This is a series showing the power of TA and how you can be ahead of the news by weeks from using it. Take the clear pill. News comes after technicals more times than not
Here is an example of the second tweet relating to Doge from Elon and the technical behind it. Exit Liquidity
Price Hit the .71 fib, used the .236 as 1st level of support, went up halfway between the .88 and 1 fib level, used the .5 fib as support, coiled up between the .71 and .786 levels then skyrocketed Techicals over the tweets
Doge going to the 4.236 level from the initial part 3.1 fib pull. Cheesus christ
More and more technicals behind the tweets. Blows through the fib levels, using previous fibs as support levels and then finishing just above the 3.618 fib level
Trade active
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expecting us to go down to the .055 price as that is a pivot point on the daily Fibonacci Pivots. Also the most recent reverse Fib pull from the 27th high to the 18th low has our daily candle current under the .5 fib. The reverse .786 fib (snipers alley as price tends to either make it past or reverse aggressively) is also at the 1.8% higher than the previous S2 pivot point
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TP: .0559 (+1.8% higher than the pivot point) SL: .06459
Trade closed: stop reached
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Doggy Style Gone Wrong:
??What Happened?? 1. Took the trade too soon. 2. Pretty much bought the top if you look at the fib levels if the charts inverted. (2nd picture) 3. Didn't respect the higher time frame fib levels.
Take aways: 1. Inverting a chart can be helpful to counter your own bias. 2. Don't take a trade if the trains already left. (in this example buying after it broke through the fib pull top) 3. Dont try to "make a trade exist" 4. Pull fibs inside of obvious lows and highs. (3nd Picture) To see where it goes next. (could stall out hereor go up to the .0655 area) 5. Go a time frame up from the chart you are trading on when looking for an EMA cross on time frames under a day. 6. Pull out game was weak