Current Price Action Looks Similar to End of April, 2019...
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We may actually see a strong push upward the first part of September, 2020 in between $14,611.32 and $17,150.99 then see a pullback in mid to late September before resuming upward pressure again toward the end of 2020; where we test all time high ( ATH ). REMINDER: This analysis is Near, Mid and Long Term TA. This is NOT intended for use as Short Term or Scalping TA.
Comment:
UPDATE:
I simply do NOT want to ASSUME the price action will play out similar to what we saw in April, 2019 just because the indicators are looking similar. Well, let's put it this way... "I do not want to draw a conclusion too soon because of the current situation at the moment with the White Energy and Green Line in the 12 hour time frame WHILE THE WHITE ENERGY IN THE WEEKLY IS GETTING DANGEROUSLY CLOSE TO THE 50% LEVEL.
Let's see a transition from bearish to bullish sentiment in the 12 hour time frame FIRST before attempting to draw a conclusion of a Near Term to Mid Term Bull Trend to $14,611.32.
I simply do NOT want to ASSUME the price action will play out similar to what we saw in April, 2019 just because the indicators are looking similar. Well, let's put it this way... "I do not want to draw a conclusion too soon because of the current situation at the moment with the White Energy and Green Line in the 12 hour time frame WHILE THE WHITE ENERGY IN THE WEEKLY IS GETTING DANGEROUSLY CLOSE TO THE 50% LEVEL.
Let's see a transition from bearish to bullish sentiment in the 12 hour time frame FIRST before attempting to draw a conclusion of a Near Term to Mid Term Bull Trend to $14,611.32.
Comment:
I want to hit myself up side the head for not noticing this and emphasizing this earlier... I suppose that's what having only 2 hours of sleep will do to you...
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Thank you sir. Always learning from ya and day after day proving the merit of your indicators. Question I hope you can answer in future posts:
1- What do the white energy and green line represent? What I gathered from your videos is that the white energy is a volume based indicator, but i can't fully understand the green energy line.
2- Do we treat the blue LSME line similar to a moving average, so a break above is bullish, a break below bearish?
3- why does the green line need to make it above the white energy?
Again, no need to answer right now as i know you have a lot going on, just in the future posts. I really appreciate you David!
1- What do the white energy and green line represent? What I gathered from your videos is that the white energy is a volume based indicator, but i can't fully understand the green energy line.
2- Do we treat the blue LSME line similar to a moving average, so a break above is bullish, a break below bearish?
3- why does the green line need to make it above the white energy?
Again, no need to answer right now as i know you have a lot going on, just in the future posts. I really appreciate you David!
Reply
@Hus88114,
The White Energy does measure VOLUME and MOMENTUM. Not getting into the mathematical equation it uses to do so.
The Green Line is an Exponential Moving Average. What "average" it's setup for depends on what the inputs are setup for. KEEP the inputs where they are (6, 9 and 3 with 32 for the LSMA).
LSMA represents "Least Squared Moving Average." You can google that to get more details to understand it better.
You asked, "why does the green line need to make it above the white energy?" In order for the price action to become BULLISH in the time frame in question, the Green Line needs to be a higher level than the White Energy.
The White Energy does measure VOLUME and MOMENTUM. Not getting into the mathematical equation it uses to do so.
The Green Line is an Exponential Moving Average. What "average" it's setup for depends on what the inputs are setup for. KEEP the inputs where they are (6, 9 and 3 with 32 for the LSMA).
LSMA represents "Least Squared Moving Average." You can google that to get more details to understand it better.
You asked, "why does the green line need to make it above the white energy?" In order for the price action to become BULLISH in the time frame in question, the Green Line needs to be a higher level than the White Energy.
Reply
@Hus88114,
Thank you... You're very kind...
By the way, have a look at the NEW 3 minute video for BTCUSD I just posted...
Thank you... You're very kind...
By the way, have a look at the NEW 3 minute video for BTCUSD I just posted...
Reply
Reply
@insidethesun,
Sure, You're very welcome...
However, I need you to check out the NEW 3 Minute video I just posted.
It's VERY IMPORTANT...
Sure, You're very welcome...
However, I need you to check out the NEW 3 Minute video I just posted.
It's VERY IMPORTANT...
Reply
Hi David.
Thanks for the Update.
Actually, I wasn't comfortable with today's price actions, so by using your rules like cascading and etc I already concluded that we need to see the White Energy closes above the %50 in 24H before the Red RSI in 2Days crosses below 50%.
Now I am really happy cause after this publication, I see that I got familiar with the indicators more or less.
Thank you again.
Best Regards
Thanks for the Update.
Actually, I wasn't comfortable with today's price actions, so by using your rules like cascading and etc I already concluded that we need to see the White Energy closes above the %50 in 24H before the Red RSI in 2Days crosses below 50%.
Now I am really happy cause after this publication, I see that I got familiar with the indicators more or less.
Thank you again.
Best Regards
Reply
We are watching the White Energy and Green Line in the 6h and 12h time frames in a similar way we are watching them for ADAUSDT.
Why?
The White Energy is a higher level than the Green Line in the 6h and 12h time frames. We need the Green Line to go out to the side at some point to allow time for the White Energy to fall below the Green Line to have a bullish stance rather than continue in the current bearish stance we are in.