I have put an example of the "Time At Mode" technique that is very useful and gives specific time and price targets for stocks, indexes and commodities.
Begin the analysis in the lower-left-corner at the lowest low.
Once the market has had 5 weeks without making a new low, we can conclude that a weekly uptrend has started from the lowest low.
Over time the "mode" forms where in this case there are 12 weeks at the same price. A horizontal line touches 12 different weeks (not including the first bar that declines into the low, so don't count that first bar to be conservative.
The way a trend "kicks off" after a mode has formed is to see a "range expansion" which is a rally greater than the previous weeks' range which you see in mid-May with the advance over $25 above the "bright green rectangle" from 23-25. The "range expansion" implies that the demand is strong enough to sustain a lift-off and the trend continues.
The time of the trend is the # of bars that touch the mode. The price projection of the trend is the "Range Around the Mode" which is then "added to the mode" to get the upper target.
There is a conservative mode which is the "lowest low of the mode" in an uptrend. The aggressive mode is the "highest high of the mode".
Project the range around the mode and the time of the mode, in this case 12 weeks, up from the mode.
The risk? A move back under the low of the week.
Additional entries for longs happen at 50%-75% retracements of the "Range Expansion Bar" that kicked off the trend from the mode.
Other techniques allow us to use our emotions to both double-up our position if we feel "scared" as the profits add up and we can also "exit" longs if we get "excited" about our profits. These additional techniques take some time to learn, but allow us to use our emotions as powerful indicators that are extremely reliable once you learn yourself.
I hope you all enjoyed this little example of "Time At Mode" and come to Key Hidden Levels chat room right here at TradingView to see us apply this method on a daily basis.
Cheers,
Tim West. 11:00AM EST
June 2, 2023 33.96 last
CFLT
Begin the analysis in the lower-left-corner at the lowest low.
Once the market has had 5 weeks without making a new low, we can conclude that a weekly uptrend has started from the lowest low.
Over time the "mode" forms where in this case there are 12 weeks at the same price. A horizontal line touches 12 different weeks (not including the first bar that declines into the low, so don't count that first bar to be conservative.
The way a trend "kicks off" after a mode has formed is to see a "range expansion" which is a rally greater than the previous weeks' range which you see in mid-May with the advance over $25 above the "bright green rectangle" from 23-25. The "range expansion" implies that the demand is strong enough to sustain a lift-off and the trend continues.
The time of the trend is the # of bars that touch the mode. The price projection of the trend is the "Range Around the Mode" which is then "added to the mode" to get the upper target.
There is a conservative mode which is the "lowest low of the mode" in an uptrend. The aggressive mode is the "highest high of the mode".
Project the range around the mode and the time of the mode, in this case 12 weeks, up from the mode.
The risk? A move back under the low of the week.
Additional entries for longs happen at 50%-75% retracements of the "Range Expansion Bar" that kicked off the trend from the mode.
Other techniques allow us to use our emotions to both double-up our position if we feel "scared" as the profits add up and we can also "exit" longs if we get "excited" about our profits. These additional techniques take some time to learn, but allow us to use our emotions as powerful indicators that are extremely reliable once you learn yourself.
I hope you all enjoyed this little example of "Time At Mode" and come to Key Hidden Levels chat room right here at TradingView to see us apply this method on a daily basis.
Cheers,
Tim West. 11:00AM EST
June 2, 2023 33.96 last
CFLT
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com
Here's a follow-up to the signal, just for reference.
The market can often continue higher to 2 measured targets and it can also consolidate for the amount of time of the mode. Time will tell.
Good to see support at the target zone also.
Tim
June 15, 2023 10:12AM EST