ProwdClown

Expecting a Double Top of Sorts Similar to Recent History

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi everyone! I thought we were overdue for another publication to avoid scrolling so much to get to comments section in the previous publication. Feel free to "Make it My Own" in regards to this publication to use its indicators.



This next run-up to create a double top (of sorts) like what we've seen in history. I've identified this particular move in history with Aqua rectangles on the chart; Magenta boxes on Godmode and Yellow rectangles in Stochastic RSI .

The second run-up to create the second top may not occur (begin) for another two to seven days. Which means I'm expecting a bit more sideways action between $7,800 and $8,300 before such a move occurs. I'll elaborate more on this with multiple posts over the next 24 hours.

I also want to point out something else in regards to Wyckoff Method. In order for us to be in a Wyckoff Accumulation Schematic #1, we need to go up to the $12,500 to $13,000 price range to show a "Sign of Strength" by the last week in August to confirm it's an Accumulation Schematic #1. So, we still have time for this price action to occur.

If I'm not mistaken, the announcement for the CBOE             "ETF" will be postponed until mid to late September, 2018. Which see: https://bitcoinmagazine.com/articles/sec-puts-decision-5-bitcoin-etfs-till-september-2018/ If this is the case, my previous statement for us needing to reach $12,500 to $13,000 price range by end of August may need to be changed to "by mid September." That may provide momentum we need for the "Sign of Strength" to come to fruition. We should expect a "Back Up / Last Point of Support" move to the downside afterwards. Especially, if the ETF is rejected. That "Back Up" will not be that significant if the ETF is approved and should provide quite a bit of liquidity to the market once again for a fairly good bull run. If the ETF is rejected, I expect that "Back Up" after the "Sign of Strength" to be quite significant and a bull run will not commence until mid to late October, 2018.

For a visual picture of what I mean by a "Sign of Strength" and "Back Up / Last Point of Support," have a look at this chart in the following publication. It would also be a good idea to read the first post of comments I made in the following publication to know the difference between Accumulation Schematic #1 and #2. If the ETF is rejected, I'm expecting Accumulation Schematic #2. If accepted, I'm expecting Accumulation Schematic #1. In either case, I believe we're in an Accumulation Schematic and NOT a Distribution Schematic.

The following link is an image to provide an example of one type of Wyckoff Accumulation Schematic #1: https://i.imgur.com/gcrmXTd.png

The following link is an image to provide an example of one type of Wyckoff Accumulation Schematic #2 https://i.imgur.com/54FyNdB.png



More updates with charts to follow over the next 24 to 36 hours...

Remember, my publications are "opinion" only. You're the one who makes the decision in regards to what trades you may or may not make.
Comment: REMINDER of a chart I posted in a previous publication before I post any charts with indicators later this evening.

Comment: Pardon the new notification you're getting with this post...

The Purple lines with arrows in the post above is a Wyckoff Accumulation Schematic #1 - https://i.imgur.com/gcrmXTd.png

The Red Lines with Arrows in the post above is a Wyckoff Accumulation Schematic #2 - https://i.imgur.com/54FyNdB.png
Comment: The current 7-Day candle on the Weekly TF began on July 23, 2018. The next one begins on July 30, 2018. That's less than 24 hours away for me. Current date and time for me is 1:54am, Sunday, July 29, 2018.

I will post the 7-Day, 6-Day, 5-Day, 4-Day, 3-Day, 2-Day, Daily (1440m), 1080m, 720m and 360m TF's beginning on July 30, 2018 when we have a NEW 7-Day candle. Why? Because the indicators will move (update) when we move to a new candle.
Comment: Thought I would go ahead and post the 7-Day TF before I go to sleep. Why? For everyone to see later what the indicators look like in the 7-Day TF AFTER they update from a NEW candle when it's created.

Good night.

; )

Comment: Have a look at the 360m, 720m and 1440m TF's then I'm going to make a comment.



Note the Stochastic RSI in both the 360m and 1440m TF's. I'm expecting the Stochastic RSI in the 360m to make it all the way down to at least the 20% level before a chance for reversal. The same goes for the Phoenix ARI in the 360m TF.

I'm expecting the Stochastic RSI in the 1440m to go all the way down to at least the 20% level before a chance for reversal. However, The Phoenix ARI may remain between the 80% and 100% levels in the 1440m. Which would indicate a good chance this is a brief dip.

Why a brief dip? Odds are (when looking at the 360m and 1440m) we're about to go down a bit for sure. Possibly to the $7,400 to $7,500 range. Why? To induce margin short bet positions. Many will exercise that short a bit late; only to get liquidated by the market reversing back to the upside to induce margin long positions. Then we do go up but not as high as most people in long positions would like and we go back down afterward to liquidate margin long positions.

In regards to how far down; I'll have to get back with you on that one after the moves are implemented and we see how the indicators have reacted in the 2-Day, 3-Day and 4-Day TF's.

Have a look at the 2-Day, 3-Day and 4-Day TF's (below). The Phoenix ARI in the 3-Day TF is getting very close to the 100% level. Maybe one more 3-Day candle after the current candle before it reaches the 100% level.

The Phoenix ARI in the 4-Day TF still has more room to make it to at least the 80% level. Could go as high as the 100% level before reverting back to downside pressure. Hard to say for sure...

The Blue LSMA and Red Line have already touched the Green Line WHILE the Green Line was moving down. However, there is a CHANCE of the Green Line coming back upside one last time before reverting to downside pressure for a while. Where do we see that chance? The room we see with the Phoenix ARI in the 3-Day and 4-Day TF's. Also by what we see in the 360m TF and 1440m TF mentioned earlier. I'm referring to my comment about a chance for reversal to upside pressure when the Stochastic RSI and Phoenix ARI in the 360m TF bottoms out at 20% level or lower, there could be a chance for reversal to upside pressure one last time.

Comment: When looking at the 5-Day, 6-Day and 7-Day TF's, there's no shame in getting out now and waiting if you wanted to and waiting for a more clear/decisive signal to go long later. No shame in that at all. You can stay out at least until the Stochastic RSI in the 360m (6h) TF has reached the 20% or lower level.

Comment: If you notice the Purple Ghost in the 5-Day, 6-Day and 7-Day TF's above, they are flirting very much with exhaustion at this point. Yes, the Phoenix ARI and the Stochastic RSI both still have quite a bit of room to go up to the 80% level or higher in the 7-Day TF. However, that does not mean they MUST go up to that level at this point in time with what the Purple Ghost is telling us. The Green line is also rather high (above 80%) in the 5-Day, 6-Day and 7-Day TF's. I honestly don't see why we can't have a dip soon in order to refuel before continuing back up again.
Comment: Let's wait on the 360m and 1440m TF's to play out - in regards to current downward pressure then go from there once each one potentially bottoms out in succession.

I'm about to get some graphics cards cleaned and boxed up that I sold on eBay. I'll check back in a little later today.
Comment: By the way, the 90m TF was showing potential for going up. I just wasn't willing to risk it.

Comment: Let me be CLEAR...

The 5-Day, 6-Day and 7-Day still look promising at least until end of August in my opinion. Very promising... I'm just being cautious with the signal for downside pressure we're currently seeing on the Daily. Which could carry over into the 2-Day TF.

So, you might say I'm providing signals for "Swings" currently with the Daily as a compass instead of the 720m as a compass.
Comment: Was speaking to a good friend of mine in a PM. We both agree the long term outlook still looks good when looking at the Weekly (7-Day) TF. I still have concerns in the short term and fear of it carrying over into higher TF's. We must also consider Fundamental Analysis in regards to ETF announcement in August.

Our current price action since $5,700 reminds me of what ETHUSD looked like in 2017 when it began its long climb upward to astronomical highs. Where it had pauses going sideways in a TIGHT trading range before each leg up. There's a chance that's what is going on here.

These little dips in these tight trading ranges are doing their job at shaking people out with the price being higher the way it is now. Many expect a drop from here. I'm still leaning for more upside of at least one more leg up before a decent drop down for a couple of weeks then continue with upside pressure once again.

That $7,400 to $7,500 price range I gave earlier was a bit low in my opinion. It could dip to around $7,700 to $7,800 once more before legging up again.

Point out another thing with the Phoenix ARI and Stochastic RSI in the Daily (1440m) TF:

Comment: As much as I would like to hang around to point out potential entry, I "MUST" head out to the Post Office and run by FedEx Kinkos.

Happy Trading...

; )
Comment: Right here may not be a bad place for entry with w stop loss of 3%
Comment: Just got back... By the way... I should have posted a chart when I said, "Right here may not be a bad place for entry..." it was $7,915.

We're currently at $8,127.00



I have a bit more work to do before getting into the update I talked about with multiple time frames.
Comment: Those of you who are trading on margin (leverage) should NOT do so during a market climate like the one we're currently in. This just isn't volatile enough to make the signals clear enough on the indicators to do so. It's just not! So, you have NO BUSINESS creating NEW positions with leverage at this point in time.

The ONLY time you should even consider trading with leverage (on margin) is when it's quite obvious the market is about to move a certain way with the indicators. For example, click PLAY on the following publication: THAT was CLEAR!!! At least it was to me. ; )
Comment:
Comment: At least that's my opinion for someone who is NEW to using my style of trading with my indicators. Once you have more experience under your belt, you'll have a better idea of other times that are obvious in lower time frames.
Comment: Let this be a VALUABLE LESSON to everyone (including myself):

When the 12h (720m) and the 24h (1440m) are SCREAMING "Downward Pressure Incoming," let's be PATIENT and BELIEVE it when TREND trading.

If we were SWING trading, these swings were visible in the 90m and 180m TF's.

Here is the 12h (720m) TF:

Comment: Another chart or two coming shortly...

First, I need to make sure we AVOID CONFUSION from this day forward. I received PM's (with good reason) from people being confused by comments I post here and there on market movements regarding SWING trading and TREND trading.

Comments I made from from 24 hours ago involved SWING trading "BUT" also pointed out it was time to sell in regards to TREND trading at the same time. Yes, I pointed out several hours ago about $7,915 being a good time to get back in but that involved SWING traders and not trading the TREND. The "compass" for the TREND involves the 720m (12h) and 1440m (24h).

FROM THIS DAY FORWARD, I WILL BE MORE DESCRIPTIVE ABOUT MY COMMENTS.

MEANING, IF I'M COMMENTING ABOUT A TREND TRADE, I WILL DECLARE IT. IF I'M COMMENTING ABOUT A SWING TRADE, I WILL DECLARE IT.
Comment: CORRECTION: We should probably say the 2-Day TF is the compass for the TREND. The Daily (24h) and the 720m (12h) gave us confirmation for what we were seeing in the 2-Day TF. The 360m (6h) TF could have given one a bit more probably EXIT POINT after we signaled in the 2-Day and 1-Day TF's to have a look at the 720m and 360m for an EXIT POINT.

Charts to follow shortly... I have to respond to a buyer on eBay who won 7 of my auctions but did NOT pay for them. I began a "Resolve Issue Report" on eBay regarding that buyer and have to deal with it while re-listing those 7 items once again. Pisses me off...
Comment: Here is the Daily (24h - 1440m) chart: You will notice the exact same lines (scribble) I placed on the 12h (720m) chart remains on this Daily chart. You will also notice the Blue Scribble on Godmode was for the Blue LSMA in the 12h TF chart. When looking at the Daily (24h) chart, it's as if that blue scribble replaces the blue LSMA and now represents the Green Line on the Daily.

You will also notice there is more room for the Stochastic RSI to come down.



I had a TERRIBLE experience with a buyer on eBay who won 7 auctions of mine and did not pay within the 48 hours allotted by eBay user agreement. They were upset I did not give them more time and kept spamming me with messages. I called eBay TWICE today. Once to resolve the issue of him not paying and re-listing the items. The second time was to have eBay block him from spamming me with messages. I have over 30 messages from the guy making threats at me.

Now, I just got another message from him and apparently he was NOT blocked. I have to call eBay once again to stop them. This is ridiculous.

I'll follow up with my "Chart Posting Spree" once I finish this 3rd call to Ebay to resolve this spamming issue from this guy.
Comment: Just got off the phone with eBay and issue is resolved now. I'm baby sitting my son while my wife is at her mother's house taking care of her after her hip replacement surgery. I'm currently preparing lunch for my son and myself then will follow up with my "Chart Posting Spree" like I have done in the past for many charts with many text bubbles providing explanations of the indicators within those text bubbles.
Comment: In the mean time, pay attention to the 360m (6h) and 720m (12h) Time Frames (TF's) with Godmode and Stochastic RSI. If you do not have a pro account, you will need to make this chart in this publication by clicking the "Share" icon and choose the option to "Make it My Own." However, you will be limited as to what TF's you can choose without a pro account.
Comment: While my lunch is cooking; let me re-emphasize the following once again:

DO NOT EVEN CONSIDER A MARGIN TRADE FROM MY ANALYSIS ON TREND TRADING UNLESS IT IS OBVIOUS WE ARE COMPLETING ONE WYCOFF EVENT AND BEGINNING A NEW ONE. For example: When we are transitioning from an Automatic Rally Down to a Second Test. Another example: When we are Transitioning from a Spring and/or Test after a Spring up towards a Last Point of Support and/or Sign of Strength.

The chart (below) is an excellent example of what I mean by a transition from one event to another for margin trade. This was a completion of a Test of Support AFTER a Spring that was about to head upwards to a "Last Point of Support" or "Sign of Strength" or a simple peak of a "Rally" if it turns out this is a Wyckoff Accumulation Schematic #2. In either of those 3 cases, THE PRICE WAS SURELY GOING UP FROM THAT TEST AFTER THE SPRING. Click PLAY and you'll see what I mean.
Comment:
Comment: Just finished eating my lunch.

I'm about to begin work on the "Chart Posting Spree." While I'm working, let me provide an example of what I mean by margin trading events. One must be choosy about WHICH EVENTS they choose to margin trade. Meaning, I personally would want to keep risks as low as possible depending on the level of experience with using these indicators.

For instance, if one did not have much experience with the indicators and thought of margin trading the "Spring" event upward a piece to then short it on the way down to the "Test," it would be risky to do so if not paying close attention the entire time to know when to change from a long position to a short position at or near the top before it came down to the "Test."

It's LESS risky to choose a margin trade in other EVENTS with LARGER movements between each event.
Comment: Here's the 2 Week (14-DAY) TF: More to follow over the next several hours. I will post one more then package up 3 items I sold on eBay to take to the Post Office for shipment. I'll post the 12-Day TF next before I go to the Post Office.

Comment: The 12-Day TF shows potential for more upside pressure before exhaustion. However, we must remember in order for us to see a more reliable entry and/or exit point from signals in the higher TF's, we need to go to lower TF's to get an idea of when a particular move is close to completion or has completed already. The higher TF"s can be a "lagging" indicator at times in that regard. They are still VERY helpful to get an idea of future movement of the market but can be lagging in regard to when that movement is close to completion and about to reverse or temporarily reverse; depending on the Blue LSMA.

This 12-Day TF looks very similar to the 14-Day (2-Week) TF. So, I did not change the text much within the bubbles in that regard. I did change the LEVELS of the Purple Ghost and the Green Line.

Comment: Here's the 10-Day TF: I have to begin packaging up those 3 items sold on eBay then take them to the Post Office. I'll be back to continue my "Chart Posting Spree" soon.

Comment: 8-Day TF: Some of the wording is the same and edited in others. It would not hurt to read the same thing again in some anyway. Repetition is a good thing when learning anyway. I will follow with the 7-Day chart shortly.

Comment: Here is the 7-Day TF: I'm still looking for something of significance to report on. The 6-Day is coming up next.

Comment: 6-Day TF:

Comment: 5-Day TF: I'm getting a QUICK bite to eat then continuing with the 4-Day TF.

Comment: 4-Day TF: 3-Day coming next...

Comment: 3-Day TF: 2-Day is following up next.

Comment: 2-Day TF: Daily (1440 minute) coming up shortly. Fixing a pot of coffee first.

Comment: Before I continue with the Daily (1440 minute) TF, let me share one more thing to consider in the 2-Day TF: Be sure to look at the price action above the large blue vertical rectangles:

Comment: Daily (1440 minute) TF: 1080 minute (1080m) TF to follow shortly...

Comment: I still have the 1080m, 720m and 360m TF's to follow. Before I continue, I believe everyone can see we still have a bit more downward pressure to follow according to the Daily TF.

Now back to my chart to do the 1080m (18h) TF...
Comment: $7,297.95 to $7,364.52 is the range I expect us to drop to in my opinion. NOW, I will continue on to the 1080m TF following next.

Comment: 1080m (18h) TF: 720m (12h) to follow next...

Comment: After reading further comments, I think it's only fair for me to provide an additional disclaimer:

Some of you may have probably held while waiting for $8,910.32 to $9,367.68 range to arrive. Very possible some of you did. Which is why I have also been encouraging everyone to use Godmode to keep an eye on multiple time frames like I'm doing WHEN I ACTUALLY HAVE THE TIME TO.

WHY?

I have so much going on at the moment with the following:

Baby sitting my son while my wife stays with her mother to help her during her recovery from hip replacement surgery and breaking her arm as well when she fell. She's 82 years old. Which means, I have to be at his beck-and-call when he needs something to drink, eat, etc... He's 7 years old.

I'm selling rigs on eBay and have ran into one hick-up after another calling eBay to resolve issues. I've called eBay 3 times just today. I'm sure I will be calling them more in the near future. WHY? Because I'm slowly selling approximately 225 Graphics Cards.

I'm working on training material for a website and other things in regards to that website that I'm keeping secret for now. More information about that website will follow in the next 30 to 60 days.

There's a few other things I could mention as well. Such as re-organizing my office and cleaning it up to get it ready for mounting to large screen 4K televisions for training purposes, etc...

When my mother-n-law is better, my wife will be home to free me up to do my work without interruptions. When my GPU's are all sold, I will have less interruptions. When my training material and other things (I'm keeping secret) are completed for a website, I will have less interruptions and FINALLY be able to devote my time to providing signals in an efficient and timely manner with less interruptions.

I simply have a lot going on while trying to juggle providing halfway decent updates when I have the time to do so. Some of you may believe this. Some of you may not. Some may think I'm simply making up excuses. If that's the case, you're welcome to believe whatever you want to believe. I'm fine with that.

It's also IMPORTANT to realize the following:

Things can change in an analysis; especially when provided well in advance. Ask the professional FOREX traders. They will tell you they have closed (canceled) a trade many times due to circumstances arising after a call they made well in advance.

Bottom line: When I'm FINALLY free to do my work with less interruptions; I believe you will find my analysis to be more accurate than most. I'm not saying that to be braggadocios. I'm simply providing my opinion...

The 720m (12h) TF will be following shortly.
Comment: 720m (12h) TF: 360m (6h) TF to follow next.

Comment: For those new to following my analysis and interested in learning how to do the same as I'm doing; you can first begin by learning the rules I've laid out for an indicator in the following publication for Godmode 3.1 mod with LSMA (LTCUSD):



This may be providing too much at one time but I feel it's necessary. The following publication provides a links with BASIC information on Wyckoff Method of Analysis. You will also find a link to "FREE" ebooks on trading. Be sure to search Richard Wyckoff in that FREE link. However, PLEASE make sure to go to the first two links I provide first for a BASIC explanation of Wyckoff Method:

Comment: Finally got my son off to bed after a bath and brushing his teeth.

Here is the 360m TF. I want to point out I did not delete or alter the scribble I placed in the 720m TF after switching to the 360m TF. You are seeing the scribble untouched from the 720m TF.

We will know more once we have reversal and see where it goes.

Comment: Have a look at the 180m (3h) TF:

Comment: Still use the 12h and 6h for entry

Going back to sleep.

Comment:

Instead of $7,364.52, the price came down to $7,451.00 and appears to have found bottom. Of course this is not 100% certain but looking likely.

The 180m chart I posted 6 hours ago showed the Red Line and Blue LSMA touching Green Line WHILE it was moving up AFTER going below 20% level.

Now, the 360m chart shows the Red Line and Blue LSMA touching the Green Line WHILE it was moving up AFTER going below the 20% level. This is "typically" a good time to buy but not 100% of the time. We have to take into account what is occurring in higher time frames.

I've found in order to give yourself the opportunity to make entry and exit as close to the bottom and top as possible, one has to keep themselves in the game (so to speak) by swing trading in lower TF's; such as the 360m, 180m and 90m time frames. For most people, this is not possible because this would normally require one to be a day trader with the flexibility to view their charts and implement trades at ANY time.

For the TREND trader, you may normally want to see better confirmation of a reversal to the upside or downside in higher time frames before actually exercising your entry or exit at any given time.

No matter what kind of trader you are (TRENDY or SWINGY), one should always have safeguards in place to keep losses small and gains large. Those safe guards could be a stop loss and/or alert set with constant access to those alerts and the volume all the way up.

NOTICE: I'm going to work on an "STATUS" report for TREND traders to provide when I post updates to my publications. For example:

TERM FOR TRENDY TREND (Range)

LONG TERM (2 to 4 weeks) $8,910.32 to $9,367.68

MID TERM (1 week) $8,287.57 to $8,511.26

SHORT TERM (Within 48 hours) $7,865.28 to $8,111.96

If any of you have further suggestions. PLEASE feel free to voice them.
Comment: I'm trying something here. Each one of these rectangles are 24 hour blocks FROM CURRENT 90m CANDLE to provide a PRICE RANGE in each 24 hour block.

Comment: Pardon the additional notification from this update so close to the previous one. I thought I should add one more block (The Red one) in case that drop occurs approximately 30 to 72 hours from now.

Let me know what you think, please... ; )

Comment: Pardon again for another notification so quickly. I thought it would be important to emphasize the following:

The purpose for the Red block is if we take another drop down. We'll have a better idea if that will occur as we get closer and update the blocks accordingly.
Comment: I will be updating the 24h blocks very soon to reflect what we're seeing with the indicators.

Comment: The previous Time Frame was the 360m (6h) TF. Here's a look at what's occurring in the 720m (12h) TF. I have not edited the circles, boxes or scribble. I've only moved a text bubble over to the left.

If you're wondering why I did not post the 360m and 720m together in one post, it's because sometimes TIME MATTERS. I wanted to get the first chart out as soon as possible to let everyone know current market condition before elaborating on it further.

Comment: Here's a look at the Daily (1440m) TF: Hopefully, the Phoenix ARI does not go all the way down to 20% or lower and reverts back upward just before reaching 20% level. IF the Phoenix ARI does go all the way down to lower than 20% level in the Daily, it's likely this will carry over into the 2-Day TF as well.

I'm expecting continued downward pressure the remainder of the week until at least Sunday, August 5th. We will have to see how much the price action goes up afterward to know whether or not this downward pressure will continue into the 2-Day TF.

Comment: The 180m (3h) TF with a view of the four (4) 24 hour blocks of different colors I've placed on the chart.



Here's a look at the 45 minute (45m) TF:

Comment: 360m (6h) TF:

Comment: I "SHOULD" have adjusted the 24 hour blocks in the chart I just posted (360m TF - above). I have adjusted them in the 720m (12h) TF (below). The 12h (below) looks like we may be getting close to time for upward pressure. However, I'm still unsure if it will be a sustained period of upward pressure. We'll know more in the next couple of days.

Comment: The 360m TF:



The 45m TF once again simply to show the progress since the last time I posted it. Also to inform you I'm about to get out to pay the power bill, pick up my son from his mother-n-law's house and take him to the park to give him some time playing outside.

45m TF and 90m TF: We may have a brief dip down soon; based on the 45m TF coming close to topping out and exhausting.

Comment: In the previous post, I said, "We may have a brief dip down soon; based on the 45m TF coming close to topping out and exhausting."

Have a look at the 45m TF now: We are still within the RANGE identified with the colored 24 hour blocks. We're still waiting for "confirmation" of reversal from downside pressure to upside pressure. Preferably with the Daily (1440m) and 2-Day TF's.

Here's the 45m TF to show you how it was used to identify another dip was coming and in fact came about. Note how the Red Line and Blue LSMA touched the Green Line WHILE the Green Line was coming down; indicating downward pressure incoming. Most importantly, that contact took place with the Red Line above the 80% level.

Comment: 720m (12h) TF:



45m (0.75h) TF: This upcoming dip in the 45m TF will only be brief in my opinion.

Comment: wow...

quite obvious now this will be a Wyckoff Accumulation Schematic #2

Comment: Phoenix ARI just fell below 80% level in the 2-Day TF with that move down:

Comment: If We go too much below $6,972, there's a likelihood we go lower.

That's where I've had my Red arrow going down to for a while on the chart.

Comment: Learned a VALUABLE lesson in this current episode. WHEN the 2-Day and upward to the 10-Day Time Frames all show the Green Line coming down and the Red Line touching (or about to touch) the Green Line WHILE the Green Line is coming down, THEN GET THE HELL OUT AND WAIT. Those Time Frames (2-Day through the 10-Day) were posted on July 31st.

I was hoping this was only a brief down then back up. However, I'm beginning to have second thoughts on this. More of my opinion IN DETAIL will be provided shortly. In the mean time, here's the Daily TF:



Also have a look at the 2-Day, 3-Day and 4-Day TF's:

Comment: Daily (1440m):

Comment: 2-Day TF:

Comment: I'm currently waiting for a new Daily candle in 1 hour 35 minutes. The indicators will update then as well and give us more information into what may be coming next.
Comment: More downward pressure for the next few days... period... Have a look at the Daily (1440m) TF now. We still have at least today and tomorrow for the Phoenix ARI to reach 0.0% level.

Comment: $6,515.02 to $6,743.20

$6,743.20 is the next stop and we'll see what the indicators look like. Still definitely downward pressure reigns.

The lack of horizontal support/resistance around $6900-$7300 area, as seen in the fly up and dump down in the past two weeks, suggests to me that we could easily pop up to $7200. I k ow my shorts have SLs place just above where this bear flag broke down. Hoping for more lows with those hsorts, bit happy for them to close of we pass $7050 or thereabouts.

How many sizeable shorts are sitting there with SL?
Reply
I like your idea and I will follow you even you publish a lot, as I saw below. I think your ideas help us to get another point of view of what is happening, and also, helps us understand the indicators better.
I use Godmode as you explained how it worked and I really liked it. The fact is that sometimes it turns the other way around, you think it goes up, and suddenly, it turns again. Also, I’ve seen the slower lines trying to touch each other, cross, and go up, and suddenly, they change their direction pointing downwards. One thing is sure... The slower lines go to oversold and overbought zones, and from there, I thought about this idea playing out. Monthly Godmode is still going down, and ghost can do as it did in 2014. It goes from bottom to the middle, and down again, what makes me think it will do the same this year.
I leave you my idea here. It touches the same point I’ve found by other methods, around 2.5 - 2.6k.
I know you maybe don’t agree with me, but I keep seeing it although I see others’ ideas.

+1 Reply
Andbcoin Andbcoin
@Andbcoin, I’ve realised the % of Wave A is the same in 2014 and in 2018. Also, by looking at the orange support lines, the price goes just below the orange one in 2014, and the ending point in 2018 is the same.
Stoch RSI can remain there for some time, and there’s a divergence from 2014 to 2018 if you check the RSI and the price.
I’ve drawn the possible pattern the red and the orange lines will draw.
+1 Reply
@Andbcoin,

Thanks for sharing your "idea," Andbcoin. MUCH APPRECIATED!!! I'll have a look at the monthly and lower TF's; such as the 21-Day, 18-Day and 15-Day to see as well.
+1 Reply
Andbcoin ProwdClown
@ProwdClown, Thanks so much for your reply. I really appreciate your answers and points of view.
Keep publishing, please! ;)
+1 Reply
@Andbcoin,

The same back at cha, Andbcoin. Keep posting, please!

; )
+1 Reply
Andbcoin ProwdClown
@ProwdClown,

Thanks so much, ProwdClown.

;)
Reply
thx again for updates! any for eth?
+4 Reply
@gabi2018,

I'll provide one for ETHUSDT later this evening.
+4 Reply
Nice! Thanks for your thoughts:)
+2 Reply
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