Stained Glass LINK 2 (not a meme)
Updated
Hellloooo everybody.
Welcome back to the Church of Nazarov my children.
No but seriously, I know it looks like the interior design of Moscow Cathedral or a failed early Windows distribution, but hear me out. You may recall I made a similar one to this a couple of weeks back. I've been experimenting with gann patterns and ideas a lot in this time which I haven't posted, and I've been talking to some other Gann enthusiasts. The theories behind it are a little mind boggling, and you may disregard it as bullshit. However, as you would have seen if you clicked the arrow on the previous chart, just by simply using these mathematical ratios, it often proved as support and resistance for LINK. I'm not saying that this is the absolute best way to analyse this coin, but I'm getting more and more convinced by the day. I'll just say that it has to do with moon cycles as well as other astrology. This put me off at first as well, but if there is a statistical significance to it then as an analyst we must NOT disregard it! Besides, it has bounced off of these lines a few times already. The fan is the most basic of the patterns and easy to use so I'm not going far beyond that yet. You can see my "oracle of seasons" analysis to get a visual demonstration of some of the fundamentals of this. I won't say exactly so as not to give it away fully ;). Those who know, know.
Mainly the 1/2 line is the most important. I draw them from the end of a downwards impulse wave to the top of an impulse wave. This way, we've gotten a few targets that hit already. One scenario is that we get a huge pump and break completely out of the long term channel that goes back to the start of LINK's trading (click and drag on price bar to scroll). That's the thick blue one on the chart so it's a bit clearer amongst the chaos. That could be an impulse wave all the way up to the 30,000-30,200 sats region. This also fits with a 1:1 fib extension target (fib ratios, especially the golden ratio, and the gann patterns often work in synergy).
Alternatively, we could reach the top and not be ready to break through yet, and that would be our local top from which I would draw another fan. Are you starting to get my drift here? Either way, it would portray a full 5 wave structure.
Please don't forget to leave a like! I appreciate them. But you know what I appreciate even more is if you come back in a few days and hit that arrow to see if I was right or wrong, and leave a comment to say what you would have done differently.
Previous "stained glass" analysis:
Welcome back to the Church of Nazarov my children.
No but seriously, I know it looks like the interior design of Moscow Cathedral or a failed early Windows distribution, but hear me out. You may recall I made a similar one to this a couple of weeks back. I've been experimenting with gann patterns and ideas a lot in this time which I haven't posted, and I've been talking to some other Gann enthusiasts. The theories behind it are a little mind boggling, and you may disregard it as bullshit. However, as you would have seen if you clicked the arrow on the previous chart, just by simply using these mathematical ratios, it often proved as support and resistance for LINK. I'm not saying that this is the absolute best way to analyse this coin, but I'm getting more and more convinced by the day. I'll just say that it has to do with moon cycles as well as other astrology. This put me off at first as well, but if there is a statistical significance to it then as an analyst we must NOT disregard it! Besides, it has bounced off of these lines a few times already. The fan is the most basic of the patterns and easy to use so I'm not going far beyond that yet. You can see my "oracle of seasons" analysis to get a visual demonstration of some of the fundamentals of this. I won't say exactly so as not to give it away fully ;). Those who know, know.
Mainly the 1/2 line is the most important. I draw them from the end of a downwards impulse wave to the top of an impulse wave. This way, we've gotten a few targets that hit already. One scenario is that we get a huge pump and break completely out of the long term channel that goes back to the start of LINK's trading (click and drag on price bar to scroll). That's the thick blue one on the chart so it's a bit clearer amongst the chaos. That could be an impulse wave all the way up to the 30,000-30,200 sats region. This also fits with a 1:1 fib extension target (fib ratios, especially the golden ratio, and the gann patterns often work in synergy).
Alternatively, we could reach the top and not be ready to break through yet, and that would be our local top from which I would draw another fan. Are you starting to get my drift here? Either way, it would portray a full 5 wave structure.
Please don't forget to leave a like! I appreciate them. But you know what I appreciate even more is if you come back in a few days and hit that arrow to see if I was right or wrong, and leave a comment to say what you would have done differently.
Previous "stained glass" analysis:
Note
We got to 10 likes, so here's an update!
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