Looking for the next Demark 9 on FARM 18hr TF
Every couple of days I make time to play with Tom Demark's 9 count theory on new coins. Last night I had a chance to overlay it across small and larger TFs and what I found was interesting. The 18HR TF was deadly. Almost every 9 that showed up on the 18HR TF was followed by a $40 or more pump 24hours to 72 hours later.
If you look at the Market Cipher B indicator on the bottom, you'll notice it's currently overbought and could trend back down. It also looks like FARM found a bottom around $153 and has been printing higher lows.
My theory is, "IF" FARM starts to trend down on the 18HR it could print another 9 on the Demark Count as early as October 19th evening (NY Time Zone) or anytime after. And if it does I'm 100% buying. If it doesn't I will continue to watch for the next 9 on the 18HR.
*** Just a theory. FARM is currently in a reversal and may not see $160(ish) ever again. It could easily keep going up now, bounce off the channel it is currently in at around $172, ride up the channel slowly, or pump up into another channel and never be seen again.
For those that aren't familiar with the Demark 9 count I highly recommend it. There are great videos out there. The concept is simple: Buy/Sell 8s & 9s for scalping entry exits short term or long term. So far I've found that each coin works with the Demark counter, its just a matter of playing with every timeframe to find which one works best.
If you look at the Market Cipher B indicator on the bottom, you'll notice it's currently overbought and could trend back down. It also looks like FARM found a bottom around $153 and has been printing higher lows.
My theory is, "IF" FARM starts to trend down on the 18HR it could print another 9 on the Demark Count as early as October 19th evening (NY Time Zone) or anytime after. And if it does I'm 100% buying. If it doesn't I will continue to watch for the next 9 on the 18HR.
*** Just a theory. FARM is currently in a reversal and may not see $160(ish) ever again. It could easily keep going up now, bounce off the channel it is currently in at around $172, ride up the channel slowly, or pump up into another channel and never be seen again.
For those that aren't familiar with the Demark 9 count I highly recommend it. There are great videos out there. The concept is simple: Buy/Sell 8s & 9s for scalping entry exits short term or long term. So far I've found that each coin works with the Demark counter, its just a matter of playing with every timeframe to find which one works best.
Comment:
I wish I could add a new chart. It's currently 10/22 and FARM is currently flashing a 7. We're one day away from a 9 and FARM is entering my buy zone. The current price is $170.