Hello guys this is quick update on the new pattern spotted by one of my team member, this pattern is totally outstanding with price maintaining FLAG formation.
Closely looking at the market we can see a nice formation of ADAM and EVE with target pointed widely up to around 13k zone.
I will keep updating this post as market develop.
Kindly follow the suggested Buy Back zone zone on the chart if you are yet to Long on BTC and always remember to apply stop loss according to your risk mitigation.
Do know that I appreciate your effort and the time spend in reading and watching my posts and Please leave a LIKE and FOLLOW us for more updates.
Thank you
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Trade continuation we should have a test on the pattern Neckline before major drop
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Do have a look on this flag analysis, I still have so much trust a test of the top side of the flag
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Still holding on with our previous plan as we have 11k zone to be our immediate resistance and at same time a possible short zone. But incase of surprise breakout from 11k the next target will be the flag top level at 115xx to 118xx zone.
We should keep close attention to those zone.
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Hey guys enjoy this strong ETHUSD analysis.
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Hey guys keep an eyes close on LTCBTC, it may make some rapid move soon.
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Price hit first part of our danger zone at the bottom side of the EVE neckline. this is first test on this zone we may have one more re-test before major drop.
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Hey guys join our chat room to be part of our current Bitcoin discussion on going.
Act now and do not be left out.
The link can be found below on my signature zone.
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Those that follow our discussion room today must be in heavy sexy profit.
Team work pay better.
Hmmm where is this guy with volume talk.
Who added volume now. Lol keep reading textbooks. I hope you are still shorting Mr Book.
Agree with it, we called this bottom twice below 9500.. Its time to resume uptrend .. 15k could be next stop!
JABlair1230
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@Jocoin, again. another neglecting to read the volume. this run up to 10.8 is low volume
Jocoin
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@JABlair1230, If you depend on volume you will find your self the last person jumping in. price moves and volume catch up with it .. not vice-versa!
weslad
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@Jocoin, well and well and well said man you nailed it
Jocoin
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@weslad, Thanks buddy .. You doing great! Keep up good work :)
JABlair1230
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@weslad, that is absolutely not true. digging through your btc charts and all i see are bullish setup after bullish setup. volume from the pull backs would have told you that btc was not going to make a substantial move up. and how bout not removing charts from dissenting opinions? "a complete guide to volume price analysis" by anna couling. the pdf is online for free. this will show you how to spot pivots that are temporary and pivots that are reversals. goes into details about anomalies in volume and price action that show you something isnt right and a move is ahead of us.
of course you dont have to read this, but it changed my trading forever and you can free up your charts and think much clearer. volume paired with the candles shows you what is going on with the bulls and bears and who is in control.
weslad
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@JABlair1230, thank you, for your piece of advice. I do not think I need someone to tell me how to spot pivot at this age of my trading days. Its well keep reading the book you need it for your trading style to be more better. I appreciate your comment anyway.
JABlair1230
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@weslad, well all of your chart predictions fail. so maybe take a look at it. heres an excerpt:
"In Fig 4.12 we have our first anomaly which can be explained as follows. It is clear we have a wide spread up candle, and if we follow Wyckoff's third rule then this result, should be matched by an equal amount of effort. What we have instead is a big result, from little effort. This is an anomaly. After all for a wide spread up candle, we would expect to see a high volume bar, but here we have a low volume bar. Immediately the alarm bells start ringing, since something is not right here.
One question to ask is why do we have low volume when we should expect to see high volume. Is this a trap up move by the markets, or the market makers? Quite possibly, and this is where you can begin to see the power of such simple analysis. In one price bar, we can immediately see that something is wrong. There is an anomaly, because if this were a genuine move higher, then the buyers would be supporting the move higher with a high volume bar. Instead there is a low volume bar.
If we were in a long position in the market and this appeared, we would immediately start to question what is happening. For example, why has this anomaly appeared? Is it an early warning of a possible trap? This is a pattern which often occurs at the start of trading in equity markets. What is happening here is that the market makers are trying to 'feel out' the sentiment in the market. The above could be from a one minute chart for example. The market opens, then the price is pushed higher to test interest in the market from the buyers. If there is little or no buying interest, as here, then the price will be marked back down, with further price testing."
and thats for one single candle. it can be applied to all time frames.