High LowSome corrections go for a third or even a fourth leg, so I prefer a different labeling system to account for this and discuss it later in the books. In its simplest form, it counts the legs of a pullback. For example, if there is a down leg in a bull trend or in a trading range and a bar then goes above the high of the prior bar, this breakout is a high 1. If the market then has a second leg down and then a bar goes above the high of a prior bar, the breakout bar is a high 2. A third occurrence is a high 3, and a fourth is a high 4. In a bear leg or in a trading range, if the market reverses back down after one leg, the entry is a low 1. If it reverses back down after two legs up, the entry is a low 2 entry and the bar before it is a low 2 setup or signal.
Since measured moves are an important part of trading and the AB = CD terminology is inconsistent with the more commonly used ABC labeling, the AB = CD terminology should not be used. Also, I prefer to count legs and therefore prefer numbers, so I will refer to each move as a leg, such as leg 1 or the first push, and then leg 2, and so forth. After the chapter on bar counting in the second book, I will also use the high/low 1, 2, 3, 4 labeling because it is useful for traders.
Albrooks
EUR/USD possible bullish reversal today or tomorrow Building permits and housing starts were better than forecast, this may cause some selling in EUR/USD.... The HTF daily chart is both short term and intermediate term bullish, However the market is currently trading within a HTF 4hr timeframe gap which was formed last week... i am anticipating that the market will fill this 4hr gap due to todays bearish EUR/USD news, once it fills the gap i believe that the market will continue upwards to at least test the current daily timeframe short term high possibly due to the pause on interest rate hikes from the FED (interest rates > building permits) i feel as if interest rates currently have a stronger higher timeframe influence on the market... I AM LOOKING FOR A LONG ENTRY THIS WEEK, ANY SHORTS WILL BE INTRADAY POSITIONS, I AM LOOKING TO SWING LONGS FOR THE WEEK/INTO NEXT WEEK.... THESE ARE MY PERSONAL THOUGHTS, THIS IS NOT FINANCIAL ADVISE!
USD/JPY PRICE ACTION, daily timeframe in depthblue boxes are liquidity voids, Fair value gaps, body gaps ect. whatever you want to call them (ITL= intermediate term low) (ITH=intermediate term high) (LTL= long term low) (LTH=longterm high).....i would still analyze DXY chart and look at Bond yields... i wouldnt short until the intermediate term structure on the daily actually shifted bearish....once it did i would look to intraday time frames in much of the same manner. (currently bullish yet anticipating bearishness in the near future)
SOLPERP Daily timeframe albrooks' price action analyselong story short my fellow nerds
spike and channe is created, 3 push pattern is also created (RSI approves it), we expect to break the upper channel line, TPs if it happens: 27, 38.9 or 48.34$. After that a possible TR between 8 to 48$ or a TR between 27 to 48$(this one is more likely to happen).
be safe love you all.
PS: DO NOT TRADE BASED ON MY PREDICTIONS.
FOLLOW RENGE IN SHORT-TIMEIn short-time with low stronge tend bearish ... lets to RENG to resistance
Total Crypto Market PredictionThis is the Actual deal I see on the Monthly Chart,
I see we have been on a spike and ow we are about to make the second low in the channel Phase. for short term we may go up to hit the monthly base , then drop down and touch the low of the channel, it could be around 2023 second quarter or third. after that I predict FOMC Stop increasing the interest rate and we have to be at accumulation phase then, and jump for a new huge bull run !
cardano will be in up trend soon.it will be in top gainers soon cardano have been sitting in a range between 40cents and 70cents for a while now . with the upcomming news it will be very attractive and it will most probably break the TR to the up side . further infos are avaiable on the chart . good luck fellas <3