12h TF:
6h TF:
6h TF:
thx for your insights ;-)
i can see this blue buy zone quite large though
Topic: Wyckoff Mode Technical Analysis - page 32. (Read 12119 times)
thx for your insights ;-)
i can see this blue buy zone quite large though
12h TF:
6h TF:
6h TF:
BTCUSD - New Video Publication titled, "Wanted to Share a Few Things I'm Seeing in the 2-Week Time Frame." https://www.tradingview.com/chart/BTCUSD/I5REJUeH-Wanted-to-Share-a-Few-Things-I-m-Seeing-in-the-2-Week-Time-Frame/
Like I said in the video (when looking at the Daily time frame); we are flirting with the lower boundary of that triangle right now. It's POSSIBLE we can avoid falling below the lower boundary of that triangle and this weekend begin coming back up to the upper boundary of the triangle before falling again. However, this is currently looking like we could have a "Three Drives Down" scenario play out from our high at $13,880 to a lower low around $8,300 to $8,500 by mid September. Of course I'm saying the third drive down would bottom out in mid September before we finally see a reversal to sustained upward pressure for the remainder of 2019.
Like I said in the video (when looking at the Daily time frame); we are flirting with the lower boundary of that triangle right now. It's POSSIBLE we can avoid falling below the lower boundary of that triangle and this weekend begin coming back up to the upper boundary of the triangle before falling again. However, this is currently looking like we could have a "Three Drives Down" scenario play out from our high at $13,880 to a lower low around $8,300 to $8,500 by mid September. Of course I'm saying the third drive down would bottom out in mid September before we finally see a reversal to sustained upward pressure for the remainder of 2019.
If you have not watched this video yet regarding continued downward pressure till September (linked in the quote above), I recommend watching it.
I was very much "detained" by my tooth extraction, meds and sleeping during these signals provided on the Daily when this drop began "initially." Just thought I would share the signals shown in the Daily. I failed to provide an additional note on the Phoenix ARI that was also falling at the time shortly after the signals provided in the other indicators. The Phoenix ARI lags a bit more than the others but provides additional confirmation AFTER the signals provided in the other indicators.
Like I said in the video (when looking at the Daily time frame); we are flirting with the lower boundary of that triangle right now. It's POSSIBLE we can avoid falling below the lower boundary of that triangle and this weekend begin coming back up to the upper boundary of the triangle before falling again.
that was my hope for an easy trade---no dice! now i'm looking for the next short term scalp buy setup.
We may see a temporary bounce off $9,120.16:
we blew through the $9650 bottom on massive volume but price stopped dead in its tracks. that tells me we could be pretty close to a local bottom. just need the last of the selling momentum to fade out.
any thoughts on a bounce target? if we're about to go sideways/down for 2 months but only dropping $1000 further, you must expect some drawn out bounces along the way?
Like I said in the video (when looking at the Daily time frame); we are flirting with the lower boundary of that triangle right now. It's POSSIBLE we can avoid falling below the lower boundary of that triangle and this weekend begin coming back up to the upper boundary of the triangle before falling again.
that was my hope for an easy trade---no dice! now i'm looking for the next short term scalp buy setup.
We may see a temporary bounce off $9,120.16:
we blew through the $9650 bottom on massive volume but price stopped dead in its tracks. that tells me we could be pretty close to a local bottom. just need the last of the selling momentum to fade out.
any thoughts on a bounce target? if we're about to go sideways/down for 2 months but only dropping $1000 further, you must expect some drawn out bounces along the way?
Apologies for the delay... My meds have had me knocked out. Also, I was up all night last night until my dental appointment this morning. I just woke up about a half hour ago.
I'll have another look at the indicators in multiple time frames to see if I may can come up with a scenario or two. I'll post them in the wee hours of the morning after I do some more work in my office.
Ouch, pretty brutal dumps here!
When you say "Three Drives Down" do you mean like a bullish three drive harmonic pattern? I'm curious how you see the timing/proportions working out. Since we're already deep into the second drive down, it seems like the pattern would complete closer to early August. But you're looking for it to complete around mid September? Hmm.
Thanks for the updates!
When you say "Three Drives Down" do you mean like a bullish three drive harmonic pattern? I'm curious how you see the timing/proportions working out. Since we're already deep into the second drive down, it seems like the pattern would complete closer to early August. But you're looking for it to complete around mid September? Hmm.
Thanks for the updates!
Yes, agreed. One would think 3 drives down would complete around last week of August or first week of September. Which is still possible. I simply provided that pattern as an example of what we could potentially play out over the course of the next 10 to 12 weeks.
Like I said in the video (when looking at the Daily time frame); we are flirting with the lower boundary of that triangle right now. It's POSSIBLE we can avoid falling below the lower boundary of that triangle and this weekend begin coming back up to the upper boundary of the triangle before falling again.
that was my hope for an easy trade---no dice! now i'm looking for the next short term scalp buy setup.
We may see a temporary bounce off $9,120.16:
we blew through the $9650 bottom on massive volume but price stopped dead in its tracks. that tells me we could be pretty close to a local bottom. just need the last of the selling momentum to fade out.
any thoughts on a bounce target? if we're about to go sideways/down for 2 months but only dropping $1000 further, you must expect some drawn out bounces along the way?
Ouch, pretty brutal dumps here!
When you say "Three Drives Down" do you mean like a bullish three drive harmonic pattern? I'm curious how you see the timing/proportions working out. Since we're already deep into the second drive down, it seems like the pattern would complete closer to early August. But you're looking for it to complete around mid September? Hmm.
Thanks for the updates!
When you say "Three Drives Down" do you mean like a bullish three drive harmonic pattern? I'm curious how you see the timing/proportions working out. Since we're already deep into the second drive down, it seems like the pattern would complete closer to early August. But you're looking for it to complete around mid September? Hmm.
Thanks for the updates!
We may see a temporary bounce off $9,120.16:
Have a look at the indicators in this Daily TF. Earliest possible CHANCE for upward pressure may not occur until July 19th or 20th.
We are currently working on our Back-Up/Last Point of Support AFTER our "Sign of Strength" in Phase D of our Wyckoff Accumulation schematic. Then we are off to the races in Phase E after we find our "Last Point of Support."
Here's a look at the 12h Time Frame (TF):
BTCUSD - New Video Publication titled, "Wanted to Share a Few Things I'm Seeing in the 2-Week Time Frame." https://www.tradingview.com/chart/BTCUSD/I5REJUeH-Wanted-to-Share-a-Few-Things-I-m-Seeing-in-the-2-Week-Time-Frame/
Like I said in the video (when looking at the Daily time frame); we are flirting with the lower boundary of that triangle right now. It's POSSIBLE we can avoid falling below the lower boundary of that triangle and this weekend begin coming back up to the upper boundary of the triangle before falling again. However, this is currently looking like we could have a "Three Drives Down" scenario play out from our high at $13,880 to a lower low around $8,300 to $8,500 by mid September. Of course I'm saying the third drive down would bottom out in mid September before we finally see a reversal to sustained upward pressure for the remainder of 2019.
Like I said in the video (when looking at the Daily time frame); we are flirting with the lower boundary of that triangle right now. It's POSSIBLE we can avoid falling below the lower boundary of that triangle and this weekend begin coming back up to the upper boundary of the triangle before falling again. However, this is currently looking like we could have a "Three Drives Down" scenario play out from our high at $13,880 to a lower low around $8,300 to $8,500 by mid September. Of course I'm saying the third drive down would bottom out in mid September before we finally see a reversal to sustained upward pressure for the remainder of 2019.
Here's a look at how the indicators COULD POSSIBLY play out in the 2-Week TF. Those new to charting: Each candle is a period of 2-Weeks in this chart below. I drew lines within Godmode indicator to show how downward pressure MIGHT prevail until mid September.
BTCUSD - New Video Publication: "We Still Have Sustained Downward Pressure for a While Longer." https://www.tradingview.com/chart/BTCUSD/NchNZFVD-We-Still-Have-Sustained-Downward-Pressure-for-a-While-Longer/
Be sure to watch that 20 minute video link (above).
We may see another bout of upward pressure this weekend. However, I do not see it evolving into new highs with a sustained long term of upward pressure. It's too dangerous to go long right now.
If we do end up falling sharply, I do not see us falling any lower than $7,500. If anything, I'm seeing $8,300 to $8,500 price range if we end up falling into a PRICE correction instead of continuing with a TIME correction.
As long as our Daily candles continue to CLOSE "above" $9,949.98, we are in a TIME correction. The moment we have a Daily candle CLOSE "below" $9,949.98, we can anticipate a continued drop to or near the $8,300 to $8,500 price range; resulting in a PRICE correction of approximately 40 percent. We have currently seen a drop of no more than 30.8 percent.
This honestly looks like more of a PRICE correction is in play rather than a TIME correction. 65% for PRICE correction and 35% for TIME correction. It's just going to take a while to play out. How long is "a while?" Till mid to late September before we find bottom and begin a hair raising bull run to test All Time High.
I don't like how my Phoenix DG-1 Short Cycle has turned RED and turning down. Can it turn back Green and turn back up? It's possible but not looking very promising.
Be sure to watch that 20 minute video link (above).
We may see another bout of upward pressure this weekend. However, I do not see it evolving into new highs with a sustained long term of upward pressure. It's too dangerous to go long right now.
If we do end up falling sharply, I do not see us falling any lower than $7,500. If anything, I'm seeing $8,300 to $8,500 price range if we end up falling into a PRICE correction instead of continuing with a TIME correction.
As long as our Daily candles continue to CLOSE "above" $9,949.98, we are in a TIME correction. The moment we have a Daily candle CLOSE "below" $9,949.98, we can anticipate a continued drop to or near the $8,300 to $8,500 price range; resulting in a PRICE correction of approximately 40 percent. We have currently seen a drop of no more than 30.8 percent.
This honestly looks like more of a PRICE correction is in play rather than a TIME correction. 65% for PRICE correction and 35% for TIME correction. It's just going to take a while to play out. How long is "a while?" Till mid to late September before we find bottom and begin a hair raising bull run to test All Time High.
I don't like how my Phoenix DG-1 Short Cycle has turned RED and turning down. Can it turn back Green and turn back up? It's possible but not looking very promising.
Hi FOMA,
Apologies for the delay responding.
The pain meds I've been taking have had me very drowsy with low energy. I do what I can in the office remodel when I have the energy/motivation to do so. I had a lower tooth in the very back right of my mouth surgically removed and bone grafted in where the tooth was surgically removed to be prepared for a future implant. I have an appointment tomorrow morning to have four (4) stitches taken out of my mouth.
I hope my trading room (office) will be epic. Maybe some day... It's a work in progress. I only have 10 feet of counter top to install for now. My hope is to fill up that 13.5 feet wall all the way and continue with the counter top another 12.5 feet of the adjacent wall with the same counter top; for a total of 26 feet of counter top with big screen TV's as monitors over the counter top space on two walls.
It's hard for me to say right now. I haven't evaluated the indicators thoroughly the past couple of weeks, like I normally do, due to my office remodel and dealing with my tooth surgically removed and bone graft for future implant.
I plan on getting back to doing video publications again by this coming weekend. Hopefully, that one wall in my office will be completed by then; along with my PC build to power the three (3) 55 inch 4K TV's I'm using as monitors.
I'm only doing that one wall for now. I need to turn my focus towards providing content for my trading signal/education website after that wall is complete. I will still provide TA during my website build but not as much as I did previously. It's more important to me to get that website going LIVE than it is for my office to be completely remodeled. I'll get back to remodeling the remaining three (3) walls AFTER the website has been LIVE for at least 3 or 4 months. Which means I may not complete the remaining the remaining three walls until the first quarter of 2020.
I may invest the time to do a video publication later tonight or in the wee hours of the morning tomorrow between 1:00am and 4:00am July 15, 2019. I don't want to provide that opinion of if we go sideways with a price correction or if we continue down further with a price correction without doing a thorough TA of ALL time frames like I normally do.
Thanks for dropping by to comment.
Stay Awesome!
David
Apologies for the delay responding.
The pain meds I've been taking have had me very drowsy with low energy. I do what I can in the office remodel when I have the energy/motivation to do so. I had a lower tooth in the very back right of my mouth surgically removed and bone grafted in where the tooth was surgically removed to be prepared for a future implant. I have an appointment tomorrow morning to have four (4) stitches taken out of my mouth.
@dmwardjr
your trading room will be epic from the looks of it!
your trading room will be epic from the looks of it!
I hope my trading room (office) will be epic. Maybe some day... It's a work in progress. I only have 10 feet of counter top to install for now. My hope is to fill up that 13.5 feet wall all the way and continue with the counter top another 12.5 feet of the adjacent wall with the same counter top; for a total of 26 feet of counter top with big screen TV's as monitors over the counter top space on two walls.
I'm thinking this is a time correction now. We wicked below $9948 but bulls reacted strongly just like the July 2 bounce. Looks like the makings for a sideways bull flag before a fat leg up next month. What do you think?
It's hard for me to say right now. I haven't evaluated the indicators thoroughly the past couple of weeks, like I normally do, due to my office remodel and dealing with my tooth surgically removed and bone graft for future implant.
I plan on getting back to doing video publications again by this coming weekend. Hopefully, that one wall in my office will be completed by then; along with my PC build to power the three (3) 55 inch 4K TV's I'm using as monitors.
I'm only doing that one wall for now. I need to turn my focus towards providing content for my trading signal/education website after that wall is complete. I will still provide TA during my website build but not as much as I did previously. It's more important to me to get that website going LIVE than it is for my office to be completely remodeled. I'll get back to remodeling the remaining three (3) walls AFTER the website has been LIVE for at least 3 or 4 months. Which means I may not complete the remaining the remaining three walls until the first quarter of 2020.
I may invest the time to do a video publication later tonight or in the wee hours of the morning tomorrow between 1:00am and 4:00am July 15, 2019. I don't want to provide that opinion of if we go sideways with a price correction or if we continue down further with a price correction without doing a thorough TA of ALL time frames like I normally do.
Thanks for dropping by to comment.
Stay Awesome!
David
@dmwardjr
your trading room will be epic from the looks of it!
i'm thinking this is a time correction now. we wicked below $9948 but bulls reacted strongly just like the july 2 bounce. looks like the makings for a sideways bull flag before a fat leg up next month. what do you think?
your trading room will be epic from the looks of it!
i'm thinking this is a time correction now. we wicked below $9948 but bulls reacted strongly just like the july 2 bounce. looks like the makings for a sideways bull flag before a fat leg up next month. what do you think?
Daily (24h) TF:
A quick update using the Daily (24h) Time Frame:
I know I still haven't done a new video publication update for near, mid and long term analysis. I enjoyed time with relatives yesterday and the day before. I'm back home now and about to get back to building my two pedestals to hold up the new countertop that will act as a desk underneath the three (3) 55 inch TV's.
The TV's will be mounted to the wall. What I'm focusing on today will be to add a plywood wall to 2x4 studs that I will attach to the existing wall. I need those 2x4 studs behind the new plywood wall to help support the wall mounts for the TV's. I'm also painting the new plywood wall and existing sheet-rock wall before attaching the TV wall mounts to the new plywood wall.
Here's the 24h WITHOUT indicators:
Here's the 24h WITH indicators: Focus on text bubbles inside the indicators on this chart.
I know I still haven't done a new video publication update for near, mid and long term analysis. I enjoyed time with relatives yesterday and the day before. I'm back home now and about to get back to building my two pedestals to hold up the new countertop that will act as a desk underneath the three (3) 55 inch TV's.
The TV's will be mounted to the wall. What I'm focusing on today will be to add a plywood wall to 2x4 studs that I will attach to the existing wall. I need those 2x4 studs behind the new plywood wall to help support the wall mounts for the TV's. I'm also painting the new plywood wall and existing sheet-rock wall before attaching the TV wall mounts to the new plywood wall.
Here's the 24h WITHOUT indicators:
Here's the 24h WITH indicators: Focus on text bubbles inside the indicators on this chart.
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