Supports, Resistances, and Doji

[taowave]

Your batting average is .250 at best,and your avg loss appears to be 40 percent plus.

You admit that you cant afford a margin call on miniscule positions on 15 dollar numbers.So whatever you are doing,doesn't work

That's the reality you have presented.

I have many more examples posted on here in multiple threads...basically I don't post charts without a future price projection or level...I projected bitcoin price over a year prior to the last rally to 70k...loaded up BITO leaps...and projected price 3 months out from the highs. Unless you understand EW you are trading in the dark...being reactive. I am more proactive.

Anyway this isn't magic...go to any EW forum and this is normal. I came to ET not expecting to learn more TA, but felt I could learn more about options.

 

[wxytrader]

How about posting a chart of your predition of BTC to year end.

Wave basis

Nothing much to see right now so I basically just drew a trendline.

My long term target. Also check out ChainExposed - Supply In Profit/Loss (%) and https://charts.bitbo.io/cycle-repeat/

 

[deaddog]

My long term target.

There are a lot of question marks on those charts. Pretty hard to come up with a trading strategy based on question marks.
What exactly is your long term target?
Is there a trading strategy for the trend line?

 

[wxytrader]

There are a lot of question marks on those charts. Pretty hard to come up with a trading strategy based on question marks.
What exactly is your long term target?
Is there a trading strategy for the trend line?

Going to make me work are ya? I'd be legging in here, and at c (Y) I would be loading up.

You could drop down to the 30 min, and focus on the b--->c(X) leg, and trade the sub-divisions to pinpoint entries. Here it shows that we could have another leg down so I would probably wait to enter until b (or 2 if a single correction) completes.

The reason I would be legging in here and not waiting for c (Y) is, as mentioned, we don't know if this is going to be a double correction yet. It could be a single.

 

[volpri]

I have many more examples posted on here in multiple threads...basically I don't post charts without a future price projection or level because that's what EW is all about. I projected bitcoin price over a year prior to the last rally to 70k...loaded up BITO leaps...and projected price 3 months out from the highs. Unless you understand EW you are basically trading in the dark...being reactive. I am more proactive.

Anyway this isn't magic...go to any EW forum and this is normal. I came to ET not expecting to learn more about TA, but felt I could learn more about options.

I should mention that EW encompasses chart patterns, Cyphers, wychoff, stages, order blocks etc...but without the foundation of EW you are only getting snapshots.

It is hard enough to discern where price might be 15 minutes out. And a year out? No one knows. Elliot developed his theories on market indexes, 30m charts. Why can’t you do this live for us on a SIM using ES. Ralph died I believe it was 1948. While it is true the market moves in cycles EW is subjective and often requires renumbering the impulse or corrective waves until you get lucky and hit it correctly.

A more scientific way of measuring cycles might be J.M. Hurst methodologies. Or George Douglas Taylor. But they all require some adjustment depending on what price ACTUALLY does. So…..why not just go with live price action. At least there a trader knows what it HAS done, HOW it did it, and WHAT will likely happen next.

Since EW is fractal you should be able to trade it live for us on an intraday chart and draw the price patterns out for us BEFORE they happen. For instance: Elliot Wave now predicts the next chart pattern will be……._______________. (Fill in channel…trend…triangle…flag…wedge..etc)

I know you won’t do this for us Monday because you likely cannot. It would harm your reputation of “does it make you guys mad that I am always right.”

I leave you with this which is much more likely to be closer to reality. “Linda Bradford Raschke once said “the best indicator of price is price itself.” That my friend is gold.

PS. Bradford thought highly of Taylor.

 

[deaddog]

The reason I would be legging in here and not waiting for c (Y) is, as mentioned, we don't know if this is going to be a double correction yet. It could be a single.

That's my problem with EW is that we don't know.

Anyhow it would be nice if you could add the dates on your chart. We seem to differ with where to draw trend lines. My chart shows a trend line break and a down trend for the last few months.

I also look at the weekly chart with a 10 and 30 SMA. As a Weinstein follower I don't trade much under the 30SMA.

 

[wxytrader]

That's my problem with EW is that we don't know.

Anyhow it would be nice if you could add the dates on your chart. We seem to differ with where to draw trend lines. My chart shows a trend line break and a down trend for the last few months.
View attachment 348557
I also look at the weekly chart with a 10 and 30 SMA. As a Weinstein follower I don't trade much under the 30SMA.

View attachment 348558

But it doesn't matter. That's why I'm legging in. I either make some money or I make more money. I don't understand why you guys have a hard time with the concept that trading is dynamic. It's not static.

I don't use trendlines or moving averages...the dates are c (Y) was Jan 2025.

 

[wxytrader]

It is hard enough to discern where price might be 15 minutes out. And a year out? No one knows. Elliot developed his theories on market indexes, 30m charts. Why can’t you do this live for us on a SIM using ES. Ralph died I believe it was 1948. While it is true the market moves in cycles EW is subjective and often requires renumbering the impulse or corrective waves until you get lucky and hit it correctly.

A more scientific way of measuring cycles might be J.M. Hurst methodologies. Or George Douglas Taylor. But they all require some adjustment depending on what price ACTUALLY does. So…..why not just go with live price action. At least there a trader knows what it HAS done, HOW it did it, and WHAT will likely happen next.

Since EW is fractal you should be able to trade it live for us on an intraday chart and draw the price patterns out for us BEFORE they happen. For instance: Elliot Wave now predicts the next chart pattern will be……._______________. (Fill in channel…trend…triangle…flag…wedge..etc)

I know you won’t do this for us Monday because you likely cannot. It would harm your reputation of “does it make you guys mad that I am always right.”

I leave you with this which is much more likely to be closer to reality. “Linda Bradford Raschke once said “the best indicator of price is price itself.” That my friend is gold.

PS. Bradford thought highly of Taylor.

?

I just provided you a deluge of forecasting. I gave you an entry point, a second entry point and if you want you can decipher the possible exit points. You want me to go on video and sit there for 2 weeks until B completes?

What is the price action at B going to tell you if you haven't done the count leading up to it? It's just going to be some random candles from your point of view. If you take a road trip you only know you have arrived at your destination because you have mapped the trip ahead of time.

I mean I can just drop in on price like I just did now and figure it out...but what are you going to be faced with?

Here.

 

[volpri]

?

I just provided you a deluge of forecasting. I gave you an entry point, a second entry point and if you want you can decipher the possible exit points. You want me to go on video and sit there for 2 weeks until B completes?

What is the price action at B going to tell you if you haven't done the count leading up to it? It's just going to be some random candles from your point of view. If you take a road trip you only know you have arrived at your destination because you have mapped the trip ahead of time.

No not two weeks. One day session only. Is EW not fractal? Was it not in part developed by Ralph on 30m index charts. Lets see you do this live.

 

[volpri]

No not two weeks. One day session only. Is EW not fractal? Was it not in part developed by Ralph on 30m index charts. Lets see you do this live.

Draw the map as it happens not after the fact or hindsight as you like to say. Be a Louis and Clark map out the wilderness as you go along in the canoe!