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LINA Linear Finance Upside PotentialThe recent price action on LINA Linear Finance suggests a potential reversal in the making. The 200-day Moving Average has played a significant role as a strong support level since the golden cross reversal occurred. This bullish signal indicates a shift in momentum and a potential upward trend for LINA. Considering this technical setup, my price target for LINA is set at the $0.0195 resistance level. If the current bullish momentum continues, breaking through this resistance could open the doors for further upside potential. Overall, the recent price action and the support from the 200-day Moving Average indicate a potential reversal on LINA Linear Finance, with a price target of $0.0195 as a key resistance level to watch in the coming days. Looking forward to read your opinion about it.
Long
by TopgOptions
Robinhood will delist Polygon MATICIf you haven`t sold MATIC here: Then you should know that Robinhood, the well-known trading platform, will discontinue its support for three cryptocurrencies implicated in SEC lawsuits against Binance and Coinbase. Effective from June 27, 2023, Robinhood will no longer provide support for Cardano (ADA), Polygon (MATIC), and Solana (SOL). In My opinion MATIC will test the support of $0.50. Looking forward to read your opinion about it.
MShort
by TopgOptions
2
MANA Decentraland is considered a security by the SECIf you haven`t sold MANA here: Then you should know that recently the U.S. Securities and Exchange Commission (SEC) classified Decentraland (MANA) as a security. This means that MANA, the native cryptocurrency of the Decentraland virtual reality platform, is now subject to securities regulations and requirements imposed by the SEC. The decision to categorize MANA as a security by the SEC signifies that it is considered an investment contract, representing ownership or participation in a particular project or platform. As a result, Decentraland and MANA will be subject to compliance with applicable securities laws, including registration, reporting, and other regulatory obligations. This classification by the SEC highlights the increasing scrutiny and regulation of cryptocurrencies, particularly those involved in projects that resemble traditional securities offerings. My short term price target is $0.35. Looking forward to read your opinion about it.
Short
by TopgOptions
TON Toncoin has been classified as a security by the SEC !The SEC's classification of Telegram's Gram (TON) as a security highlights the regulatory scrutiny surrounding certain cryptocurrencies. This classification implies that Gram tokens are considered investment contracts, subjecting them to securities regulations and requirements. Such regulatory actions aim to protect investors and ensure compliance within the evolving cryptocurrency landscape. It reinforces the importance for cryptocurrency projects to navigate the regulatory landscape diligently and ensure compliance with applicable securities laws to foster investor confidence and industry growth. My Price Target for TON is $0.73. Looking forward to read your opinion about it!
Short
by TopgOptions
1
XMR Potential Ban of anonymous crypto projects !If you haven`t sold XMR here: Then i will remind you that Monero (XMR) has gained popularity for its capacity to enhance user anonymity, making transactions challenging to trace through the utilization of stealth addresses. However, this aligns with a goal that regulators do not necessarily support in the cryptocurrency space. A leaked version of a US draft bill has surfaced, suggesting the elimination of anonymous crypto projects. The proposal also mandates that DAOs, DeFi platforms, and exchanges register legally in the United States. This development indicates a potential shift towards greater regulation and oversight within the industry. My price target for XMR is $96.50. Looking forward to read your opinion about it!
XShort
by TopgOptions
XDC Network Potential RetracementIn my opinion, considering the current market conditions and the broader performance of cryptocurrencies, XDC (XinFin Network) could face downward pressure and potentially trade lower at this time. Many cryptocurrencies have experienced a recent decline in value due to various factors such as market corrections, regulatory concerns, or shifts in investor sentiment. XDC may not be immune to these trends and could be influenced by the overall market sentiment. My price targets are $0.030 and $0.024. Looking forward to read your opinion about it.
Short
by TopgOptions
Bitcoin Head and Shoulders Price TargetIf you haven`t sold BTC here: Then Bitcoin, currently trading at $26,510, has formed a head and shoulders pattern, indicating a possible bearish trend ahead. This chart pattern consists of three peaks, with the middle peak forming the head and the other two forming the shoulders. The neckline, a crucial support level, becomes a focal point as a break below it could trigger further downward movement. While the target for the head and shoulders pattern suggests a larger decline, attention should also be given to the 200-day moving average support at $23,440. This level has historically acted as a significant support zone for Bitcoin. Therefore, it is reasonable to anticipate a potential drop towards this level. It's important to consider that technical patterns are not infallible, and market sentiment and external factors can influence price movements. Bitcoin's volatility adds an element of unpredictability, making it essential to exercise caution and keep an eye on market developments. Looking forward to read your opinion about it.
Short
by TopgOptions
ETH Ethereum Head and Shoulders Bearish Chart PatternIf you haven`t sold Ethereum here: Then you should know that Ethereum, currently trading at $1841, has formed a head and shoulders pattern, indicating a potential bearish trend. This pattern consists of three peaks, with the middle peak forming the head and the other two forming the shoulders. The neckline, a key support level, must be closely watched as a break below it may trigger a further price decline. While the target for the head and shoulders pattern suggests a larger drop, attention should also be given to the 200-day moving average support at $1620. This level has historically served as a significant support zone. Traders and investors should monitor Ethereum's price movement closely to gauge whether it reaches this support level. In summary, the emergence of a head and shoulders pattern in Ethereum signals a bearish sentiment. Traders and investors should exercise caution, closely track the neckline support, and keep an eye on the 200-day moving average as a potential support level. Looking forward to read your opinion about it.
Short
by TopgOptions
AXS Axie Infinity Triangle Formation BreakdownI don`t know if you have seen my preview AXS chart that had more than 500 Likes: In its recent case against Binance, the SEC introduced 10 cryptocurrencies into the securities classification: BNB (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS) and COTI (COTI). The AXS (Axie Infinity) cryptocurrency recently experienced a breakdown of a triangle formation, signaling a potential bearish pattern. A triangle formation is a common technical chart pattern characterized by converging trendlines, indicating a period of consolidation before an anticipated breakout. In the case of AXS, the breakdown of the triangle formation suggests a shift in market sentiment towards a bearish bias. This breakdown occurs when the price falls below the lower trendline of the triangle, indicating a potential continuation of the downtrend or a decline in price. Traders and investors who closely monitor technical patterns may view the breakdown of the AXS triangle formation as a bearish signal, potentially prompting them to consider short positions or adjust their existing trading strategies accordingly. Considering the above, my prite target for AXS Axie Infinity is $3.55, its strongest support. Looking forward to read your opinion about it.
Short
by TopgOptions
ATOM Cosmos Bearish Pennant PatternIn its recent case against Binance, the SEC introduced 10 cryptocurrencies into the securities classification: BNB (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS) and COTI (COTI). A bearish pennant is a technical chart pattern that typically occurs during a downward trend in a financial market. It is characterized by a small symmetrical triangle formation, with converging trendlines that resemble a pennant shape. This pattern suggests a temporary pause or consolidation in the price movement before a potential continuation of the downtrend. When a bearish pennant pattern breaks down, it means that the price has moved below the lower trendline, signaling a potential resumption of the downtrend. This breakdown is considered a bearish signal and may indicate further downward price movement in the near term. Traders and investors often monitor bearish pennants and their breakdowns as potential opportunities to initiate or add to short positions or to manage existing bearish trades. My price Target for ATOM is $5.60. Looking forward to read your opinion about it.
Short
by TopgOptions
MASTER THE MARKET WITH CONFIDENCE & DISCIPLINEIf you asked me to distill trading down to its simplest form, I would say that it is a pattern recognition numbers game. We use market analysis to identify the patterns, define the risk, and determine when to take profits. The trade either works or it doesn't. In any case, we go on to die next trade. It's that simple, but it's certainly not easy. In fact, trading is probably the hardest thing you'll ever attempt to be successful at. That's not because it requires intellect; quite the contrary! But because the more you think you know, the less successful you'll be. Trading is hard because you have to operate in a state of not having to know, even though your analysis may turn out at times to be "perfectly" correct. To operate in a state of not having to know, you have to properly manage your expectations. To properly manage your expectations, you must realign your mental environment so that you believe without a shadow of a doubt in the five fundamental truths. Today, I am going to give you a trading exercise that will integrate these truths about the market at a functional level in your mental environment. In the process, I'll take you through the three stages of development of a trader. The first stage is the mechanical stage. In this stage, you: 1. Build the self-trust necessary to operate in an unlimited environment. 2. Learn to flawlessly execute a trading system. 3. Train your mind to think in probabilities (the five fundamental truths). 4. Create a strong, unshakeable belief in your consistency as a trader Once you have completed this first stage, you can then advance to the subjective stage of trading. In this stage, you use anything you have ever learned about the nature of market movement to do whatever it is you want to do. There's a lot of freedom in this stage, so you will have to learn how to monitor your susceptibility to make the kind of trading errors that are the result of any unresolved self-valuation issues I referred to in the last chapter. The third stage is the intuitive stage. Trading intuitively is the most advanced stage of development. It is the trading equivalent of earning a black belt in the martial arts. The difference is that you can't try to be intuitive, because intuition is spontaneous. It doesn't come from what we know at a rational level. The rational part of our mind seems to be inherently mistrustful of information received from a source that it doesn't understand. Sensing that something is about to happen is a form of knowing that is very different from anything we know rationally. I've worked with many traders who frequently had a very strong intuitive sense of what was going to happen next, only to be confronted with the rational part of themselves that consistently, argued for another course of action. Of course, if they had followed their intuition, they would have experienced a very satisfying outcome. Instead, what they ended up with was usually very unsatisfactory, especially when compared with what they otherwise perceived as possible. The only way I know of that you can try to be intuitive is to work at setting up a state of mind most conducive to receiving and acting on your intuitive impulses. The mechanical stage of trading is specifically designed to build the kind of trading skills (trust,confidence, and thinking in probabilities) that will virtually compel you to create consistent results. I define consistent results as a steadily rising equity curve with only minor draw downs that are the natural consequence of edges that didn't work. Other than finding a pattern that puts the odds of a winning trade in your favor, achieving a steadily rising equity curve is a function of systematically eliminating any susceptibility you may have to making the kind of fear, euphoric or self-valuation based trading errors I have described throughout this book. Eliminating the errors and expanding your sense of self-valuation will require the acquisition of skills that are all psychological in nature. The skills are psychological because each one, in its purest form, is simply a belief. Remember that the beliefs we operate out of will determine our state of mind and shape our experiences in ways that constantly reinforce what we already believe to be true. How truthful a belief is (relative to the environmental conditions) can be determined by how well it serves us; that is, the degree to which it helps us satisfy our objectives. If producing consistent results is your primary objective as a trader, then creating a belief (a conscious, energized concept that resists change and demands expression) that "I am a consistently successful trader" will act as a primaiy source of energy that will manage your perceptions, interpretations, expectations, and actions in ways that satisfy the belief and, consequently, the objective. Creating a dominant belief that "I am a consistently successful trader" requires adherence to several principles of consistent success. Some of these principles will undoubtedly be in direct conflict with some of the beliefs you've already acquired about trading. If this is the case, then what you have is a classic example of beliefs that are in direct conflict with desire. The energy dynamic here is no different from what it was for the boy who wanted to be like the other children who were not afraid to play with dogs. He desired to express himself in a way that he found, at least initially, virtually impossible. To satisfy his desire, he had to step into an active process of transformation. His technique was simple: He tried as hard as he could to stay focused on what he was trying to accomplish and, little by little, he de-activated the conflicting belief and strengthened the belief that was consistent with his desire. At some point, if that is your desire, then you will have to step into the process of transforming yourself into a consistent winner. When it comes to personal transformation, the most important ingredients are your willingness to change, the clarity of your intent, and the strength of your desire. Ultimately, for this process to work, you must choose consistency over eveiy other reason or justification you have for trading. If all of these ingredients are sufficiently present, then regardless of the internal obstacles you find yourself up against, what you desire will eventually prevail. The first step in the process of creating consistency is to start noticing what you're thinking, saying, and doing. Why? Because everything we think, say, or do as a trader contributes to and, therefore, reinforces some belief in our mental system. Because the process of becoming consistent is psychological in nature, it shouldn't come as a surprise that you'll have to start paying attention to your various psychological processes. The idea is eventually to learn to become an objective observer of your own thoughts, words, and deeds. Your first line of defense against committing a trading error is to catch yourself thinking about it. Of course, the last line of defense is to catch yourself in the act. If you don't commit yourself to becoming an observer to these processes, your realizations will always come after the experience, usually when you are in a state of deep regret and frustration.Observing yourself objectively implies doing it without judging about yourself. This might not be so easy for some of you to do considering the harsh, judgmental treatment you may have received from other people throughout your life. As a result, one quickly learns to associate any mistake with emotional pain. No one likes to be in a state of emotional pain, so we typically avoid acknowledging what we have learned to define as a mistake for as long as possible. Not confronting mistakes in our everyday lives usually doesn't have the same disastrous consequences it can have if we avoid confronting our mistakes as traders. For example, when I am working with floor traders, the analogy I use to illustrate how precarious a situation they are in is to ask them to imagine themselves walking across a bridge over the Grand Canyon. The width of the bridge is directly related to the number of contracts they trade. So, for example, for a one-contract trader the bridge is very wide, say 20 feet. A bridge 20 feet wide allows you a great deal of tolerance for error, so you don't have to be inordinately careful or focused on each step you take. Still, if you do happen to stumble and trip over the edge, the drop to the canyon floor is one mile. I don't know how many people would walk across a narrow bridge with no guardrails, where the ground is a mile down, but my guess is relatively few. Similarly, few people will take the kinds of risks associated with trading on the floor of the futures exchanges. Certainly a one-contract floor trader can do a great deal of damage to himself, not unlike falling off a mile-high bridge. But a one-contract trader also can give himself a wide tolerance for errors, miscalculations, or unusually violent market moves where he could find himself on the wrong side. 1. all our beliefs are in absolute harmony with our desires, and 2. all our beliefs are structured in such a way that they are completely consistent with what works from the environment's perspective. Obviously, if our beliefs are not consistent with what works from the environments perspective, the potential for making a mistake is high, if not inevitable. We won't be able to perceive the appropriate set of steps to our objective. Worse, we won't be able to perceive that what we want may not be available, or available in the quantity we desire or at the time when we want it. On the other hand, mistakes that are the result of beliefs that are in conflict with our objectives aren't always apparent or obvious. We know they will act as opposing forces, expressing their versions of the truth on our consciousness, and they can do that in many ways. The most difficult to detect is a distracting thought that causes a momentary lapse in focus or concentration. On the surface this may not sound significant. But, as in the analogy of the bridge over the canyon, when there's a lot at stake, even a slightly diminished capacity to stay focused can result in an error of disastrous proportions. This principle applies whether it's trading, sporting events, or computer programming. When our intent is clear and undiminished by any opposing energy, then our capacity to stay focused is greater, and the more likely it is that we will accomplish our objective. You have to be able to monitor yourself to some degree, and that will be difficult to do if you have the potential to experience emotional pain if and when you find yourself in the process of making an error. If this potential exists, you have two choices: 1. You can work on acquiring a new set of positively charged beliefs about what it means to make a mistake, along with de-activating any negatively charged beliefs that would argue otherwise or cause you to think less of yourself for making a mistake. 2. If you find this first choice undesirable, you can compensate for the potential to make errors by the way you set up your trading regime.
Education
by moonypto
FREE 12 WEEKS INTENSIVE TRADING PROGRAM 📚 Hey traders, For those who just started to trade, I suggest a 12 weeks intensive training program. Each week will be dedicated to a specific topic. Starting from the basics you will gradually mature and by the end of the intensive you will have a complete trading strategy. ✔️Week 1 - Practice market trend identification Learn to identify the direction of the trend. Master the recognition of a bullish trend, bearish trend and sideways market. ✔️Week 2 - Practice support and resistance. Learn to identify key levels. Master support & resistance recognition. ✔️Week 3 - Learn candlestick pattern. Study classic candlestick formations and practice their recognition. ✔️Week 4 - Learn price action patterns. Study classic price action patterns: trend-following patterns, reversal patterns and consolidation pattern and learn to recognize them. By the end of the first month, you will mature the basics of candlestick chart analysis. ✔️Week 5 - Practice supply and demand zones. Learn to identify supply and demand zones. Learn to combine candlestick analysis with support and resistance to identify the potential reversal zones. ✔️Week 6 - Practice multiple time frame analysis. Master top-down analysis. Learn to apply all the techniques studied previously on multiple time frames. ✔️Week 7 - Learn different entry strategies. With all the knowledge being obtained, you can practice different entry techniques. You can try trading candlesticks patterns or price action patterns, or simply key levels. Search what works for you. ✔️Week 8 - Learn risk management. Of course, entry strategies are not enough for profitable trading. Learn how to set stop loss and how to manage your risks properly. By the end of the second month, you will have a foundation for a strategy building. ✔️Week 9 - Practice trade management. Knowing how to enter the trade and how to manage the risks, the next step is to learn how to manage the active position (stop loss trailing, position protection, manual closing, etc.) ✔️Week 10 - Create a trading plan. Combine all the knowledge that you gained in a structured trading plan. ✔️Week 11 - Follow the strategy. Be disciplined and follow your rules. Test them and learn to be consistent. ✔️Week 12 - Review your plan. Following your strategy, you will inevitably find its flaws. Learn to constantly improve it. By the end of the third month, you will have a complete rule-based trading strategy. Of course, that won't be a perfect strategy, but you will have broad knowledge in technical analysis. The next 3 months alone should be sacrificed on polishing and improvement of your trading plan. Try this intensive, traders. I strongly believe that you will see a dramatic improvement in your trading upon its completion. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Education
by VasilyTrader
15
POTENTIAL LONGER TERM BUY OPPORTUNITY IN SUSHIUSDTThanks for reading my previous post on AUDNZD,ADAUSDT,BTCUSDT,ONEUSDT and now SUSHI USDT I believe there is a value BUY now on SUSHI USDT to hold for a longer term based on technicals and new fundamental development in the DEFI space. There is huge opportunity for the SUSHI PLATFORM to explode as it delves into different forms of Yield Farming and also helping users to lower cost across many chains of interoperability. My first scenario of short opportunity is currently playing out and it's nearing my new buy entry for a longer term @ near $4.50. This is the scenario am voting for should in case the Crypto market choose to move 100X. I hope you enjoy reading this and hopefully profit from it
Long
by LukmanBalogun
Japanese candlesticks are better than any indicator Although indicators can help in the process of constant trading, nothing compares to Japanese candlesticks , which in themselves show who is stronger in the market, buyers or sellers. Using technical analysis in your favor is crucial for understanding what may happen next in the market. But... Japanese candlesticks often give the clearest picture of them all. Learn to read what Japanese candles show. Understanding who is currently dominating the market can significantly help you in acquiring additional mergers that are necessary not only to confirm your pattern but also to determine in advance what the price can do next. Financial markets are a continuous open battlefield of buyers and sellers. Look for a strong side to be with the dominant side in the market. ❤️ Please, support our work with like & comment! ❤️
Education
by SignalProvider
9
YOUR SUCCESS IN TRADING | Expectations VS Reality 💰🤔☠️ Hey traders, Being a full-time trader & running a coaching program for the last three years, I met hundreds of struggling traders from different parts of the globe. Guess why the majority of them could not make it? What was the main reason for their bad luck? It wasn't their trading strategy, nor their technical analysis. The source of their failure was the expectations. Trying different trading strategies, following the signals of different signal providers, these traders expected quick gains and exponential account growth. They were actually in a state of a constant search of a holy grail, of a magic wand that will open Pandora's box to them. Just a single losing trade made them skeptical while the first losing streak made them drop the strategy and return back to the search. They keep spending thousands of dollars on trading strategies promising them close to 100% win rate. There is this common mantra, the stereotype about a pro trader: a guy with 4 screens making a quick buck on each and every market rally, driving Lambo, and living in a mansion. Unfortunately, the reality is different. Ahead you will encounter loneliness, losses, pain, and disapproval. The road to success in this game is long and dangerous. Get ready to see the skepticism in the eyes of your relatives and friends. Many years and tons of money must be spent in order to make it. But even mastering the system, becoming a consistently profitable trader you will not constantly beat the market. Your wins will just slightly outperform your losses giving you the means for living. If you are ready for that if you are courageous enough to start and to proceed no matter what, you are already one step ahead of the majority. Be prepared to work hard and practice much, set a correct goal, and sacrifice your presence for the sake of an independent and prosperous future. Are you ready? ❤️Please, support this post with a like and comment!❤️
Editors' picks
Education
by VasilyTrader
145
Reason Why You Draw Elliott Waves WRONGThe Elliott wave principle is known to every floor trader. Now, in 2019, I started noticing appearance of huge amount of beginners using this model in their analytics confidently, but could make errors in forms. It leads to formation of wave moving graphic, which don’t correspond to The Elliott wave principle and is wide to be truth. As a result, people lose their money. In this article I would like to describe all the nuances and try to do it as understandable as possible., highlighting the points which are often neglected. According to The Elliott wave principle, each market decision is the source of significant information and it’s effect in equal measure. Each transaction is a part of the market structure serving as a cause and consequence of the behaviour of others, due to the delivery of the transaction data to investors. This interrelation is owing to social aspects of "human nature" and it generates some forms. Due to the fact of the repetition of figures, it has predictive meaning. It seems that sometimes the market reflects to the external conditions and events, but at other times it stays completely independent of what most people consider causal conditions. The point is the market has it’s own law. His movement is not always conditioned and predictable, which many get used to in daily living. The market is also not a cyclical system, as some proclaim, despite the fact that it’s moving reflects a structured, rigorous sequence. This sequence presented in waves, so those waves are models of the directional movement, specifically: Wave is one of the model which naturally develops according to The Elliott wave principle Five-wave model: The development of price movement, ultimately, forms a special wave structure. Three of them, marked with the designations O-1, 2-3 and 4-5, make directional movement indeed. They are split by countertrend interruptions- the opposite direction waves, marked as 1-2, and 3-4. These interruptions are undoubtedly an integral part of the general directional movement. R.N. Elliott did not specifically emphasize that there is only one basic figure - the “five-wave” model, but this is definitely a fact. At any time, the market can be estimated as being somewhere on the base five-wave model of the highest wave level of movement. the five-wave model is the basic figure of the market movement; therefore, all models can be composed of it. Wave mode: There are two styles of wave development: motive and corrective. Motive waves have a five-wave structure, while corrective waves have a three-wave structure or their varieties. The motive style is the basis of the five-wave structure in the figure above, and its unidirectional components, i.e. waves O-1, 2-3 and 4-5. Their structures are called “moving” because they put the market in considerable motion and are co-directional with the trend. The corrective style is the basis of all interruptions in the opposite direction, which include waves 1-2 and 3-4 in the picture above. Their structure is called “corrective” because they can only perform a partial interruption or “correction” from the movement achieved by any previous driving wave. Overall, these two styles are fundamentally different in their role and in their structure, what will be described in detail in this article. Twists and turns of the full cycle: R.N. Elliott indicated In his 1938 book, “The Law of the Waves”, that the stock market is developing in accordance with a basic rhythm or model of five upward waves and three downward waves, forming a complete cycle of eight waves. A model of five upward waves followed by three downward waves is shown below: In addition, one complete cycle, consisting of eight waves can be represented by two different phases: the impulsive phase, whose composite waves with a level less than indicated by numbers, and the correction phase, whose subwaves are indicated by letters. The order a, b, c corrects the order 1, 2, 3, 4, 5, as shown in the image above (just as waves 2 and 4 correct waves 1 and 3, respectively) . After the end of the wave cycle shown in the 2nd image, the second similar cycle of five upward waves begins, followed by three downward waves. Then the third stage of movement develops, also consisting of five upward waves. This third stage ends the five-wave motion with one wave level higher than the level of the waves of which it consists. The result is shown in the image below to the peak indicated by (5). At the peak of wave (5), a downward movement of a correspondingly higher wave level begins consisting of three waves again. These three waves of the next wave level “correct” the movement of five upward waves of the same level. The result is another complete cycle, but at a higher wave level, as shown in the 3rd image. In the same picture, each unidirectional component of the motive wave of a full cycle and each full-cycle component (i.e., waves 1 + 2 or waves 3 + 4) of this cycle are a reduced version of the same cycle, i.e. waves of a finer wave level. {Waves (1), (3) and (5) - reduced copies of the wave ; waves 1, 3 and 5 - reduced copies of waves (1), (3) and (5); waves (1) + (2), (3) + (4) - reduced copies of waves + ; waves 1 + 2, 3 + 4 - reduced copies of waves (1) + (2), (3) + (4) *} (Below I will denote the waves by abbreviated notation, namely (O-1) = (1), (1-2) = (2), (2-3) = 3, (3-4) = 4, (4 -5) = 5. (O-A) = (A), (AB) = (B), (BC) = (C).) It is really important to understand the main point: the 3rd image not only illustrates the expanded version of the figure, made up of the figure in the 2nd image. Moreover, it shows the same figure from the 2nd image, but in more detail. In the 2 image, each subwave 1, 3 and 5 is a motive wave that can be divided into “fives”, and each subwave 2 and 4 is a corrective wave that can be divided into a, b waves, c. If we consider the waves (1) and (2) on the 3rd image elaborately, they form the same figure as the waves and . All these images demonstrate the phenomenon of an invariable form inside an always changing wave level. The composite structure of market prices is such that two waves of the same wave level are divided into eight waves of a smaller wave level, and these eight waves are divided in the same way into thirty-four waves of the next wave level. In this case, The Elliott wave principle reflects the fact that waves of any wave level, in any sequence, can always be divided again and again into waves of a lower level and at the same time they are also components of waves of a higher wave level. Consequently, we can use the 3rd image. to show two waves, eight waves or thirty-four waves, depending on the wave level to which we refer. Fundamental concepts: The phenomena of form, wave level and relative motion are even more detailed on the 4th image. This illustration reflects the basic law - on any market cycle, the waves are distributed as shown below. Number of waves at each level: Motive + Corrective = Cycle The highest level 1 + 1 = 2 The level below 5 + 3 = 8 Next level down 21 + 13 = 34 Next level down 89 + 55 = 144 No figures on the 2nd image and 3m image., neither the figure on the 4m image means the end of their development. As before, the end of another eight-wave movement (five up and three down) completes the cycle, which automatically becomes two components of the wave of the next wave level. As long as wave development continues, the process of constructing higher wave levels continues. The reverse process of separation into smaller wave levels also continues unlimitedly. In this case, as far as we can judge, all waves are composed of wave components, and are such. R.N. Elliott himself never made an assumption why the underlying market structure consists of five waves of growth and three waves of interruption. He simply noted that this is the fact. Should the foundational structure necessarily consist of five and three waves? Think and you will understand that this is a necessary minimum, providing translational motion simultaneously with elements of forward movement, and with elements of interruption, and, therefore, the most effective way of such movement. One wave does not contain an interruption. The minimum set for the interruption is three waves. Three waves in both directions will not provide translational motion. In order to move in one direction regardless of the duration of the interruption the movement in the main direction should contains at least five waves just to exceed the interruption from three waves and still contain these interruptive waves. Although to ensure this there could have been more waves than in our case but the most rational figure of guaranteed forward movement is 5-3 = 5-C, and nature usually follows the most rational path. The Elliott wave principle would be easy to apply if the main issues described above constitute a complete description of market behaviour. However, the real world, fortunately or unfortunately, is not so simple. Next, we describe the market behaviour in real life. This is what Elliott intended to describe, and he succeeded. Leave your like to speed up an update on this idea. There we will talk about one of the very titled traders who became the winner of the US Championship in trading in 1984 with a real cash account and set a record that has not been broken so far .
BITSTAMP:BTCUSD
by BillCharison
168
ETH/USD - Market OverviewThis is a follow on analysis from my previous ETH/USD analysis, which went perfectly to plan (See related ideas below for more information) When analyzing ETH/USD on the 8 hour chart, it is clear price hit side-wards resistance, and has broken down since. It was clear we would have downwards movement from this zone. Price is trading lower, and could retest side-wards resistance first before a breakdown. Price will break down in one of two ways, they are: - Price continues to break down to the lows without correction, and hits the horizontal support zone at 498. - Price retests the side-wards resistance line at 585, before retesting, breaking down, and hitting the support zone at 580. The only way I will change my mind on price trading to the downside is if price breaks above the side-wards resistance line, retests it as a new support and goes to the upside. Bare in mind, just because 498 is the horizontal support zone, it does not mean price has to go this low. This is simply the lowest it can go. I will continue to update this analysis if enough people request it. Please leave a LIKE and follow. I'd really appreciate it.
BITFINEX:ETHUSD
by TomProTrader
17
AUD/USD - Downside LikelyHi traders, hope you're all having a good weekend. We have a potential setup forming for AUD/USD on the 4H chart with a breakdown trade. This could be an excellent shorting opportunity. I have tested a few hypothetical trading scenarios that could come into play when the FX market opens later. Each time, I have got over an 1:2 Risk to Reward. When analyzing the pair, I discovered that price seems to react when it hits specific technical levels. Each time price hits the sideways resistance, it seems to test the resistance, and price stalls, and falls into the lows. I then zoomed out on my chart, and drew the line acting as sideways resistance further back. I was surprised to discover that the sideways resistance line I'd drawn had been having a strong affect on price for a very long time (Since May 2017). With this information, I now knew that the sideways resistance line I'd discovered was more likely to be reliable, because it had been having an affect on price for a long time. I then discovered that price is currently at a horizontal support level as well, and is about to break the support level. If price breaks the horizontal support, coupled with the discovered sideways resistance, I believe these lines will act as a very strong resistance ceiling. At the resistance line there is multiple reversal candlesticks showing weakness. And a clear Fibonacci retracement was hit. This further consolidates that we have hit a resistance level in play. I am expecting a down move of 55-100 pips. If price is not affected by local support levels, it will achieve the full 100 pips. Only if a minor support affects price it will not achieve target. Upon using a Stochastic indicator on this instrument, I discovered a strong hidden bearish divergence. I am personally not an indicator trader, but to those who do may find this information useful. Do remember that price needs to open below the current price & support level, to be favorable to trade. So it is important to watch this trade carefully before considering a position. I will be posting updates on this trade below as it progresses, so like & follow to keep at to date with this analysis. If you have any questions or queries on this trade, feel free to connect.
Short
by TomProTrader
7
Expect a turn on GBPJPYThe pair might soon experience an abrupt change to the downside. Firstly the whole move tho the upside did not have much of a correction which would be commensurable in time and price. Secondly, the pair is potentially positioned in wave B. This causes us to think that there will be a C wave down. Thirdly, GBPJPY is forming a pattern which Fractology identifies as a reversal pattern. Fractology would advise waiting for a move before taking any trades. After that happens we will find a place to sell within a corrective pattern.
Short
by AleksandrLombrozo
EURGBP is about to reverse downWeeks ago We published our bullish view on EURGBP. (Check the link - www.fractology.biz ) Since then the pair has risen up more than 5 percent. It was a spectacular chance to increase your trading account. At the moment We have revised the analysis and expect a complete reversal. This should become possible within an enormous daily zigzag move which represented a correction since an impulse down in October and November 2016. However, Fractology advises waiting for the price to violate the trendline down and correct itself to make that move possible.
Short
by AleksandrLombrozo