Greetings fellow traders,
As time goes by, the markets evolve...
If your way of TA is strong, then the path will lead its way...
Today's Note:
Very busy today, going to keep it short. Looks like I'm pretty lukcy. I was actually about to to take profit, since I've reached my yesterdays target. But at that moment bitcoin was declining even further. Looking at EMI 2, stoch & rsi looking bearish, although lower time frames are entering or has entered the oversold territories. However Money Flow's velocity is declining at an alarming rate. I'm waiting for EMI 1 to close with the a red X, if EMI 1 shows more bearish continuation signals afterwards. Then we might possibly see a strong bearish reversal, heading towards the gold fib retrace. This is the 4H chart after all, in my experience this one the strongest time frames. Most of the time it overrides shorter times and even longer time frames. However this is just my experience on the bitcoin markets. Hence the reason I want to create a modified EMI to certain markets. This is simply due to the difference in history, market cap etc.
To be concluded...
Current Targets:
Exit short position / Entry long position target: $7.2K region.
Tip's/FYI:
Epilogue:
Hopefully in time and it would be my honor, when other analyst implement at least some of my systems, methods and techniques into their TA. Henceforth bringing their TA skills & abilities to the next level. I have taken a lot of information from this community. However I believe. When you take, you should also share. After all, knowledge and experience are the most valuable things in life. This is why I share my daily TA. Hopefully other will learn from it, but never use someone else's TA. Always do your own do diligence before even considering trading.
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. If you're worthy I'll follow you back!
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...
Today's Note:
Very busy today, going to keep it short. Looks like I'm pretty lukcy. I was actually about to to take profit, since I've reached my yesterdays target. But at that moment bitcoin was declining even further. Looking at EMI 2, stoch & rsi looking bearish, although lower time frames are entering or has entered the oversold territories. However Money Flow's velocity is declining at an alarming rate. I'm waiting for EMI 1 to close with the a red X, if EMI 1 shows more bearish continuation signals afterwards. Then we might possibly see a strong bearish reversal, heading towards the gold fib retrace. This is the 4H chart after all, in my experience this one the strongest time frames. Most of the time it overrides shorter times and even longer time frames. However this is just my experience on the bitcoin markets. Hence the reason I want to create a modified EMI to certain markets. This is simply due to the difference in history, market cap etc.
To be concluded...
Current Targets:
Exit short position / Entry long position target: $7.2K region.
Tip's/FYI:
- People = Psychology > Patterns > Indicators > Fundamentals. Nonetheless, all is crucial. Psychology? When you observe a chart. Ask yourself who's the most in pain? Bears or Bulls?
- Watch & learn from experienced traders and discover your style of TA. Hence develop this, imitating will only get you as far.
- The most accurate trend indicator when using logarithmic scales, are the; Relative-, Exponential-, Weighted-, Simple- and regular Moving Averages. At least use Heikin Ashi candles if you don't like MA's and vice versa or using both might be even better. The algorithms of these indicators adepts to logarithmic variables visually. Be very careful using linear tools, diagonal lines and pattern formations obviously they do not for that matter. Since they don't concern logarithmic variables.
- The trend is your friend!
- Pattern Formations is the most accurate method, when it comes to observing the behavior of buyers and sellers. If you don't understand this, don't be lazy and google. Learn this as basics, pattern formations are ideal to combine with other methods.
- Why I use the body instead of wicks when drawing patterns? Because I like to(and you should also) switch up between lines and candles and I hate to constantly change the properties... If you're an experienced analyst, you'll know this is a pain in the a... Nevertheless crucial. Figuring this out and looking at the charts with different perspectives, will give you more confidence finding the possible trends regardless of the method.
Epilogue:
Hopefully in time and it would be my honor, when other analyst implement at least some of my systems, methods and techniques into their TA. Henceforth bringing their TA skills & abilities to the next level. I have taken a lot of information from this community. However I believe. When you take, you should also share. After all, knowledge and experience are the most valuable things in life. This is why I share my daily TA. Hopefully other will learn from it, but never use someone else's TA. Always do your own do diligence before even considering trading.
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. If you're worthy I'll follow you back!
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:
Last green X was a bullish reversal, 22%-ish increase.
Comment:
Waiting for some thing like those circles to happen in the daily.
