USOIL-WTII will look for a possible move up to break that high and finish a correction, then the sell.
TDI
XAG/USD- 4hrNotice the trend line of the small WXY and therefore the structure it is currently in. Please refer to my post of the weekly and daily.
XAG/USDSilver has done 7 swing upon 7 swing. Oversold on weekly. Over extended on Monthly TDI. Already turned up on Daily TDI. There is potential for a very large trade to the upside if it were to do a larger 7 swing on the larger scale. We can get more downside before the LARGE upside move, but we are at a major fibonacci and pattern confluent supply zone. Hard for me to fully explain here what I am looking at, but major level, large potential for upside from this area is all I can really say, I can't explain the different scenarios.
Aud/UsdAU looks like it wants to make a flat pattern and break the high. Keep in mind all the fibonacci lines up right below where it is coming off so it can make one more small move down to the 78% fib.
EURUSD 30M TDI LONG STRATEGYFind TDIGM under indicator search
Step #1: Look for the Read Line to break above the Yellow Line
The yellow line is regarded as being the most important line of the TDI indicator because it binds together all the other parts and it makes the indicator tradable. Traders also refer to the yellow line as the Market Base line.
The yellow line can be used to determine the long-term trend. We need to see an alignment between the long-term trend and the short-term trend in order to successfully scalp the market.
When we have positive expectation coming into the market, the red line must be above the green and the yellow line. That’s the first signal that the buyers are stepping into the market.
Step #2: Wait for the Green Line to also break above the Yellow Line. The Red Line must not break above the upper blue band.
The second required condition for a valid trade signal is to also wait for the green line to break above the yellow line. Once this happens, we have an alignment between the short-term trend and the long-term trend.
When an alignment in the trend direction occurs, that’s when we have those explosive scalping opportunities.
The catch is that we need the red line to be contained inside the blue Bollinger Bands. When the red line breaks the upper blue band, we know the market is stepping on the gas. This means we have an acceleration in volatility and tells us that the buyers are exhausted.
We don’t want that to happen!
Step #3: Buy at the closing candle after the Green Line breaks above the Yellow Line
When the green line crosses above the yellow line, it tells us that the buyers are buying and the fact that we have positive sentiment.
We’re looking to buy in a market with increasing volatility and in a market where both the short-term and the long-term trend align in the same upward direction.
When the price and the market sentiment align, and they are sharing the same sort of expectation, then that’s the best time to enter the market. So, we buy at the closing candle after the green line crosses above the yellow line.
Step #4: Hide your protective Stop Loss below the respective swing low developed as a result of the red line crossing above the green line.
Find on the chart the last time the red line crossed above the green line and located on the price chart the respective swing low developed as a result of this crossover.
Now, use this swing low to hide your protective stop loss.
Step #5: You choose Take profit or when both the red line and the green line crosses above the 70 level
The real reversal signal is given when the green line also joins the red line and touches the 70 level which signals buyer exhaustion again. When this happens, we want to take profits.
The expectation is that when we get up to these levels to start looking for market reversal because the market it can’t go any higher. And this is the perfect place to get out of our scalping trade and take profits.
Note** the above was an example of a BUY trade using the best traders dynamic index strategy. Use the same rules for a SELL trade – but in reverse.
Price action trading on ThetaThis is how you trade price action on an alt coin. We can enter here and watch btc moves closely or wait to see if we break back down into wedge.
XAUUSD bullish.Analysis is on the chart. I'm legit waiting for the dollar to die, and Gold will go up long term.
No Clickbait: Bitcoin Weekly Overview The Weekly and Daily will be closing right around the time this is being published. Some of these charts are messy, but the indicators or trend lines are there for a reason, I am working on simplifying my charts.
Looking for some signs of a bottom & there are a few that are slowly developing.
Weekly (Above)
We are on a red 6 with the T.D. sequential as can be seen on the chart above. The 7 opens right around now. I expect to get a full count to 9 with the 8 being a near perfect close above the 6th candle. (This week that just closed)
The Stochastic is looking for a bottom and it may have found a temporary bottom for now. I expect a move upwards to move it out of oversold conditions but I also expect the move up to not pull us out of the current correction.
The GMMA (Guppy Multiple Moving Average) shown above shows extreme conditions of being oversold. One thing to note, since the correction started this the first time we have seen the faster moving EMA's cross fully below our slower moving EMA's in red.
The OBV (Above) is still higher than week of 3/26 low at $6,443, meaning if we look at the OBV like a sentiment indicator there is heavier buying at these support levels. However the 3 day and 1 day show a different story so I am just simply noting this.
The C.M.F. (Above) shows a tad of positive pressure & doesn't really align with the OBV view that there is heavier buying at these levels. For now I take this as a sign the bottom is close but not in.
Furthering my view that the bottom is not in is the RSI; I would like to see the RSI find a complete bottom before I feel comfortable that this cool down/correction is over.
Conclusion
I am looking for longs to be stacked over this week to further enforce my opinion that this is not the bottom, as this happens I believe we see some bullish moves to the dotted orange line (Chart is below) and potentially the pink line directly above it.
After that I expect a drop to the first range seen in the green and blue box below. From there I am not ruling out that as the bottom as I am seeing some decent signs that are characteristic of a bottom already. However I will approach that decision when we rest there and the market has more data around there.
As for now my outlook still remains the same from past ideas I have published, when the data changes I will adjust my viewpoint. I trade off of what I see, not what I am hoping for. See the idea I published from May 28th titled "Bitcoin Analysis: Weekly Bearish TK Cross & Full Trend Overview" for a cleaner overview of that price range.
Turning on the Heikin Ashi candles below to get a full view of our current trend, I don't believe this is a market who has found its bottom , it is much more reasonable to assume the 78% fib will be our ending point. Also note: We sit at the top of the Kumo on the weekly.
Anything below $4,000 I think we see some serious shifts in the market that are indicative of major manipulation. So far this entire correction seems natural in structure. I do believe it is possible to find a bottom before we ever dip below $5,000, but as of now this is what I see.
I am doing a live seminar the 26th that can be watched in person in Florida or online, if you would like details on that please check the pinned tweet on my twitter or message me for details.
Thank you for reading and please support by clicking like on this analysis. Like, follow, share and interact to help me stay motivated to keep these trending. Thank You!
5] How to use Traders Dynamic Index and Complementary OverlayCOMBINING MULTIPLE TUTORIALS
Price/HighMBL crash, overbought TDI:RSIPL indication = MUST SELL with use of lower time frames.
Trading a retracement (into HighMidline) is not really recommended, your'e not trading a reversal so its highly risky to countertrend trade against the main trend.
Price under HighMidline, with 'TDI overbought indication = MUST SELL with proper setup. Use of Flat Bottom, disjoint angle, or parallel channel are very useful when used with the separated 'TDI Pro indicator window.
60 Min chart BEST SELL ENTRY ZONE corresponds to price nearest of 240 HighMidline and especially of 'TDI indication of overbought condition. In this time period preparation of best sell entry is crucial for evasion of being stopped out and best to enter by RSIPL above 68 as BEST SELL POINT.
XtremePhaser trending down helps to determine the Take Profit area to look into (1] How to use Traders Dynamic Index and Complementary Overlay). As also was shown in the chart as target (2] How to use Traders Dynamic Index and Complementary Overlay). Midlines (Black & Gray lines) however are mainly for identifying the current trend as this published idea explains. Other 'TDI overlay component lines (MBLs, TSLs), and Phasers are only for reversal breakouts, if you know what I mean, and can be used to observe support/resistance.
GBP/USDGU is seeming to make a buy setup but it is in what appears to be a corrective flag. Trading it here can be difficult considering corrective structure. I guess my main point is, if you see it do that pattern to that level, a sell entry is more than in order. Once it completes a pattern as such, you look for 50-61.8 % retrace if it will be a leading diagonal in order to continue up, but if it completes a combo pattern just like that, then it will probably be going for the low, at least. But I guess my main point is regardless of what it does if you understand the concept, you can successfully trade it no matter what. I am uploading a video on DXY on my you tube, suggest you take a peak if you are trading it.
Tom Demark Sequential - T.D. Sequential Tom Demark Sequential - T.D. Sequential
For the sake of not overloading you, I will cover the basics of the T.D. setup and a more advanced understanding of the T.D. countdown at a later time. This is very basic level understanding of the Tom Demark Sequential, once I have the second portion finished in a few days I will do another to cover trading strategies with the T.D.
1. Introduction
2. Terminology
3. Example
4. Conclusion
1. Introduction
The Tom Demark sequential is a great tool used by many traders. However, it is a complex indicator to trade with that uses simple calculations. The T.D. is an exhaustion cycle indicator that identifies trend reversal using exhaustion points numbered 1-9 with 9 being the potential exhaustion point and reversal of a trend.
The Tom Demark Sequential consists of two components. T.D. Setup is the first one and it is a prerequisite for the T.D. Countdown – the second component.
T.D. Setup compares the current close with the corresponding close four bars earlier. There must be nine consecutive closes higher/lower than the close four bars earlier.
The Tom Demark Sequential can be found in TradingView by searching within indicators like so:
imgur.com
2. Terminology
Bearish Price Flip - occurs when the market records a Close greater than the Close four bars earlier, immediately followed by a Close less than the Close four bars earlier.
Bullish Price Flip - occurs when the market records a Close less than the Close four bars before, immediately followed by a Close greater than the close four bars earlier.
T.D. Buy Setup - bearish price flip, which indicates a switch from positive to negative momentum.
- After a bearish price flip, there must be nine consecutive closes, each one less than the corresponding close four bars earlier.
- Cancellation - If at any point, a bar closes higher than the close four bars earlier the setup is canceled and we are waiting for another price flip
- Setup perfection – the low of bars 8 or 9 should be lower than the low of bar 6 and bar 7 (if not satisfied, expect new low/retest of the low).
T.D. Sell Setup - prerequisite is a bullish price flip, which indicates a switch from negative to positive momentum.
- After a bullish price flip, there must be nine consecutive closes, each one higher than the corresponding close four bars earlier.
- Cancellation - If at any point a bar closes lower than the Close four bars earlier, the setup is canceled and we are waiting for another price flip
- Setup perfection – the high of bars 8 or 9 should be greater than the high of bar 6 and bar 7 (if not satisfied, expect new high/retest of the high).
3. Example
The chart above is Bitcoin on a 6 hour time frame with Heikin-Ashi candles (I will explain why in a later post). The T.D. is far more accurate on higher time frames. It can be used on lower time frames for entry and exits. However, I have found that precise entry and exit targets are best found with other indicators. I typically see the most accuracy with the T.D. on a 4 hour time frame or higher.
Noted on the chart is several Buy/Sell setups in addition to failed setups. The reason I am using such a poor example of the T.D. is I want to impress upon you the dangers of using only one indicator when making decisions. Not every indicator is 100% accurate. As good and intelligent practice, you should always use the T.D. with additional data.
New Bitcoin Wedge breakout, BTC target $9,700Wedge breakout, target price $9,700
Support zones at $9,100 and $9,200
Current situation we will see is a pullback and due to wedge breakout should rise to $9,700 but we can expect resistance from thin blue line 'HighPhaser', which is the MarketBaseLine overlay of the a third chart (60 min).
So we can expect some ranging with dated high to supports stated or breakout out of the HighPhaser.
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The use of 'TDI' Pro's Analytic Tool is meant not for blind trade entry, rather a technical guide of set rules which an expert on the use of Traders Dynamic Index can use it complementary as an alert of technical probability.
His/her expertise on the use of Traders Dynamic Index would allow to stay in the trade for longer than when the tool says 'close trade'.The trader can use the signal 'close trade' as an entry if so expected by trader's complete analysis. Also it's programmed to say close rather than sell due to possible false sell signal on generic system trading script coding which now would increase capital most favorably.
Eur/UsdEU has made a basic W-X-Y structure that measures out fib wise all the way through. This pattern can extend down to the 1.618 extension, but I don't think it will. When I adjust my pitchfork fib lines to best fit support and resistance price is holding. I could see a wick down to that support level at the 1.382 if there is a news spike, but it looks like on the 1hr that it produced a small ending diagonal (expanding triangle) and the 4 hr looks like it made a small flag. But we all know looks can be deceiving right now with the lack of people willing to risk their money in a crazy market. I posted AU, and NU, my long term analysis. It has not changed. If you look at those posts you see the confluence between the dollar pairs. They are way over extended, but it is more about the patterns they are in. I'm looking for EU to work up to that yellow trend line possibly creating a larger combo pattern or flat. But take a look at the chart, this is the daily, and see what price does when it reverses for a large move... Usually takes days to weeks. But the 1-1.236 extension is what you would expect with this pattern.
1] How to use Traders Dynamic Index and Complementary OverlayTraders Dynamic Index serves for crossover signals and are essential for trade entries and most beneficial when identified on over 30-minute Time Frames as on hourly time frames.
I have made the options available of the oversold (green) 32 level line overlay which is useful in identifying potential buy zones/price.
In KK_Traders Dynamic Index_Bar Highlighting it is also good to note that in uptrends : RSI ranges between Upper Volatility Band, Lower Volatility Band and/or relatively "within" 68 and 50 level lines as it has been doing on hourly time frames on Bitcoin.
Direction and deviation of MBL overlay or Phaser from price is strong indicator of trend direction and price level/zone useful for those who are confused in knowing where price will have to average into.
Promoting free and highly useful Indicators:
KK_Traders Dynamic Index_Bar Highlighting
Traders Dynamic Index Overlay
"Price Action Channel Master by JustUncleL Restored"
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I had not used these guides recently which I have currently published.
If anything (I ever do publish) varies contrary to these indicated guides and the coming guides to be published, the likelihood of failed forecast is augmented.
How to Trade with Traders Dynamic Indexwith the Help of Traders Dynamic Index
Follow on Screen Instructions ;)
Eur/Jpy possible buy setupAll then yen pairs turned from buys into nice sell setups this past week. I held this EJ buy for a while and finally closed my last position wed or thurs. I do see it as being in a downtrend, but I am looking at this as a wave 2 retracement and if that is the case I would expect more up. It had some tight candlestick action as it worked down and closed the week at a pitchfork. I pointed out a possible buy setup coming on EG but we need confirmation on these. No reason they can't keep extending down, but I would not be surprised to see one more up, but that is merely speculation and you need price action to confirm. The way those candlesticks are looking to me on 1-4hr makes me think we may get one more up on EJ
GBP/CHF sell updateThis is the idea on Gchf. I just want to point out the amount of divergence coming in on the 4hr. Check out the 1hr. I believe it came down from top in a leading diagonal indicating further downside. I think it will either drop from here or make a small wave 4 and go up to .618. This is about a huge swing and trying to catch an entry on wave 3 that I can hold. It made a small ending diagonal on 1 hr and went sideways, pending breakout at trend line. It could be on wave 3 of the smaller 5 wave, but may have been 5. Keep in mind, I have explained this pair many times on my weekly outlooks and such, I suggest you follow the videos on my link if you trade with me. This was a long corrective pattern which finished with a huge ending diagonal and double top. I am definitely looking for more downside and if it was to drop from right here, the 1.618 fib extension takes you straight down to the 1.22600 level at the major supply zone. Also keep in mind I understand more modern forms of wave theory and that the market does not always follow a basic elliot type count, but that is how I see this within this smaller structure. That would make this an expanded flat as of now. Also keep in mind this is a Chiffy pair and may test your patience and risk management skills, plus this A-B-C can just be part of a more complex "B" wave, possibly pushing up to even the .786, but definitely needing at least one more push down even if only corrective, in my opinion, however this pair has the potential to even fall out the bottom and break the low of structure being a wave 5 down on weekly.... eh, out of breathe.
EUR/JPY buy may be readysmaller ending diagonal at end of larger one of bottom of supply zone. At least an opportunity for tight entry small risk.
EURUSD SHORTS EurUsd has hit 61.8 weekly fib as well as daily trend lines, have entries from the very top of daily rejection with last target area @ 1.20
keep eye on Dxy as it may be on a bullish run this following week. let the pips keep coming
CAD/CHF buyCadchf produced a bullish gartley on daily and also a classic bat on 4hr. As to whether this will wind up being a very big trade, I can't say as of now. Cadjpy broke low, but when I look at chfjpy (which I have previously pointed out the downside) my choice would be cadchf. I believe it will either form a corrective flat or triangle to go down more, but could potentially be a much larger trade long term. If we have an ABC correction here on daily that would mean a lot of pips when it is ready. Keep in mind it may consolidate down more, didn't properly produce a diagonal yet, but if that happens, even better entry and confirmation. I will try to get a weekly outlook by tonight. I am small and will be monitoring this pair for potential setups. This pair is VERY choppy ans slow mind you...
