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:
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 timeframes)
Beta; Most recent relevant and biggest forming pattern within The Alpha forming pattern. FW / DC. (4-12 hour timeframes)
Delta; Most recent relevant forming patterns within The Beta pattern. (1-4 hour timeframes)
Echo; You get the picture... (15min - 60min timeframes)
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. Timeframes are estimations and not exact.
Current possible Delta patterns:
RBW , but there is a BIG DT formation in the making.
Current possible Echo patterns:
AT, Head & Shoulder.
--
Today's Note:
The bears are being generous this x-mas. Hopefully they keep it like that until new year, giving the bulls some room to build up volume .
The Echo patterns are looking quite bullish . But the first bearish patterns or signals that appears, I might close my long position while they are still in profit. Because The Delta pattern is one big bear flag , whether it becomes a DT. It's still bearish signs. So I might be looking for a good short opportunity, when it hits a top or retest of a resistance. In the meanwhile, I'll be building up some hopium for a bullish break out and staying with the current targets.
To be concluded...
Current Target:
Exit long position / Entry short position target: $7.8K - $8K 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!
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 timeframes)
Beta; Most recent relevant and biggest forming pattern within The Alpha forming pattern. FW / DC. (4-12 hour timeframes)
Delta; Most recent relevant forming patterns within The Beta pattern. (1-4 hour timeframes)
Echo; You get the picture... (15min - 60min timeframes)
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. Timeframes are estimations and not exact.
Current possible Delta patterns:
RBW , but there is a BIG DT formation in the making.
Current possible Echo patterns:
AT, Head & Shoulder.
--
Today's Note:
The bears are being generous this x-mas. Hopefully they keep it like that until new year, giving the bulls some room to build up volume .
The Echo patterns are looking quite bullish . But the first bearish patterns or signals that appears, I might close my long position while they are still in profit. Because The Delta pattern is one big bear flag , whether it becomes a DT. It's still bearish signs. So I might be looking for a good short opportunity, when it hits a top or retest of a resistance. In the meanwhile, I'll be building up some hopium for a bullish break out and staying with the current targets.
To be concluded...
Current Target:
Exit long position / Entry short position target: $7.8K - $8K 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!
Comment:
Correction: it's an inverse Head & shoulder pattern formation in the smaller time frames. But there is big head & shoulder in the making though in the longer time frames.
Comment:
EMI is giving a green X at 30min, usually a very strong signal for short-term bullish reversal.
Comment:
Head & shoulder pattern formation confirmed also, we might see more upwards movement.
Comment:
I reckon it's safe to say that support of the current Delta pattern is confirmed.
Comment:
*1st confirmation of support
Comment:
Added possible trajectory. Hopefully it goes further though :)
Trade closed: target reached:
i've reached my target, closed by s/l above entry point. Entered a short position once it went down. Pretty tight s/l just in case it would wick up again. But it continued to go down.
Comment:
Looking pretty scare, if you are longing currently.
Comment:
