When we simplify the chart with Renko, we encounter a elliott wave.
I think the harmonic pattern is completed in the monthly period.
Even if the downward movement continues from here, the price is at an all-time low.
From time to time there may be manipulation movements. Or Btc can drag it downwards. But still this will be short-lived. Such a situation can be evaluated with a little cash. Due to Btc's manipulation of altcoins so much, the stop loss does not make sense to me for commodities like this, which are already below all time in price.
Collecting goods by making piecemeal purchases by staying in cash instead of stop loss is an approach that seems more correct to me. Buying and selling does not seem right for me because the price is at the bottom.
Therefore, collecting goods from these places instead of daily trading is an approach that makes more sense for me.
When we examine the chart, we see that it remains faithful to harmonic trading. Fractal patterns kept repeating each other
However, when we look at the area where the current movements are located, we can observe that it is stuck in a channel.
Let's take another look at the chart with Bollinger bands.
We can observe this jam in different time periods.
Well, if we think about whether the downward movement continues, it is likely that there will be some more downward movement.
But I think this decline could be in the form of a back test. Because I can make a comment that it will stick to the channel line.
Assuming a fall in triangle depth based on the triangle breakdown in the last formation area, this decline seems to be consistent with the channel test we just showed.
Although we have mentioned downward graphical methods, you may have noticed another pattern that we cannot ignore.
Although the handle appears very low, it is still valid in this formation. Because of these and similar mixed signals, I initially said that piecemeal buying and selling made more sense to me.
If we continue to evaluate the indicators, let's talk about cmf first. Let's look at the supply zones on the indicator to which the price reacts.
Below -0.20 the price is surely experiencing a reversal. And our maximum bottom value is -0.40 levels. Buy-sell signals are generated in exchange for the same value in which negative number fields turn into positive numbers. In other words, if you buy -20, we can consider +20 as sell . You can observe this by measuring it yourself in different commodity charts as well. I think it is a more reliable and accurate indicator than the rsi strategy. Because if the money is not synchronized to the candle on the chart, it is most likely saylor syndrome. Those who have read my previous analyses know what saylor syndrome is.
There's no need for anything. Aroon is enough for us.
Aroon up and aroon down may have small reactions at levels in the fibonacci channel. But in general, I think it provides enough visibility into where the direction of the price is and where it will go. Even if Aroon up returns to zero again, we see that prices are already below enough. In other words, there will definitely not be a downward decline such as aroon up going down from 100. Even if prices turn down, it will be a less destructive decline of short duration. Of course, you will want to make a profit and protect yourself from loss. If this seems risky for you, you may want to consider splitting trading. If you think that this does not seem risky for you, you can think that the expectation will rise anyway, you can consider collecting goods. Everyone must make their own strategic decision.
When we look at the Adx, we see that sales are weakening. But there is still no positive reaction.
I see that Adx has focused on the 15 levels of its previous reaction areas. You may want to keep track of prices with a few different combinations of indicators. Or you may want to be in the trade. You make that decision.
In order not to skip anything, I would like to talk about one last formation. There is no such appearance yet. But I would also like to mention this formation because of the possibility that it can happen and the possibility that it can occur when we simulate the current price movements. A formation that everyone resorts to very often;
I wanted to simulate this formation as it is also compatible with previous supply zones.
Note: This is not investment advice.
Collecting goods by making piecemeal purchases by staying in cash instead of stop loss is an approach that seems more correct to me. Buying and selling does not seem right for me because the price is at the bottom.
Therefore, collecting goods from these places instead of daily trading is an approach that makes more sense for me.
However, when we look at the area where the current movements are located, we can observe that it is stuck in a channel.
Assuming a fall in triangle depth based on the triangle breakdown in the last formation area, this decline seems to be consistent with the channel test we just showed.
If we continue to evaluate the indicators, let's talk about cmf first. Let's look at the supply zones on the indicator to which the price reacts.
There's no need for anything. Aroon is enough for us.
When we look at the Adx, we see that sales are weakening. But there is still no positive reaction.
In order not to skip anything, I would like to talk about one last formation. There is no such appearance yet. But I would also like to mention this formation because of the possibility that it can happen and the possibility that it can occur when we simulate the current price movements. A formation that everyone resorts to very often;
Note: This is not investment advice.
s3.tradingview.com/s...shots/m/MJahhvUp.png