Given here is the SHIB USD price activity in the scaping group of time frames (1 min, 3 min, 6 min, 12 min, 23 min, 45 min, 90 min, 3 hour) with the Phoenix Ascending indicator, which is comprised of the green exponential moving average (EMA), red stochastic relative strength index (sRSI), blue least squared moving average (LSMA), and the white energy (WE).
Here, I highlight two trading ranges for SHIB USD in the 12 min timeframe. The first (to the left) is re-accumulation. The Wyckoff events and phases are labeled. The ideal long entry is indicated by the blue arrow (phase C or early phase D). The second is hypothesized to also be re-accumulation although one cannot exclude the possibility that it is re-distribution. The ideal long entry would be in phase C or early phase D. Wyckoff abbreviations: selling climax (SC), automatic rally (AR), upthrust action (UTA), sign of weakness (SOW), failed upthrust (FUT), secondary test (ST), last point of support (LPS), sign of strength (SOS), buying climax (BC), phase A (Ph A), phase B (Ph B), phase C (Ph C), phase D (Ph D), phase E (Ph E).
Shown in the bottom panel is the Phoenix Ascending indicator. The ideal long entry occurs when the red sRSI is on the upswing and is about to be contacted by the green EMA that is also on an upswing.
This is not financial advice. I am not your financial advisor. This is my opinion.
Trade closed: target reached
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Position: Long Entry: $0.00002605 Exit: $0.00003099
Do you think it will correct to downside now? Am too late unfortunately to this entry. Didn’t knew about this coin I’m searching for any other similar one .. think it’s too late now ?
Eightchains
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@ce-group, Yeah, I do think it's correcting to the downside. We have new 4h, 10h, and 20h candles in 1 hour 42 min. Let's see what they look like. I don't think it's too late. So long as the price deviates from the central tendency, there will always be a trade.
ijustcoin
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Thanks for that publication! I am holding till 1$ no matter how much time it will take
Eightchains
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@ijustcoin, Thanks bro. I've been meaning to tell you that I'm taking the Wyckoff Analytics class. I'm learning a lot. If you just hold 'til it's 1 cent then you'll be a millionaire.
ijustcoin
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@djr0726, ohhhh, i almost forgot about these classes, btw i found them, but somehow you're attending 'em i am not )))
Regarding SHIB i bought 13 mills coins at 0.000006$, so i'll be a multi millionaire ))
Alec_Turnbull5
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Very well set out with fundamental explainination, appreciate for sharing 👍🏼
Eightchains
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@Alec_Turnbull5, Thanks very much, Alec. Still waiting for my entry.
ZeeMura
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@djr0726, great analysis...im waiting for entry as well..itll either be 17 or 30...we will see :)
Eightchains
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@ZeeMura, SHIB is my favorite coin at the moment. I'm loving the higher volatility and high volume. You do you but this Phoenix Ascending indicator I use is really good for finding high probability entries and exits. If it goes to 17 I will be all over that.