending (rising), this indicates bearish divergence.
So, it's possible we could have a rather long period hanging out just
$0.45 cents before we finally have a breakout with Sign of Strength.
AQUA TEXT BUBBLE:
When we have the "bottom" of the white energy "rising" while the
price action is descending (falling), this indicates bullish divergence.
So, it's possible we could have a rather long period hanging out just
$0.45 cents before we finally have a breakout with Sign of Strength.
I'm labeling this as publication as a LONG position. However, please realize this is in regard to the Near to Mid Term. NOT the Short Term. The main reason for labeling this a LONG position is due to where I believe we are currently within a 2-Tiered Wyckoff Accumulation Schematic.
We will require more data from the indicators once we get a new Weekly candle. What kind of data? Well, we want to see what level the White Energy is in the next Weekly candle. We will want to see if we have bearish and/or bullish divergence in time frames lower than the Weekly as well to determine if we will have a prolonged "Last Point of Support" before finally seeing a breakout with a Sign of Strength event. Etc...
I hope this publication was helpful.
Happy Trading and Stay Awesome!
David
I also provided examples of how to look for bullish divergence and bearish divergence when using my Phoenix Ascending indicator. When the price is "rising," it is important to pay attention to the "tops" of the White Energy in each time frame. When the price is "falling," it is important to pay attention to the "bottoms" of the White Energy.
If the price is "rising" and the "tops" of the White Energy is "falling," this indicates potential for "bearish" divergence approaching. If the price is "falling" and the "bottoms" of the White Energy is "rising," this indicates potential for "bullish" divergence. If you do not see bullish or bearish divergence in a specific time frame, it may require more time to pass in order to see divergence in that time frame. In which case, you should look at lower time frames to see if the potential for bullish or bearish divergence is forming.
Here is the Weekly time frame I covered briefly in the video regarding bullish and bearish divergence:
RED TEXT BUBBLE:
If you do not see "divergence" in this higher Weekly Time Frame,
look at lower time frames for "divergence." Do not assume we
do not have "divergence" when you don't see it in a time frame.
You will usually find divergence in other time frames to assist you.
GRAY TEXT BUBBLE:
When we have the "tops" of the white energy "descending" while the
price action is ascending (rising), this indicates bearish divergence.
So, it's possible we could have a rather long period hanging out just
$0.45 cents before we finally have a breakout with Sign of Strength.
AQUA TEXT BUBBLE:
When we have the "bottom" of the white energy "rising" while the
price action is descending (falling), this indicates bullish divergence.
So, it's possible we could have a rather long period hanging out just
$0.45 cents before we finally have a breakout with Sign of Strength.
I'm labeling this as publication as a LONG position. However, please realize this is in regard to the Near to Mid Term. NOT the Short Term. The main reason for labeling this a LONG position is due to where I believe we are currently within a 2-Tiered Wyckoff Accumulation Schematic.
We will require more data from the indicators once we get a new Weekly candle. What kind of data? Well, we want to see what level the White Energy is in the next Weekly candle. We will want to see if we have bearish and/or bullish divergence in time frames lower than the Weekly as well to determine if we will have a prolonged "Last Point of Support" before finally seeing a breakout with a Sign of Strength event. Etc...
I hope this publication was helpful.
Happy Trading and Stay Awesome!
David
Comment:
UPDATE:
ADAUSDT 2-hour time frame:
ADAUSDT 2-hour time frame:
I know the following Wyckoff Method History of Cardano is likely "busy" to most of you; but it makes sense to me. Thought I would post it as well for those who understand the chart.