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BTC/USD Trend DNA Analysis

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Advance Harmonic Trading BTC /USD

INTRO
we have traced three different harmonic bullish patterns,
Green one which is the biggest cover area from DEC 2017 until October 2020
we name it Parent pattern be cos of wide area of coverage. (helps with finding Future target point).
second one which is pink covers area from Jun 2019 till Jun 2020. (helps current movement).
the last pattern smallest is light blue covers area from July 2019 till may 2020. (helps with creating similar channel)
we name two small patterns child. remember child inherit parents behavior so the trend DNA of child come from parent trend DNA.

Methodology
NAME : Parent DNA
The D-point represents the reversal zone and this is where you buying or selling.
By overlapping different patterns confirmed from different Fib coordinates (0,618 and 0.786) separate channels are created,
supposedly price is moving between that channels to follow the Parent DNA pattern which is the trend line .

Analysis
To reveal the profit targets we placed Fibonacci retracement tool for each pattern.
if the price break down the current level before reaching the target "D" it moves
inside lower channel created from Parent or child pattern,if the price pushed to break out
the current channel before reaching "D" it jumps to higher channel to continue the trend.
Zoom in/out to read the analysis.

stop loss is placed few pips above point D.
The safe target lies within 38.2 – 61.8% of AD move.
Accumulation/distribution (A/D) analysis help you to determine your situation as well. top bar show where the is volume to trade (Blue line)

if you find it helpful please let me know, if you have any question don't hesitate to ask .
like if like the idea , comment to share your idea .


cheers

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Comments

chart zoomed out ( 31/05/2020) almost as expected .
Reply
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