Pivot Points
ETH Bull and Bear Elliott WaveIf you find this information inspiring/helpful, please consider a boost and follow!
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Here are a couple possibilities on eth, this is just a quick Elliott Wave break down for both bull and the bear possibilities. One thing Ive learned is having both options ready for deployment keeps me on point and a bit more objective and less emotional in case thing go bad, or the other way.
Cheers.
TESTING MODIFIED INDI> ORDER BLOCK + SUPERTREND + FIBO EXTENDTESTING MODIFIED INDICATOR> ORDER BLOCK + SUPERTREND + FIBO EXTEND KEY LEVEL
Costume script from LuxAlgo, I’m added supertrend signal and fibo extend-key level to one indicator.
Backtested, see how order block + supertrend + fibo extend operates, that’s awesome...
Smart Money Concepts ( by LuxAlgo ) script has been modified to make it simpler and more user-friendly, also suitable for beginners. In addition, I added supertrend and fibo key level-extend signals to facilitate entry and target. This combination is expected to further increase trading results.
XAUUSD, 1H chart pair with weekly Fibo keylevel-extend,
Bitcoin - Balance of Power between Buyers and SellersHi Traders, Investors and Speculators 📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫
The cryptocurrency markets and Bitcoin are trading predominantly bearish as the DXY increases in strength. In today's analysis, we take a look at the technical indicator Balance of Power. This indicator is useful to determine what setup has the best probability of succeeding. Together with the Pivot Points, we can identify the next immediate support zone / whale accumulation zone from a macro perspective, which is the monthly timeframe. From a candlestick analysis, we did recently see a green month last month, so it wouldn't be too hard to conclude that the current monthly candle might close bearish, considering the overwhelming selling power.
💭 ...Countertrading
Although countertrading is a popular strategy, it isn't a low-risk one. Infact, it is extremely high risk. Here's why : When you have multiple indicators (RSI, Volume, Fibonacci, Candlesticks etc.) pointing towards bearish price action, this is the MOST PROBABLE way the price will go. Technical Indicators and chart analysis have a 55% - 60% Success rate (Wall-Street figures). This means that there will be times (40%) when the indicators point bearish but the price suddenly goes bullish. However, if you follow the indicators, you can be sure that you will have more wins than losses , probability wise. Now you could try to guess it out by countertrading, but what are the probabilities for your guesses to be right? ...💭
Looking for a Short Setup? Here's a setup for SHIBUSDT that could award +40% :📈
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