ELLIOTH WAVE THEORY
In an uptrend, the "5-wave" pattern of an impulse wave consists of three "motive" waves (waves 1, 3, and 5) and two "corrective" waves (waves 2 and 4), with wave 1 being the beginning of the trend, wave 3 being the strongest and longest wave, and wave 5 being the final wave of the trend.
Currently the 5th wave might not be finished.
VOLUME PROFILE
Volume profile is a charting technique that displays the volume traded at different price levels over a specified time period. It can help traders identify areas of high or low liquidity, support and resistance levels, and potential trading opportunities. Traders may use volume profile to determine areas of price acceptance or rejection, and it can be used in conjunction with other technical analysis tools to confirm or invalidate trading signals. It is important to use volume profile in combination with other analysis techniques and to have a thorough understanding of market dynamics and price behavior.
Volume profile shows us that there where impulsive one way trading between 25k and 28k.
In this range there is only impulsive movements expected.
THE VALUE AREA
In volume profile analysis, the value area is a range of price levels where a certain percentage of the total volume was traded during a specified time period. Typically, the value area is calculated using a standard deviation of the volume distribution and can be used to identify areas of high liquidity and potential support and resistance levels.
The most common definition of the value area is the price range where 70% of the total volume was traded during the specified time period. This can be calculated using statistical software or by hand using the volume profile chart.
The value area low is sitting at 18.5k and the POC is at 19k. This indicates many buyers and this level can support the price.
Shorting back to these ranges only recommended after several rejection under the Value Area High.
I am so grateful for the support and engagement of my readers. Thank you for taking the time to read my analysis and for providing valuable feedback and insights. Your support means a lot to me and it's an honor to be able to share my knowledge and experience with you. I am constantly inspired by the community on TradingView and I look forward to continuing to learn and grow together. Thank you again for your support and for making this journey so enjoyable!
In an uptrend, the "5-wave" pattern of an impulse wave consists of three "motive" waves (waves 1, 3, and 5) and two "corrective" waves (waves 2 and 4), with wave 1 being the beginning of the trend, wave 3 being the strongest and longest wave, and wave 5 being the final wave of the trend.
Currently the 5th wave might not be finished.
VOLUME PROFILE
Volume profile is a charting technique that displays the volume traded at different price levels over a specified time period. It can help traders identify areas of high or low liquidity, support and resistance levels, and potential trading opportunities. Traders may use volume profile to determine areas of price acceptance or rejection, and it can be used in conjunction with other technical analysis tools to confirm or invalidate trading signals. It is important to use volume profile in combination with other analysis techniques and to have a thorough understanding of market dynamics and price behavior.
Volume profile shows us that there where impulsive one way trading between 25k and 28k.
In this range there is only impulsive movements expected.
THE VALUE AREA
In volume profile analysis, the value area is a range of price levels where a certain percentage of the total volume was traded during a specified time period. Typically, the value area is calculated using a standard deviation of the volume distribution and can be used to identify areas of high liquidity and potential support and resistance levels.
The most common definition of the value area is the price range where 70% of the total volume was traded during the specified time period. This can be calculated using statistical software or by hand using the volume profile chart.
The value area low is sitting at 18.5k and the POC is at 19k. This indicates many buyers and this level can support the price.
Shorting back to these ranges only recommended after several rejection under the Value Area High.
I am so grateful for the support and engagement of my readers. Thank you for taking the time to read my analysis and for providing valuable feedback and insights. Your support means a lot to me and it's an honor to be able to share my knowledge and experience with you. I am constantly inspired by the community on TradingView and I look forward to continuing to learn and grow together. Thank you again for your support and for making this journey so enjoyable!
Note
correction calculations
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.