I can see a setup one , what would be otherwise known is the Volatility contraction or the SQUEEZE pattern, but I call it The Setup 1.
The Alligator (the three lines) are squeezed into a TIGHT Box (the grey zone, is AIMS Box Indicator).
The AO has a peak of 3 (green histogram peak) which was then followed by the squeeze.
But that was the past, Now its broke...
If you've followed me for a bit you will know that my go to setup is what I call the Setup 1.
It is a setup partially based on the Elliott Wave concept.
I am not that crazy 100% Elliottician ... I just like the Wave 5. :)
Here we have a setup 1 that I have been following for the last few months.
HP has finally broken out of the trading range (wave 4). Buy...
GU seems to have hit the Range lows of the last few days and then pushed up
It then retested the last "lower highs" and created a pin bar.
Now its going up... here are the next possible 4 scenarios.
I am long.
Here I'd like to share my favourite entry method.
The chart is self explanatory.
Let me know if you have any questions ....
This will happen during Wave 3 and Wave 5 (for those who subscribe to the Elliott Wave theory)
This pattern is sometimes called the Retrace, the Dip, the Pullback, the ABC correction, the ZigZag. The BOMB (by guerilla guys)
This might look like a simple pullback on the D1 chart
on the H4 chart, if you follow my method, then it is a setup 1. Possibly going into a Wave 5 up.
The negative is that it might be the start of an ABC pullback and I might get B trapped.
But I will take this regardless and keep that in mind.
Stop Loss below the Daily Small doji
I'll keep it short and sweet since I'm on holidays
This is a Setup 1 into Wave 5 up on the 4 hour chart of this EUR/AUD pair.
We see a sharp move up on the d1 followed by a correction. One could argue that it moved up a bit climactic and probably late in to the trend
But still, It has printed a confirmation candle on the D1 chart. Could we at least see it...
If you follow elliott wave in its simplest form, that is the Bill Williams way, then you will find this chart very refreshing
I have drawn the future possible pathway of BitCoin on this weekly chart of the BTCUSD.
We have seen a giant wave 3 up followed by a sharp corrective wave 4 down.
Now its broken out of the wave 4 consolidation and going into Wave 5....
Market Structure vs Price Action Patterns
There are price action patterns proven to have trading edge.
However the patterns do not have the same probability of success at all times and
positions in the market.
The Success of the Price Pattern depends on its position within the structure of the market.
The position of the The Price Pattern within the...
I just looked TESLA stock and two things popped up straight in my face
1. On the Weekly chart I see a Converging Triangle (A wedge if you like, a converging channel if you like)
2. A setup 1 formation which means, I see a Wave 3 and Wave 4 and possible Wave 5 on the horizon.
If I were to invest in tesla it won't be on the Daily chart . this time it will be on...
This company has been the day traders favourite recently
But can we invest in it on swing basis?
I have marked the descending parallel channel.
Will it go and bounce off the upper trend line
or will go through it and the trend will resume
I am a buyer here!
I can see that price moved up yesterday, creating that strong wave 3 up,
overnight the abc down (bull flag on H1) ...
Now i see a confirmation candle, A bullish Trend candle just closed on the H1.
I went long above the h1 of the last h1 candle. On chart you see wave 5 projection
BitCoin has entered the area where SERIOUS buyers are getting ready to unleash their wallets.
Be prepare to be bombarded by youtube shorts and ticktocks of big million dollar buys being posted around Today's levels.
"I Have bought BitCoin, will you buy with me?" they all say!!! "buy here buy here" #bitcoin
My Stop Loss is below the most recent low. Looking...