CHNG Weekly Bullish Livermore Accumulation CylinderCHNGUSDT / Chainge Finance token forming a nice livermore accumulation cylinder pattern. Point 7 also forming on a level of historical support and resistance.
Cylinder
Is FMG in a Livermore Accumulation Cylinder?So I'm most of the way through Jessie Livermore's classic books on audible Reminiscences of a Stock Operator & Jesse Livermore’s Methods of Trading in Stocks . Looking back at this FMG chart could this be considered a Livermore accumulation cylinder? Love to know your thoughts! Comment / Find me on Twitter.
ROSE/BTC LongROSE/BTC looking good for continued upwards movement:
A Livermore cylinder has been printed with increasing
volume on the price rises (indicated by the + signs) and
the decreasing volume where the price falls (indicated
by the - signs).
Once the 7 wave finishes and price holds above the
0.236 Fib retracement line, we can expect the
violent 8 wave to transpire taking us to at least the
1.618 Fib retracement line, even the 2.618 line
@.00000515
and
@.00000675
respectively.
Ichimoku is nearly as bullish as can be:
-Kumo cloud is green
-Tenkan is above the Kijun
-TK is above the clouds
-Price is above the cloud and is a few sats from
being above the TK
-Lagging span is above the cloud and the price
OCEAN/BTC LongOCEAN/BTC looks primed for price increase here:
A near picture perfect Livermore accumulation cylinder
has been printed and is stalling before its next leg up,
the 8 impulse wave, which in Livermore cylinders is one
of the two most violent waves.
Price has increased on increasing volumes (indicated by
the + signs) and has decreased on decreasing volumes,
(indicated by the - signs)
During the 8th and 9th wave we expect volume to be
very large and price to be reflected by sharp movements
upwards, potentially getting to the 1 zone of the fib
retracement tool
@.00006157
Adding conviction to this thesis is that the MA30 has
crossed above the EMA100 which has been a tell tale
sign this bull market of which coins have/are gaining
strength.
Ichimoku is mostly bullish:
-Kumo cloud is green
-Lagging span is above price and cloud
-Price is above cloud
-TK is above cloud
However it still has work to do before it is fully bullish:
-TK is bearish
-Price is below TK
If support holds above gray line @.00002341 and the
Livermore cylinder begins to play out, we may expect
that relatively quickly the TK will cross bullishly and
price will rise above the TK, confirming the whole chart
being bullish at that point.
SNX/USD Potential Livermore CylinderSNX/USD may be in a Livermore Accumulation Cylinder
(just getting in to this technique, if anyone can
link me to the best Livermore Cylinder learning
material that would be greatly appreciated.)
We see the trend being respected on both diagonals.
Jesse Livermore traded by the rule as well to
determine whether he was on the right side of a
bullish trade, volume would increase on price
expansion and decrease on retracements.
This is evident here where the + and - symbols
are placed.
If we truly are in a Livermore Cylinder, we should
expect another test of the upper trendline,
which has been acting as resistance, for the 6th
impulse on increased volume (estimated by the
gray + sign). Then a test of the bottom trendline
which has been acting as support for the 7th impulse
which creates support confluence with the
previous all time high at impulse 4 (gold line) that
should act as support as well on decreasing volume
(estimated by the grey - sign).
After this has happened and confirms as still
holding its shape we would expect further
upward expansion toward the 8 to 10 impulses
which aren't all charted yet, however I will update
that if necessary when the time comes.
"Synthetix Network Token (SNX) is an exchange-based
token created and issued by Synthetix, a
decentralized synthetic asset issuance protocol
built on the Ethereum blockchain."
- CoinGecko
Synthetix is a promising project, more DeFi
and should have a bright future. Regardless of
whether or not the Livermore Cylinder holds true
SNX could do very well in the long term.