Gann Analysis is probably one of the most accurate forcasting tools out there. I am placing this tool on a seasonal date of right around the Vernal Equinox which Gann stated was one of the most significant dates of any trading year. Equinox is just two days away. See previous chart just posted today called “Good Day Sunshine” for additional indicators of MACD, Stochastic, Elliot Wave and Tom DeMark Count.
don't you think when the 50ema and the 200ema cross we will go down again? thanks for your chart
JosephMoss
⋅
@erolsuleyman, That’s actually a very good question. The answer is maybe. You have to remember that the MA’s are a lagging indicator, and will lag the market price, so they are actually following the price down. Since the Tom DeMark and Gann are “leading” indicators, meaning price is following them, they take precedence amd are more powerful. In addition, there have been many times when the 50 and 200 gettting near a point of crossing, or even crossing, have acted as a point of richocet for higher prices.
When you put together ALL the indicators, GANN, Stochastic, MACD, Tom DeMark, Elliot Wave, and MA’s what the picture shows is that while we are not completely out of the woods yet, as signified by the MA’s, and Elliot indicating/needing a rise of above 9200-9300 (See my Good Day Sunshine chart just previously published), we have a VERY good chance of a high profit rise from this point with the risk/loss ratio at a minimum.
While I am a long term HODLer, if I were trading, I’d take an entry here and set appropriate stops.
erolsuleyman
⋅
@JosephMoss, Thanks John, I was a hodl but as it kept going down I was expecting to go down much further and didn't want hodl and lose the opportunity of buying back cheaper I sold at €6340 ($7,819) in a panic (fomo), it was back in that price range but was waiting on confirmation if was going up or down then suddenly we got that spike and it just kept going up! Feel really bad buying back higher, as a newbie I've never set a stop loss and nervous of doing it now, have already lost a load of money, arrgghhhh :-(
thanks for showing me the indicators you are using, on the BTC Euro we already have a cross of the 50/200ema