Let's summarize how this pattern was played and what I did. These patterns are commonly found in corrective sub waves. In an impulse up or against the trend, usually the wave 2 and 4 alternate. For example if wave 2 does ABCDE , wave 4 has a strong chance to do an ABC.
We see a great ABCDE forming, then breaks down heavily.
The trend line channel support, if broken, was the signal to enter to our target.
We also notice the 15 minute RSI in a descending triangle pattern, which signaled once the RSI support was broken, we short.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
My Comprehensive List of Tutorials
Please considering upvoting or buying myself and Luna (my dog) a beer/lunch in the tip jar IF AND ONLY IF it has helped improved your game substantially.
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - How to Analyze Candlesticks Charts with Strategy
Lesson 3 - Moving Averages
Lesson 4 - Relative Strength Index RSI with Advanced Strategy
Lesson 5 - MACD and Histogram
Lesson 6 - Margin Trading Long, Short, Leveraging
Lesson 7 - Basic Risk Management
Lesson 8 - Fibonacci Retracement Part 1
Lesson 9 - Fibonacci Extension Part 2
Lesson 10 - Laddering
Lesson 11 - How To Interpret Time Frames
Lesson 12 - Swing Trading Advanced 55 EMA Strategy
Lesson 13 - Introduction To Elliot Wave Theory
Lesson 14 - Using a Basic Excel Tracker for Risk Management
Lesson 15 - Automatic Stop Sell/Buy Executions
Lesson 16 - Advanced 55 EMA Strategy with Time Frames and MACD Part 2
Lesson 17 - 6 Hours Live Trade Scalping. Growing $2,000 Account into $3,500
Lesson 18 - Bitcoin BTC Feb 6 - BTC Update - Summary of ABCDE with live play.
Lesson 19 - Elliot Wave Theory, Fibonnaci Retracement & Extension (Combined with Feb 11 BTC TA)
Twitter - https://twitter.com/PhilakoneCrypto
Youtube - https://www.youtube.com/user/philakone1
If I've helped you, consider buying Luna and myself a beer
BTC address: 1PruhmsYXU2gPkNw574xZSMyBG4YW5Wnq9
Ethereum: 0x2538b728f9682fc1dc2e7db8129730f661753850
LTC: LPeaZpGiF3XdCw5XPN7LXztDagTEZAMgYd
Bitcoin Cash: 1AY2FPANCe5URB71Nvy6tkCgoTS8iHgmZD
The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.
DISCLAIMER:
Legal stuff here. I'm not financial advisor. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish.
My current reading list:
Technical Analysis of Stock Trends
Five Waves to Financial Freedom
Elliott Wave Principle Key to Market Behavior
Any other recommendations? I really value your opinion.
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My ones:
Reminiscences of a stock operator
Technical analysis of financial markets
Naked Forex
All Market Wizard series books
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Thanks I actually just switched from Technical Analysis of Stock Trends to Technical Analysis of Financial Markets after reading the 1st few chapters of TAST. Although TAST is a classic TAFM is much more straight forward imo.
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Thank you so much for this knowledge
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Happy to share my friend!
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If anyone talks shit to you again, just tell them to 1v1 Bitfinex Wildy
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LOLOL
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Good job
Upvote me please
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you have a new follower!
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i was seeing one of your previous thumbnails. Do you play dota?
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used to play dota! :) a long time ago. But now trading took over
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best channel ever... but im scared if someone becomes too popular the whales will do opposite to what u analyse
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Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.youtube.com/channel/UCeu9yMweVfTCftF9gvnuGeADownvoting a post can decrease pending rewards and make it less visible. Common reasons:
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Perfect lesson! will be upvoting u forever. Thank you extremely much
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You have made me a student of Elliot wave!
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I finally opened a steemit account to give you all the upvotes forever! The least I could do for all the great knowledge you have dropped on me.
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I feel very honored and am happy to see you here!
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I’m one of those people that have joined steemit just so I can upvote your posts also.
The wealth of knowledge you provide for the masses is fantastic.
Your TA’s are awesome, you get your point across very well; and don’t ever think you’re being cocky at all. When you’re right, you’re right. Be proud of yourself.
Don’t stress about the dicks on Twitter causing you grief. They’re ignorant. You’re not.
Keep up the good work, I will upvote your every post.
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Tutorial Series philakone
Thank You!
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