ETH - Green-Red-Blue Flying on Phoenix Ascending-Bullish🚀
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I Guess we don't have an indicator to cover for Elon's Tweets #Bitcoin Broken heart :(
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I figured out that you need to look at higher time frames to look for opportunities. Here is an example right now ETH on the 4Hour So We look for the Green Line to Pierce the Red, that's Get Ready. They Green about to pierce the Blue is Get In Confirmation. Happens to coincide with descending channel breakout to the upside. Still learning. I will post the schene to look for loss of momentum and reversal signal next here
I am Still Bullish. We just had to test that 2600 a few more times. Time to head North Next
toddreg
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Can you interpret this please?
Triangle_Traders
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@toddreg, Ok I must admit that this is the first time for me using the Phoenix Ascending Oscillator >
by WyckoffMode tradingview.com/u/WyckoffMode/
Look there for the rules but when you have red green blue in that order crossing up into and above 50% it means it's bullish, ie BB Bands expand and price moves up
Also if the Order is Blue Red Green below the 50% that would indicate Bearish. The trick is to use multiple timeframes to predict these crossings and if you use Wyckoff Mode Bad ass Bollinger Indicator you can predict the price action changes within the bands . Incredibly useful, David is a Genius
Bollinger Bands (Bad Ass B-Bands) - Wyckoff Mode
tradingview.com/u/WyckoffMode/#published-scripts
toddreg
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@videosims @videosims @videosims i am going to have to study up on this. Thanks for the explanation.
Triangle_Traders
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@toddreg, I figured out that you need to look at higher time frames to look for opportunities. Here is an example right now ETH on the 4Hour
So We look for the Green Line to Pierce the Red, that's Get Ready. They Green about to pierce the Blue is Get In Confirmation. Happens to coincide with descending channel breakout to the upside. Still learning. I will post the schene to look for loss of momentum and reversal signal next here