patburns7791

ETH Weekly: Giant Re-Accumulation?! I believe I could make a very compelling case for the weekly chart on ETH becoming one big giant Wyckoff Re-Accumulation schematic. Before we begin, please take a minute to look at the Re-Accumulation schematic in the bottom left corner of this picture: https://img.phemex.com/wp-content/uploads/2021/11/26075601/Wyckoff-schematics.jpg With that fresh in your mind, let's get back to the charts. It looks like back when we went and took out the ATH (just barely) in November of '21, it was actually serving a very important purpose. That was our UTAD before the subsequent bear market & giant dump back down to take out the lows of the AR & SOW. Once we took out those lows, we put in one low and then a higher low followed, which now serves as our Spring and Test right before a big jump across the creek. Currently on our indicators, the 3 day is showing a giant hidden bullish divergence. Last time we printed a trigger wave on the 3 day, it caused Wave 3 (AKA the run-up from 1385 to 2146, see related ideas) and with this trigger wave coming in lower, while price is making a higher low, it forms a very strong hidden bullish divergence signaling massive uptrend continuation is on the horizon. This would fall perfectly in line with our big "Jump Across the Creek" in the Re-Accumulation schematic, as well as our Elliott Wave 5 from my previous post (link below). As of right now, our Wave 4 did exactly as it was supposed to by not retracing past the zone in between the 0.382 and 0.5, which should mean that Wave 5 is incoming. Targets for this idea start at the macro GP from ATH around 2560 and increase from there according to your risk tolerance and profit taking strategy. Personally I will only be taking partials and plan to let this trade run as far as it's willing to run, with my stop loss at my entry. What are your thoughts?

The Range Gives You Gains Have you ever heard of "the trend is your friend?" I got a new one for you - The Range Gives You Gains 70% of the time in any given market, price will be in a sideways range doing nothing. People seem to think they can only make money when the market goes up or down, effectively confining themselves to only trading 30% of the time. Learn how to trade a range, it will change your life. Mark out your Value Area High & Low, as well as your POC. When price comes down to one of these levels, you check your low time frame indicators and look for divergences or other signs of a reversal. It's really one of the simplest ways to make money in any market, yet it's so overlooked & underrated. Just like the trend, you trade the range until proven otherwise. Follow me for more trading tips - today's was a very simple fundamental tip, but I post more advanced tips ranging from Wyckoff to Elliott Waves and everything in between. Hope you have a great day and make a bunch of money inside of this range!

Quick Question for the EW Veterans Out There I'm relatively new to EW, I'm more of a SMC/Wyckoff kinda guy, however I'm noticing something here that's slightly concerning. In previous bear markets, we've never really seen a 5 wave impulse to the downside, they've always been ABC corrections. This is the first bear market where I can clearly see a 5 wave impulse, and it looks like the ABC correction was to the upside this time. Could the next impulsive move possibly be down? Even with the halving quickly approaching? What are your thoughts?