ETH has hit two Major Landmarks and faces a serious decision point. Considering the fast and furious journey thus far, a pullback is likely. But if it does break above, then it could jump a band or two above.
Top chart is 2D timeframe, Fib of the drop from $829 Bottom Left is 6H, parabolic fib of the rise from $120 Bottom Right is 1H, with both fibs for a closer look.
The basic concept at work here: Each "" created "" which are still in force. Every "" on a fib ratio confirms and strengthens it. The "" climb is uncommon but not unseen.
Part of my ongoing series to collect examples of my Methodology: (click links below) Chapter 1: Chapter 2: Chapter 3: Chapter 4: <= Current Example Chapter 5: Chapter 6:
What exactly are your projections MOD? (screenshot taken)
If you are a TV MOD, shouldn't you be making accurate projections ? Or are trading views standards low?
dee718
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what is your projection?
handyrocks
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This chart is just AMAZING!
EuroMotif
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@handyrocks, Thank you!
I give all credit to the Golden Ratio and Newtonian Physics.
The fibs dont always indicate a direction, but they map all of the possible turning points.
handyrocks
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@EuroMotif, Agreed. I have been following you for months now and am also a believer in the fib levels. I went back through most of your charts and took notes on what levels typically have reactions. I am an engineer by trade so I like data... I have been struggling to understand how you choose what time frame to draw your initial fib. Sometimes I see you use a 5 min chart and other times an hourly chart. Do you experiment on different time frames to see what lines up the best with recent price action and then use that as a guide through the remainder of the impulse? I have a hard time charting anything that makes sense. Then you come out with another chart correctly showing what I was trying to do and I think "there it is!". I appreciate your contributions to the crypto space!
EuroMotif
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@handyrocks, HI again, good question about fib placement. I start on the 1 min tf !
As soon as a surge occurs that does NOT fit existing fibs, I assume that was a new "Impulse" and place a fib with 0 and 1 on that swing.
Then, I look for Pings (confirmation) on 1.236 or 1.618, at the latest the by the 2.618 for a strong move.
Quite often I will have a couple of "possible" fib placements and observe which one gets the more precise confirmations.
If none of the early extensions produce Pings, then I will keep looking, or I go back and take a closer look at existing fibs.
Also, when charting an asset for the first time, I will start on the highest timeframe, say weekly, to see the entire history.
Then I start at the "beginning" to find the "big" fib series that chorales the large waves.
Next I start drilling down, paying attention to waves/turns that occurred independently of my "big" fib.
Almost always there will be another smaller fib that catches that particular movement.
So like here is an example of Gold on weekly That one fib has helped me project numerous moves over the last few years. As price nears one of those fibs, I get very alert/cautious as most often it will cause a turn.
Based on that fib, $1555 was obviously important , then came several fibs with "wave ending" fibs right around it, which caused me to proclaim 1555 a temporary top, as posted in this one
Lastly, I assume you have seen some of my "Pulse" series, where I post a particular aspect of the method, and link the original 5 "chapters" within. I use those "chapters' to collection examples continuously for study later....
handyrocks
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@EuroMotif, I forgot to say "first time poster, long time watcher"!
What exactly are your projections MOD? (screenshot taken)
If you are a TV MOD, shouldn't you be making accurate projections ? Or are trading views standards low?