Greetings fellow traders,
As time goes by, the markets evolve...
If your way of TA is strong, then the path will lead its way...
More visible, more probable:
' I’m trying to free your mind, Neo. But I can only show you the door. You’re the one that has to walk through it. '
~ Morpheus, The Matrix ~
With that having quoted, this is my way of keeping order in the chaos. I call it, "Pattern Formation Level( PFL )":
Alpha > Beta > Delta > Echo > Gamma > ( Secret???? )
Explanation PFL:
-------------------------------------
Current Delta patterns:
DT, has 1st confirmations on resistance and support levels.
Current Echo patterns:
DBW vs DT
Current Gamma patterns:
FW
Today's Note:
The previous Echo(DBW) and the current pattern formation, might be one for the books. When it comes to the FPL system. This is a great example of the following rule: Alpha > Beta > Delta > Echo > Gamma > ( Secret???? ). Although the Gamma(FW) pattern has a higher probability of breaking out to the up side. It broke to the downside. Is it a coincidence, that the price action trajectory followed a greater PFL's trend or could this be a contributing factor to determine whether the breakout probability is as usually expected. Obviously the question might become rhetorical. Currently we are in the same scenario. The Gamma(FW) formation should expect a bullish break out. But looking at the chart, you can do the math. It's looking pretty similar. However once again, past performance does not mean future results. Kind of have proven that, regarding FW expected breakout direction.
For the time being, I'm going to keep my short position open and stay with the current targets. This could be a good long scalp opportunity, but I'm going to skip it this time and focus on my current open positions.
To be concluded...
Current Targets:
Exit short position / Entry long position target: $6.6K - $6K region.
Tip of the Day: People = Psychology > Patterns > Indicators > Fundamentals. Nonetheless, all is crucial.
-------------------------------------
Epilogue:
Hopefully in time other analyst implement my systems and techniques into their TA, hence bringing their TA skills to the next level. As you may have noticed, combining diverse TA techniques effectively, will give you the most probable patterns & trajectories.
If you don't want to miss out on any of my daily technical analysis. Then click or tap on follow and don't forget to smash on that like button ^^, thanks in advance. In case you're wondering which indicator I'm using. She's called EMI , short for 'Epic Market Indicator' and she's a collection of diverse indicators. How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions. EMI 1 v3.0 & EMI 2 v2.0. Like any other instrument, practice makes perfect. If you have any input for EMI or questions about my way of TA(*Asian sound-effects*). Please leave a comment or DM me and I'll try to respond a.s.a.p. Be careful and good luck fellow traders, may the trend gods be with you!
As time goes by, the markets evolve...
If your way of TA is strong, then the path will lead its way...
More visible, more probable:
- Dashed lines; Possible forming patterns
- Solid lines; Confirmed patterns / Support or Resistance
- Dotted lines; Possible price-action trajectories / wave trend
- Lighten colors = Support | Darken colors = Resistance
' I’m trying to free your mind, Neo. But I can only show you the door. You’re the one that has to walk through it. '
~ Morpheus, The Matrix ~
With that having quoted, this is my way of keeping order in the chaos. I call it, "Pattern Formation Level( PFL )":
Alpha > Beta > Delta > Echo > Gamma > ( Secret???? )
Explanation PFL:
- Alpha; ST / Bullish Pennant pattern formation, a.k.a. "The End Game", a.k.a. "The Big Long". (Daily and higher time-frames)
- Beta; Most recent relevant and biggest forming pattern within The Alpha forming pattern. FW / DC. (4-24 hour time-frames)
- Delta; Most recent relevant forming patterns within The Beta pattern. (4-8 hour time-frames)
- Echo; Most recent relevant forming patterns within The Delta pattern. (1-4 hour time-frames)
- Gamma; You get the picture... (10-60 min. time-frames)
- Secret Level; Do not thread these treacherous waters. At least for master level TA skills or higher. (10 min. and lower time-frames)
- Eventually the PFL's are all connected. Gamma patterns combines into Echo pattern and Echo patterns combines into Delta patterns etc. Until the Alpha patterns has been formed. I'm not calling it just the Alpha for dominance in size. For as this pattern, is, the Alpha and Omega. Which will end current market cycles and start anew. From time to time, I might thread the secret level when I'm feeling gutsy.
By inserting pattern formations in the PFL as parameter. This makes it easier keeping track of which pattern formations are relevant to the current TA and entry or exit strategies. It might be hard to learn, but it is certainly easy to master.
As a programmer and I like playing chess. As result to my TA, I like to look ahead as far as possible. This is only doable if you have reasonable reliable trends to follow. That's why I came up with this system. In time, as I gain experience in the markets. My TA skills evolves and in parallel my systems and indicators.
-------------------------------------
Current Delta patterns:
DT, has 1st confirmations on resistance and support levels.
Current Echo patterns:
DBW vs DT
Current Gamma patterns:
FW
Today's Note:
The previous Echo(DBW) and the current pattern formation, might be one for the books. When it comes to the FPL system. This is a great example of the following rule: Alpha > Beta > Delta > Echo > Gamma > ( Secret???? ). Although the Gamma(FW) pattern has a higher probability of breaking out to the up side. It broke to the downside. Is it a coincidence, that the price action trajectory followed a greater PFL's trend or could this be a contributing factor to determine whether the breakout probability is as usually expected. Obviously the question might become rhetorical. Currently we are in the same scenario. The Gamma(FW) formation should expect a bullish break out. But looking at the chart, you can do the math. It's looking pretty similar. However once again, past performance does not mean future results. Kind of have proven that, regarding FW expected breakout direction.
For the time being, I'm going to keep my short position open and stay with the current targets. This could be a good long scalp opportunity, but I'm going to skip it this time and focus on my current open positions.
To be concluded...
Current Targets:
Exit short position / Entry long position target: $6.6K - $6K region.
Tip of the Day: People = Psychology > Patterns > Indicators > Fundamentals. Nonetheless, all is crucial.
-------------------------------------
Epilogue:
Hopefully in time other analyst implement my systems and techniques into their TA, hence bringing their TA skills to the next level. As you may have noticed, combining diverse TA techniques effectively, will give you the most probable patterns & trajectories.
If you don't want to miss out on any of my daily technical analysis. Then click or tap on follow and don't forget to smash on that like button ^^, thanks in advance. In case you're wondering which indicator I'm using. She's called EMI , short for 'Epic Market Indicator' and she's a collection of diverse indicators. How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions. EMI 1 v3.0 & EMI 2 v2.0. Like any other instrument, practice makes perfect. If you have any input for EMI or questions about my way of TA(*Asian sound-effects*). Please leave a comment or DM me and I'll try to respond a.s.a.p. Be careful and good luck fellow traders, may the trend gods be with you!
