Mapping gold2420’s here and it looks like we’ll see a pullback. Waited patiently for the set up and bought the takeout before 0000. Looks like it’s healthy and about to take off.
Good luck trading this.
Linesmakesense
Mapping goldSome key supports and resistance are pushed through and bounced off.
If the four hour candles closes above that diagonal support I think buyers will attack the ATH with a hammer candle resting on 2410.. a key support to retest before ATH and beyond.
I think this is it.
Mapping goldHeart entry !
ENTRY 2410’s , plus pickups in the 17’s and low 20’s on the way up.
Looks like a nice setup to break into ATH if you ask me.
Liked the big profits from the sell at 2455 I was holding for dear life.
Ride the lightning.
Long here.
Mapping goldLittle bounce here after establishing in the 30’s again. Could be looking at drastic moves and pullbacks when the price enters the unstable 40’s-50’s region.
Look to exit off the resistance above and wait for a setup that will drop or push through this diagonal uptrend. Breaking this will initiate 2420 and beyond. Turns on average take 12-16 15m candles to developed and break off of.
Tight ish SL and anticipate pullbacks from eratic movement and wicks near these trend lines.
GL Cheers all,
Mapping gold Here we are in the 30’s making something happen.
Taking profits and playing a quick jump up. Looking forward to going in for another sell in the 40’s -50’s. Until then he patiently wait 1-2 hr candles and see what it looks like.
SL 2433 and looking to sell below that.
TP 2446-2457
Sell TP 2430’s-2380’s
Mapping GoldBreaking down the structure here and playing the bounces.
Selling the 2450’s and buying the 30’s.
Short here anticipating another break into the 30-20’s region.
Looking to see some excitement in the next few candles. Could see another rip up. Have a light enough position to accommodate and ride the lighting back down to 2400 whenever the beast decides to move that way.
GL trade safe.
Cheers, Hold the ticket.
Mapping goldSeems as though the diagonal red lasers indicated on the chart above are actively repelling the current gold prices.
The green laser represent possible regions or “lines” that have been used to bounce and shake weak hands throughout the course of its journey.
ATH retest here or shakeout the hopeful bulls before inevitably launching into new territory.
The algos going head to head on this doji. Lookin for some clean structures and some good fakeouts to scalp.
Trade safe
LFG
spinning top at 47648 can it hold into a reversalboth h1 and daily have printed a spinning top usually a sign of trend reversal
if support doesnt hold look for 42 or 39k
Explaining Lines and Use.Line
A line chart is important to traders and investors, as they (traders and investors) consider the closing price to be more important than the opening price, low and high during a particular period.
In summary, it is only a graph that takes into account the closing price of each Bar.
This graph can be quite useful in the hypothetical case of certain patterns.
But let's go to an example:
ETH Eliot Wave Impulse.
Wave 1 appears mainly after a correction greater than 50% in the Fib level, then we make a speculation and seek to confirm a minimum retracement of 61.8% and 71.6% (This is used by the majority although sometimes a greater 50% some consider it valid , there is debate on this issue, even if I put 50%, daniel's is still invalid). Both Wave 1 and Wave 2 rules are met.
Wave 3, It is usually higher in 161.8% of the minimum of the retracement of Wave 2, and exceeds the maximum of Wave 1. Fulfilled
Rule: Setback of 38.2% and a minimum of 23% Completed of Wave 4.
Wave 5: last impulsive section exceeding wave 3, with a projection of 161.8% of wave 4, and normally of similar length to wave 1. This wave is characterized by a significant increase in volume, which is not accompanied by a rise significant price. It would correspond to a distribution phase in which volume plays a fundamental role.
But...
In candles on the binance platform a huge shadow appeared on Wave 4 that was below the maximum level of Wave 1, currently it is not. Therefore, some traders prioritize only the closing price. In cryptocurrencies the volatility of the assets is usually common, and there are "shadows in candles" that honestly are somewhat absurd.
