ETHUSD Order Flow - OFA Script Points To 2.1k Target
Hey traders,
This is just a follow up analysis from different timeframe ideas to reinforce my stance for longs in ETHUSD.
The ultimate target is 2.1k. I will let you see the ETHUSD chart, with the OFA script attached to it, to show you what’s the current state of affairs.
The long bias is well supported via the DIAMOND pattern on the weekly or the new impulsive wave backed up by the CIRCLE off the daily.
Anyone supporting this long view should already be in this market as the reward in coming weeks can be quite something.
Also check the linked analysis on ETHUSD as we were getting ready to enter this trade for weeks.
Remember the two key main features of the OFA script :
Magnitude: A major clue that will help determine the health of a trend is the type of progress by the dominant side in control of the trend. We need to ask the following question: Are the new legs in the active buy-sell side campaign as identified by the script increasing or decreasing in magnitude?
Velocity: When it comes to the distance the price moves, the magnitude is only ½ the equation. The other ½ has to do with the velocity of the move or the speed. Was the new leg created after a fast and impulsive move? Or did price make a new low or high with the movement being sluggish, compressive and taking too long to form? A good rule of thumb is to count the number of candles it took to achieve a new leg.
DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
This is just a follow up analysis from different timeframe ideas to reinforce my stance for longs in ETHUSD.
The ultimate target is 2.1k. I will let you see the ETHUSD chart, with the OFA script attached to it, to show you what’s the current state of affairs.
The long bias is well supported via the DIAMOND pattern on the weekly or the new impulsive wave backed up by the CIRCLE off the daily.
Anyone supporting this long view should already be in this market as the reward in coming weeks can be quite something.
Also check the linked analysis on ETHUSD as we were getting ready to enter this trade for weeks.
Remember the two key main features of the OFA script :
Magnitude: A major clue that will help determine the health of a trend is the type of progress by the dominant side in control of the trend. We need to ask the following question: Are the new legs in the active buy-sell side campaign as identified by the script increasing or decreasing in magnitude?
Velocity: When it comes to the distance the price moves, the magnitude is only ½ the equation. The other ½ has to do with the velocity of the move or the speed. Was the new leg created after a fast and impulsive move? Or did price make a new low or high with the movement being sluggish, compressive and taking too long to form? A good rule of thumb is to count the number of candles it took to achieve a new leg.
DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
👉👉 Join The OFA Inner Circle:
📓📓Learn Order Flow like a PRO:
www.ofa-course.com
🧑🏫🧑🏫 Author of the #1 Order Flow Script:
www.tradingview.com/script/WhQSEfKT-OFA-Order-Flow-Analysis
📧📧 DM me if doubts (100% response rate)
📓📓Learn Order Flow like a PRO:
www.ofa-course.com
🧑🏫🧑🏫 Author of the #1 Order Flow Script:
www.tradingview.com/script/WhQSEfKT-OFA-Order-Flow-Analysis
📧📧 DM me if doubts (100% response rate)
