WyckoffMode

BTCUSD: $15,409 - $16,575 Minimum; to $20,905 - $21,042 Maximum.

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Everyone! NOTE: If you click the zoom (+) symbol at the bottom of the chart, you will be able to drag the chart as you wish to see things more clearly. You may have to click the plus (+) symbol two or more times before dragging the chart to make it easier to read text bubbles. You may simply prefer to view the screenshot I provided below to require no zooming or dragging. Simply thought I would provide a "chart" publication to point out price target ranges based on my unorthodox application of FIB Extensions using the 3-Day Time Frame. My coordinates for my FIB Extension may not make sense to you when looking at this Weekly time frame because the coordinates were created in the 3-Day time frame. The main purpose of using the Weekly time frame in this publication is for us to have a look at the indicators in the Weekly time frame. A "cleaner" version of this chart will be posted below.

The publication is labeled a "LONG" position based on what we are seeing in this Weekly Time Frame. I do not recommend using this TA for opening a long position without looking at lower time frames to see if opening a "LONG" position is suitable at this time. I'm not going to look at lower time frames to provide a signal for opening a "LONG" position. I have too many projects going on currently to keep up with lower time frames to provide a margin long signal for those late to the game. All the more reason to LEARN how to use my indicators. I'm not saying that to be arrogant! I'm simply saying what I personally believe to be obvious from my own experience. I have yet to find another group of indicators as beneficial as my own with analytics.

I'm open minded to having a look at other indicators to see how they stack up to my own. If you have created your own indicator and wish for me to have a look at it, I will. HOWEVER, I've found the "Back Test Feature" on TradingView is not as reliable of a test to determine the "reliability" of an indicator. I prefer to do my own back testing. So, if you wish to share an indicator you have created with me for back testing along side my own, I'll be happy to do so in my spare time and I will share the results in a video publication for the world to see the comparison. If you're not willing to allow the whole world to see a "comparison" in a video publication, then do not bother sharing your indicator. If you wish to give me TEMPORARY access to your indicator for "comparison," simply provide access for me to do the comparison and send me a PM letting me know you have done so.


Comment: UPDATE:

Here's the 12-Day time frame:
Comment: UPDATE:

It actually makes sense to me for us to run up to TEST this Aqua Blue Diagonal Trend Line:

Comment: UPDATE:

Here's a "Pulled Back View" of the Aqua Blue Diagonal Trend Line:
Comment: UPDATE:

A follower had the following question:

santhoshmn888
5 hours ago
@WyckoffMode, you mentioned as "GROUPS of time frames" David. May I know what are the groups of time frames to compare for short term and long term? Thanks in advance.

Thanks for all the hard work that you put forward to help others. Best in class 😫

My reply will follow with several posts...
Comment: UPDATE:

That all depends on what amount of "TIME" you have to trade -AND- what the market gives you during the "TIME" you have available to trade. NEVER force a trade! Only allow yourself to trade what the market gives you when it is time to give it to you in the particular GROUP of time frames you have "TIME" to trade.

Long Term Trend Trader (LTTT) - Investor
Mid Term Trend Trader (MTTT)
Near Term Trend Trader (NTTT)
Short Term Trend Trader (STTT)

NOTE: I’m of the opinion that ALL traders should keep 70 to 80 percent of their capital in “investment” when it comes to crypto currencies. A similar strategy can be exercised with FOREX currencies based on the amount of time you have available to trade. The percentage remaining after investment capital (20 to 30 percent) can be used for other “types” of trading based on the amount of “time” you have available to trade.

KEEP IN MIND: Most of the “money management” advice provided below is for those trading crypto currencies. I have a different strategy with FOREX currencies involving “compounding” your earnings to be covered on another platform.

Long Term Trend Trading (LTTT) - “Investor”:

Time frames typically used to provide signals for LTTT: Weekly, 2-Week, 3-Week and 4-Week time frames. However, higher time frames will be used to assist with determining the beginning, end and/or length of a long term “investment” trend for the “investor.”

Number of trades implemented and how often are they implemented in LTTT: Two (2) trades every 3 to 36 months. Depends heavily on what's seen in the indicators in the commonly used “groups” of time frames.

Capital Safeguards for LTTT: Taking your crypto off exchange is a must for this “type” of trader (investor) in order to protect your capital in the event of an exchange hack or banking crisis. I’m of the opinion you should have 70 to 80 percent of your capital used for investment and keep your crypto off exchange while leaving 20 to 30 percent of your capital on the exchange for the “type(s)” of trading you have time for exercising. If your exchange is hacked and you lose all your capital on the exchange, you should have kept your loss to no more than 20 to 30 percent because you should have kept the remaining 70 to 80 percent of your capital OFF EXCHANGE. Of course, this does not apply to you if you are only in crypto for investment purposes with absolutely no other types of trading. Which means you would keep 100% of your crypto OFF EXCHANGE.

Percentage of capital used for LTTT: 70 to 80 Percent and should be kept OFF EXCHANGE as often as possible.
Comment: UPDATE:

Mid Term Trend Trading (MTTT):

Time frames typically used to provide signals for MTTT: Two (2) different “groups” of time frames. Those groups are as follows: 2-Day, 4-Day, 6-Day and 8-Day Group and the 3-Day, 6-Day, 9-Day and 12-Day Group.

Number of trades implemented and how often are they implemented in MTTT: Two (2) trades every 1 to 18 weeks. Depends heavily on what's seen in the indicators in those commonly used “groups” of time frames.

Capital Safeguards for MTTT: Taking your crypto off exchange is optional for this “type” of trader because I’m of the opinion you should already have 70 to 80 percent of your crypto off exchange while leaving 20 to 30 percent of your capital on the exchange for the “type(s)” of trading you have time for exercising. If your exchange is hacked and you lose all your capital on the exchange, you should have kept your loss to no more than 30 percent because you should have kept the remaining 70 percent minimum of your capital OFF EXCHANGE.

Percentage of capital used for MTTT: 10 to 30 Percent; based on the amount of “time” you have to trade.
Comment: UPDATE:

Near Term Trend Trading (NTTT):

Time frames typically used to provide signals for NTTT: Daily (24h), 2-Day, 3-Day and 4-Day time frames.

Number of trades implemented and how often are they implemented in NTTT:  Two (2) trades every 24 hours to 16-Days.  Depends heavily on what's seen in the indicators in those commonly used time frames in the higher groups of time frames.

Capital Safeguards for NTTT: Taking your crypto off exchange is optional for this “type” of trader but not recommended because you may not be able to get your crypto back on the exchange soon enough to engage with your trade in an efficient and timely manner. REMEMBER: I’m of the opinion you should already have 70 to 80 percent of your crypto off exchange while leaving 20 to 30 percent of your capital on the exchange for the “type(s)” of trading you have time for exercising. If your exchange is hacked and you lose all your capital on the exchange, you should have kept your loss to no more than 30 percent because you should have kept the remaining 70 percent minimum of your capital OFF EXCHANGE.

Percentage of capital used for NTTT:  10 to 30 Percent.
Comment: UPDATE:

Short Term Trend Trading (STTT):

Time frames typically used to provide signals for STTT: Two (2) different “groups” of time frames. Those groups are as follows: 2h, 4h, 6h and 8h Group and the 90m, 3h, 6h and 12h Group.

Number of trades implemented and how often are they implemented in STTT:  Two (2) trades every 4 hours to 4-Days.  Depends heavily on what's seen in the indicators in those commonly used time frames in the higher groups of time frames.

Capital Safeguards for STTT: Taking your crypto off exchange is not recommended because you may not be able to get your crypto back on the exchange soon enough to engage with your trade in an efficient and timely manner. REMEMBER: I’m of the opinion you should already have 70 to 80 percent of your crypto off exchange while leaving 20 to 30 percent of your capital on the exchange for the “type(s)” of trading you have time for exercising. If your exchange is hacked and you lose all your capital on the exchange, you should have kept your loss to no more than 30 percent because you should have kept the remaining 70 percent minimum of your capital OFF EXCHANGE.

Percentage of capital used for STTT:  10 to 30 Percent.
Comment: UPDATE:

High Time Frame Scalping - (HTFS):  NOTE: HTFS SIGNALS WILL NOT BE PROVIDED BY ME FOR HIGH TIME FRAME SCALPING EXCEPT DURING LIVE STREAMS.

Time frames typically used to provide signals for HTFS: Two (2) different “groups” of time frames. Those groups are as follows: 15m, 30m, 60m and 120m Group and the 30m, 60m, 120m and 240m Group. This type of trading is often done with margin trading because the price movement is often large enough to cover the trading fees under the right market conditions. It’s important the proper market conditions are present before conducting this type of scalping. The correct market conditions are often determined by how much “noise” is within the indicators in the two “groups” of time frames.

Number of trades implemented and how often are they implemented in HTFS:  Two (2) trades every 30 minutes to as high as 48 hours.  Depends heavily on what's seen in the indicators in those commonly used time frames and the Short Term Group of time frames.  It also depends on if we had a trailing stop engaged after we are clearly in profit.  Which is why our second trade to exit and/or reverse position could last as long as 48 hours before my trailing stop is finally triggered; my market sell is automatically implemented and I begin a new position to the reverse if the indicators are favorable.  Sometimes, we have to be patient and wait after a trailing stop is triggered to allow the indicators to show us a more obvious directional pressure signal before opening another position.

Capital Safeguards for HTFS:  Taking your crypto off exchange is not recommended because you may not be able to get your crypto back on the exchange soon enough to engage with your trade in an efficient and timely manner. REMEMBER: I’m of the opinion you should already have 70 to 80 percent of your crypto off exchange while leaving 20 to 30 percent of your capital on the exchange for the “type(s)” of trading you have time for exercising. If your exchange is hacked and you lose all your capital on the exchange, you should have kept your loss to no more than 30 percent because you should have kept the remaining 70 percent minimum of your capital OFF EXCHANGE.

Percentage of capital used for HTFS:  5 to 10 Percent for HTFS and/or LTFS. What percentage is used for this type of trading also depends on whether or not you are engaged in other types of trading previously listed. For instance, you may have 20% of your trading capital put aside for Short Term Trend Trading (STTT) and use the other 10% of your capital on exchange when you have the time and/or see conditions are ripe for High Time Frame Scalping (HTFS) or Low Time Frame Scalping (LTFS).
Comment: UPDATE:

Low Time Frame Scalping - (LTFS):  NOTE: LTFS SIGNALS WILL NOT BE PROVIDED BY MRE FOR LOW TIME FRAME SCALPING EXCEPT DURING LIVE STREAMS.

Time frames typically used to provide signals for LTFS: Two (2) different “groups” of time frames. Those groups are as follows: 3m, 6m, 12m and 24m Group and the 5m, 10m, 20m and 60m Group. This type of trading is often done with margin trading because the price movement is often large enough to cover the trading fees under the right market conditions. It’s important the proper market conditions are present before conducting this type of scalping. The correct market conditions are often determined by how much “noise” is within the indicators in the two “groups” of time frames.

Number of trades implemented and how often are they implemented in LTFS:  Two (2) trades every 15 minutes to as high as 12 hours.  Depends heavily on what's seen in the indicators in those commonly used time frames and the Short Term Group of time frames.  It also depends on if we had a trailing stop engaged after we are clearly in profit.  Which is why our second trade to exit and/or reverse position could last as long as 48 hours before my trailing stop is finally triggered; my market sell is automatically implemented and I begin a new position to the reverse if the indicators are favorable.  Sometimes, we have to be patient and wait after a trailing stop is triggered to allow the indicators to show us a more obvious directional pressure signal before opening another position.

Capital Safeguards for LTFS:  Taking your crypto off exchange is not recommended because you may not be able to get your crypto back on the exchange soon enough to engage with your trade in an efficient and timely manner. REMEMBER: I’m of the opinion you should already have 70 to 80 percent of your crypto off exchange while leaving 20 to 30 percent of your capital on the exchange for the “type(s)” of trading you have time for exercising. If your exchange is hacked and you lose all your capital on the exchange, you should have kept your loss to no more than 30 percent because you should have kept the remaining 70 percent minimum of your capital OFF EXCHANGE.

Percentage of capital used for LTFS:  5 to 10 Percent for HTFS and/or LTFS. What percentage is used for this type of trading also depends on whether or not you are engaged in other types of trading previously listed. For instance, you may have 20% of your trading capital put aside for Short Term Trend Trading (STTT) and use the other 10% of your capital on exchange when you have the time and/or see conditions are ripe for High Time Frame Scalping (HTFS) or Low Time Frame Scalping (LTFS).
Comment: UPDATE:

I will at times receive the following comment: "Your method seems too complicated..."

Yes, something one is not familiar with can appear "complicated" at first glance. However, if you would actually invest your valuable "TIME" to analyze my content, you would eventually begin to realize my method is probably the MOST SIMPLE METHOD one could use to determine possible future price movement based on probable future upward or downward pressure seen in any GROUP(s) of time frames.

So, please do not be so quick to judge something as being "complicated" if you have not invested a little of your valuable "TIME" to see if my method is actually "complicated." If you are honest with a little of your valuable time analyzing me content, you will find my method is much more simple and logical than any other method of analytics today.
Comment: UPDATE:

REMINDER: This publication was a MID TERM GROUP ANALYSIS.

The following publication includes the Short Term Group and Near Term Group of time frames; titled, "BTCUSD: Estimated Price Targets for Pullback Identified w/Arrows."
Comment: UPDATE:

The following chart (6h, 12h, 24h and 2-Day) provides a colored arrow lined up with the corresponding same color Bollinger Band to identify my estimated target for where the price action may fall to during this brief period of downward pressure in the lower time frames before we resume our upward pressure we still see in the higher time frames.

Comment: UPDATE:

The White Upper Bollinger Band in the 2-Day Time Frame is the worse case scenario in my opinion. Which would be between $12,450 and $12,550.
Comment: UPDATE:

AGAIN: This publication was MID TERM ANALYSIS.

The following VIDEO PUBLICATION covers ONLY the 2-Day Time Frame with several important details you may want to consider. The title is, "BTCUSD: More Detailed Analysis of the 2-Day Time Frame..."
Comment: UPDATE:

This may be how Goldman Sacks CEO got his $30,000 price target:

Comment:
Comment: UPDATE:

In case you did not notice: Have a look at the pullbacks to the 0.236 and the 0.382 Fib Levels

Comment: UPDATE:

Here's the 2-Day Time Frame:
Comment: UPDATE:

A look at FIB Retracements in relation to the Bollinger Bands:

Comment: UPDATE:

New Video currently uploading... I will need to add a title and a little in the description before I publish the video after uploading. This may take another 10 minutes.
Comment: UPDATE:

BTCUSD: Only Dip & NOT a Dump When Energy Hits Level 50 in 2-Day

Comments

Agreed. From a macro perspective we may have a small shakeout right around election. This also lines up with what I see in the 3-4 day time frames using the pheonix indicators.

Always appreciate the high quality work! Thank you for your time

(also if any of you want to follow me I am working on posting TA in the shorter time frames... not as good as David himself but id be interested to see what you all think. If I start to get somewhat of a following it would also encourage me to post more lol... I use the methods learned here of course.)
+7 Reply
WyckoffMode beastedz
@beastedz,

VERY HAPPY to see someone is actively trying to use my methods. Just remember to also use GROUPS of time frames when providing signals for the lower time frames WHILE keeping in mind what's going on in GROUPS of higher time frames.

Of course, you already see what's going on in the Weekly and 9-Day time frames with our current MID TERM GROUP of time frames. We also know we can have "dips" in GROUPS of "lower" time frames WHILE fulfilling what we see in the indicators in GROUPS of "higher" time frames.

Feel free to post your ideas here at any time... ; )

Stay Awesome!

David
+1 Reply
beastedz WyckoffMode
@WyckoffMode,



Think this one played out pretty nicely so far :)
but yes I always use groups... i have found it is like switching from 2d to 3d... if you know what i mean lol
+1 Reply
WyckoffMode beastedz
@beastedz,

A bit early on the signal in the 6h and 12h but you'll much better in time. The good thing is there was not a significant drop during the period of downward pressure despite the "early" signal.
+1 Reply
beastedz WyckoffMode
@WyckoffMode,

Yeah I've found it to be a common theme that I am often a little early. This time it didnt cause loss but it has in other trades.... patience is indeed a virtue.
+1 Reply
WyckoffMode beastedz
@beastedz,

I too have had to learn this the hard way.... It takes practice, Mate!

I'm simply happy to see you putting forth effort... You will improve more and more in time just as I have improved....

Stay Awesome!

David
+1 Reply
santhoshmn888 WyckoffMode
@WyckoffMode, you mentioned as "GROUPS of time frames" David. May I know what are the groups of time frames to compare for short term and long term? Thanks in advance.

Thanks for all the hard work that you put forward to help others. Best in class 😫
Reply
WyckoffMode santhoshmn888
@santhoshmn888,

That all depends on what amount of "TIME" you have to trade -AND- what the market gives you during the "TIME" you have available to trade. NEVER force a trade! Only allow yourself to trade what the market gives you when it is time to give it to you in the particular GROUP of time frames you have "TIME" to trade.

Long Term Trend Trader (LTTT) - Investor
Mid Term Trend Trader (MTTT)
Near Term Trend Trader (NTTT)
Short Term Trend Trader (STTT)

NOTE: I’m of the opinion that ALL traders should keep 70 to 80 percent of their capital in “investment” when it comes to crypto currencies. A similar strategy can be exercised with FOREX currencies based on the amount of time you have available to trade. The percentage remaining after investment capital (20 to 30 percent) can be used for other “types” of trading based on the amount of “time” you have available to trade.

KEEP IN MIND: Most of the “money management” advice provided below is for those trading crypto currencies. I have a different strategy with FOREX currencies involving “compounding” your earnings to be covered on another platform.

Long Term Trend Trading (LTTT) - “Investor”:

Time frames typically used to provide signals for LTTT: Weekly, 2-Week, 3-Week and 4-Week time frames. However, higher time frames will be used to assist with determining the beginning, end and/or length of a long term “investment” trend for the “investor.”

Number of trades implemented and how often are they implemented in LTTT:  Two (2) trades every 3 to 36 months.  Depends heavily on what's seen in the indicators in the commonly used “groups” of time frames.

Capital Safeguards for LTTT:  Taking your crypto off exchange is a must for this “type” of trader (investor) in order to protect your capital in the event of an exchange hack or banking crisis. I’m of the opinion you should have 70 to 80 percent of your capital used for investment and keep your crypto off exchange while leaving 20 to 30 percent of your capital on the exchange for the “type(s)” of trading you have time for exercising. If your exchange is hacked and you lose all your capital on the exchange, you should have kept your loss to no more than 20 to 30 percent because you should have kept the remaining 70 to 80 percent of your capital OFF EXCHANGE. Of course, this does not apply to you if you are only in crypto for investment purposes with absolutely no other types of trading. Which means you would keep 100% of your crypto OFF EXCHANGE.

Percentage of capital used for LTTT:  70 to 80 Percent and should be kept OFF EXCHANGE as often as possible.
+4 Reply
WyckoffMode santhoshmn888
@santhoshmn888,

Mid Term Trend Trading (MTTT):

Time frames typically used to provide signals for MTTT: Two (2) different “groups” of time frames. Those groups are as follows: 2-Day, 4-Day, 6-Day and 8-Day Group and the 3-Day, 6-Day, 9-Day and 12-Day Group.

Number of trades implemented and how often are they implemented in MTTT:  Two (2) trades every 1 to 18 weeks.  Depends heavily on what's seen in the indicators in those commonly used “groups” of time frames.

Capital Safeguards for MTTT:  Taking your crypto off exchange is optional for this “type” of trader because I’m of the opinion you should already have 70 to 80 percent of your crypto off exchange while leaving 20 to 30 percent of your capital on the exchange for the “type(s)” of trading you have time for exercising. If your exchange is hacked and you lose all your capital on the exchange, you should have kept your loss to no more than 30 percent because you should have kept the remaining 70 percent minimum of your capital OFF EXCHANGE.

Percentage of capital used for MTTT:  10 to 30 Percent; based on the amount of “time” you have to trade.
+2 Reply
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