Greetings 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:
Today's Note:
It's the end of the week. So let's do some forecasting. Well, as you may have noticed. Our last week's forecast has not changed a lot. Thus, I'm still bearish currently. Although I have made some adjustments today, trying to get even a more accurate estimated possible trend waves. Needless to say, the shape of the pattern remains intact after a week. I have actually recorded the breakout to the downside in the academy series of The Art of Technical Analysis channel. In despite of educational purposes. We have actually predicted the trend trajectory of a possible forming pattern formation and also a perfect example of a death-cross before the price drop happend. We've anticipated that the BTC price action should be rejected due to finding the first confirmation of resistance of this Descending Broadening Wedge in the Beta pattern. I like to call this level, Echo Patterns.
This is another great example of why you should be careful basing your trades on shorter time frame patterns. Because bigger/stronger pattern trends, most of the times overrides shorter time frame pattern's expected breakout side. Like in this case, the Beta patterns overrides a gamma pattern. Gamma patterns are patterns within Echo patterns etc. Hence the reason I came up with the next level usage of the pattern formations method. I will make video's about this. Currently waiting for the 1st confirmation of support. As you can see, I have also tried to predict the next shorter time frame possible pattern formations and trend wave trajectories. I reckon it's not necessary diving into higher level techniques of analysis. This level of analysis is currently enough for now. Since it is the end of the week after all and our targets has been confirming so far.
You can find my video's and channel by searching on YouTube: "The Art of Technical Analysis Bryan Santos". Which is indeed my real name! You may be like, wait a sec. Santos is Spanish and not near any Asian names, well observed. However, I was born in the Philippines. Currently living in the Netherlands. As you may know about the Philippines. That, once upon a time in history, Spain tried to colonize the Philippines. Hence the reason of Spanish influence in this country such as names, culture and religion. Anyhow! I would highly appreciate if you could share, like & subscribe my channel and/or video's. Many thanks in advance!
To be concluded...
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
- Lighten colors = Support | Darken colors = Resistance
Current Pattern Formation Level:
- Alpha pattern: Symmetrical Triangle -> Bullish Pennant
- Beta pattern: Descending Broadening Wedge
- Possible Echo Pattern: Descending Broadening Wedge
Today's Note:
It's the end of the week. So let's do some forecasting. Well, as you may have noticed. Our last week's forecast has not changed a lot. Thus, I'm still bearish currently. Although I have made some adjustments today, trying to get even a more accurate estimated possible trend waves. Needless to say, the shape of the pattern remains intact after a week. I have actually recorded the breakout to the downside in the academy series of The Art of Technical Analysis channel. In despite of educational purposes. We have actually predicted the trend trajectory of a possible forming pattern formation and also a perfect example of a death-cross before the price drop happend. We've anticipated that the BTC price action should be rejected due to finding the first confirmation of resistance of this Descending Broadening Wedge in the Beta pattern. I like to call this level, Echo Patterns.
This is another great example of why you should be careful basing your trades on shorter time frame patterns. Because bigger/stronger pattern trends, most of the times overrides shorter time frame pattern's expected breakout side. Like in this case, the Beta patterns overrides a gamma pattern. Gamma patterns are patterns within Echo patterns etc. Hence the reason I came up with the next level usage of the pattern formations method. I will make video's about this. Currently waiting for the 1st confirmation of support. As you can see, I have also tried to predict the next shorter time frame possible pattern formations and trend wave trajectories. I reckon it's not necessary diving into higher level techniques of analysis. This level of analysis is currently enough for now. Since it is the end of the week after all and our targets has been confirming so far.
You can find my video's and channel by searching on YouTube: "The Art of Technical Analysis Bryan Santos". Which is indeed my real name! You may be like, wait a sec. Santos is Spanish and not near any Asian names, well observed. However, I was born in the Philippines. Currently living in the Netherlands. As you may know about the Philippines. That, once upon a time in history, Spain tried to colonize the Philippines. Hence the reason of Spanish influence in this country such as names, culture and religion. Anyhow! I would highly appreciate if you could share, like & subscribe my channel and/or video's. Many thanks in advance!
To be concluded...
