I have to say this right out of the gate: you shouldn't expect others to freely divulge their cherished secret. They spent inordinate amount of time (as well as money) to learn their craft. So if they give you what looks like a bunch of crumbs, don't get offended too fast. It's probably much more than what it first appears. Take it one or two steps further and see if you can make sense out of those crumbs yourself.
We should move this discussion to another thread, we're hijacking mutes thread. My point is with EW is you can't put the waves in until price has moved. You don't know if a wave is complete until another wave forms. You can make assumptions but are they any better than a guess?
I was thinking the same thing. This is a typical 7 swing (extended) correction. My favorite kind to trade. I fill out the entire correction first and adjust accordingly. All of these levels can be set by Fibonacci or measured moves, but I usually just eyeball it until it matters. This highlights why support/resistance traders fail because they would draw a line across A, but price would blow right through it on the way to WY. Currently bitcoin is approaching (or reached) X. Now I come in with the fibs. If it drops below the .5 level then I am pretty certain it is starting a double correction. If you look at the subwaves, it could still leg up to 5 (X) which is what I think it will do. BTW this is all on the daily...ideally it should be on the 30m chart or something at this point, but it doesn't really matter to me as I'm not looking for an entry here anyway.
Yea i have no idea whats happening now. Just here to gather crumbs of info Thats all you get for free
Why do i keep buying at the wrong time? -Because there is no right time to buy something. Everything is relative. No matter how low the price that you bought it at, there is always a price that's going to be lower. What you need to focus on is the future trend, where is the price going in the future in terms of your timeframe. As long as the price is ending up higher than you have bought it now in the future, you are fine.
Hi mute, The chart you attached appears to be a Heikin Ashi candle chart, which has characteristics of having added a trend indicator to the chart since it colors the candles to emphasize short term trends. I can see that is has value, but my concern with this approach is that the candles don't actually represent true closing prices because of the formula that is used. Regarding your question, my main strategy would have labeled the bullish hammer marked with an arrow as a signal to go long. It's a good buy signal in an uptrend, even if it didn't ultimately continue upward very far...
We all sometimes make bad trades. Have a checklist to go through before you put on a trade, it will slow you down and remind you of what to look for. I’ve put few notes on your chart about how I would see it from a PA perspective. (forgive my typos)