ELLIOTT WAVES - characteristics Waves for BITCOINWave characteristics
1. "Market psyche" is almost completely bearish The news is still negative
2. The market is drifting away from recent, hard - work, profitable positions.
The price can roll back almost 100% of Wave 1, but not lower that is beginning .
Usually it is about 50-60 % of Wave 1, and it develops against the background of the dominant predominance of investors who prefer to fix profit.
3. There is a sharp growth of optimism among investors.
This is most powerful and longest wave of growth
(it can't be the shortest), at which prices accelerate and volumes increase. Classical 3
Wave exceeds Wave 1 at least in 1.618 times and may be even bigger.
4. Wave is often difficult to identify. Usually it rolls back no more then 38% of Wave 3.
It's depth and duration, as a mile, is not big.
Wave 4 should not fall below the level of Wave 2.
5. Wave 5 is usually much less dynamic, than the 3 Wave.
During the 5 Wave, many confirming technical indicators begin to fall behind the price movement.
Also at this time, some oscillators start to show negative divergence, warning that the
market is moving to the top.
Fibonacci
The "Pulse" of an asset times Fibonacci: BTC dire Impulse ReduxBitcoin has returned to its last Impulse pushing up.
This is a crucial test of the overall trend structure.
This battle will determine the mid-term outlook.
"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the buyers still there? Enough to absorb the selling power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected on at least first approach if not several.
This is part my ongoing series to collect examples of my Methodology.
.
.
Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
.
.
.
want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.
Intro To Gold Reversal TemplateHello, guys!
For those who still follow and read my setups! I want to give you something that can help you in trading!
This is a very beautiful template if you combine it with other tools you have in your arsenal.
Especially with Trend Lines and structure.
Please click on the share button under this idea, and then click on MAKE IT MINE, it will open up in a chart for you and go to 1 minute to monitor this template.
I will update rules below this idea.
EURUSD 30m . Just now, I have got a 7:1 return
X point is a structure, hoarding a large number of unfilled orders
Point C is the high point created by the X structure.
Point B is the first test to sell the X structure, and there is no new low.
Point A is the rebound of point B after the X structure test.
So if the buy order for the X buy structure is not strong enough, then why is there a point where point A is higher than point C?
Therefore, when the new high A point appears, the bullish sentiment will rise. When the price falls back to the X structure again, we will grab another rebound with the smallest stop loss. The reason is that point C has been broken by point A.
We don't need to think that we can catch a big market every time. When we have the risk quota and size, we can calculate the larger size based on the stop loss spread and quickly make a big profit in the short-term.
Also, let's focus on the 4H closing. If the backstepping structure is effective, then in the short term, we can switch to the long idea.
There are two reasons
1, Y point is the 0.886 golden section of this downward trend to stop the decline;
2; The megatrend is still a bullish structure, and the Y point has not been broken.
EURUSD
EUR/USD UPTRENDING !!*-BROKE ASCENDING TRENDLINE
*-DOUBLE BOTTOM FORMATION SIGNALING A TREND CHANGE
*-PRICE IS ABOUT TO CREATE A NEW DESCENDING TRENDLINE
*-I AM EXPECTING A FURTHER MORE SMALL PUSH TO THE DOWNSIDE TOUCHING THE SUPPORT AND FIBONACCI RETRACEMENT
*-PRICE MIGHT ALSO CORRELATE WITH 50 EMA
*-WAITING TO SEE SOME PRICE ACTION/CANDLESTICK PATTERNS ON MY POCKET BEFORE ENTERING A LONG TRADE
*-BE CAREFULL OF NFP THIS FRIDAY
*-ITS BETTER TO CLOSE ALL OPEN TRADES BEFORE NFP
#tradesafe #education #bestsetup #learn #freecontent
Wait confirmation candle EURGBP daily timeframe June 28, 2019
You see trendline orange ??? If yess, if you are trendline trader, I'm pretty sure you will open SHORT POSITION directly .
But from my experience , what I can say is TRENDLINE in many proof, like this now EURGBP , you see price keep moving up , and breakout trendline !!! However, my past experience teach me to avoid using trendline . Trendline is useless for me !!
I believe to reading candlestick. Because ,somehow ,the tail of candle already representation of fibonacci retracement ( FR ) .But I keep being realist. I keep try to drawing FR and caught that price EURGBP may want go to testing FR 88,6% , and for me personal, I will wait some of candle confirmation to opening long or short !
But if you go to weekly timeframe, you will realized there was double top supply area on top the current price. So then, that make sense if price perhaps 70% after touch FR 88,6% will bouncing , dropping !!
Thank you guys for your time to read this all words. Hopefully you can understand my english.
eurchf longFX:EURCHF
Hey all, as you can see i'm trying out methods, i'm trying to see what works for me so apologies if you are wondering "why does he keep changing entry types etc"
I'm by no means an expert trader but I promise you I will get there.
Im using supply demand areas
fib ext
rsi.
Hoping this will work out for me.
Apologies for poor quality of sound my laptop fan is terrible. Maybe when i become profitable I can invest in a new lappy :-)