HDRN bullish and Bearish macro levelsKEY: white=monthly, purple=weekly, red=daily, yellow=4 hour.
For the macro: want to see a monthly candle close in the green above that bottom dashed level that’s white and .0000032142 to gain them as support in the future
One layer lower to the weekly: mirroring has commence between weekly break to weekly break. Left most arrow got hit to dollar by the 3rd arrow, which moves up and hits the second arrow to the dollar on the fourth arrow. Time frame levels respect their same time frame levels if they appear as a test on that time frame to the dollar or within fractions of a percent. There are some other circumstances too but not relevant here.
The weekly chart is forming architecture over a monthly level that is white on this chart, that could cause a break of that weekly level since the time frame higher than it it powering/holding the move upwards
On the daily so micro macro lol: the bottom red dotted line is a breakout point as well since two different color candles (a peak on lower time frames, yes a peak like a mountain) wicked through it but didn’t close accumulation above it. To continue move up price would want to close accumulation over this level today, or if it does close distribution it still needs to be above that dotted line. If not then that cues a dump down to the lower weekly levels probably.
SUMMARY:
Ultimately on the macro is looks like the move is going up since it held that bottom most white dashed line which is a hold level. Hold levels are either the top wick or the body of a candle before a color change. This is because on lower time frames it’s the top of a peak the bottom of a valley or one of those breakout points that can still be respected as support or resistance in the future/opposite of what they were initially required to “breakout” from
Monthly trend as well and lower time frame weekly trend cycling or increasing in angle on the diagonal axis the further you get on the horizontal axis
DITCH THE INDICATORS LEARN C0tt0nc4ndyta science and get moves to the dollar.
Scienceoftrading
Science Backed by Data[Nifty Series]: Nifty target 10355-8thJunHi Friends,
Let's Learn and Earn. Elliot wave mostly if identified correctly helps in discovering important psychological levels.
Nifty Second waveform is in progress and wave 5 looks to be starting on it. Today's Nifty retracement is beautifully mapped on 15min Chart for your consumption.
Time in Bars - Wave - Coordinates - Actual Length of Wave
wave 0 9843.8
44 wave 1 10156.65 312.85
21 wave 2 9958.35 198.3
39 wave 3 10322 363.65
20 wave 4 10161.85 160.15
? wave 5 10474.7 312.85
Wave 5 target has various ways for calculations. Some of the most popular 5 ways to calculate 5th wave of Elliot Wave are used in below table for your reference.
Wave 5 Targets
61.8% of wave1-3 --10264.0
61.8% of wave1 --10355.2 (Golden ratio) We are picking this as Target.
161.8% of wave 4 --10421.0
Equal to Wave 1 --10474.7
123.6% of wave 1 --10548.5
Calculated Time for reaching target is 10:45 AM for 10June20
Now time for some Learning . 3 Most Important rules of Elliot wave are
• Wave 2 can’t retrace more than the beginning of wave 1
• Wave 3 can not be the shortest wave of the three impulse waves, namely wave 1, 3, and 5
• Wave 4 does not overlap with the price territory of wave 1 (Mostly overlooked).
Even if one of the above rule is invalidated, you should not assume wave's to be correct.
Let me know with a like if you enjoyed reading the Analysis. This will encourage me to work harder for you.
ETH Pushing For A Breakout | Double Bottom?ETH/BTC Weekly Chart, wait for retest of .02463 or breakout of long-term channel resistance.
Always do your own research before investing.
DotcomJack
SOT May Chartoff Week 1Celer is currently being compressed between its trends and is near breakout. Its gained fractal valleys and is looking to use the momentum of breaking trend to gain the 1 hour 190 level it has struggled to hold above in order to start attacking its next valley. Im looking for this to be a quick swing trade which is why i dont have any higher time frame levels as they are not relevant.
