#MarsiliosTA
Follow up on S & R levels to show a couple short term examples
Weekly & daily pivots important for trend, and pullbacks to the WP or DP often great buys in uptrend.
But also because entire structure is more clustered, S & R levels a lot more likely to trade.
Follow up on S & R levels to show a couple short term examples
Weekly & daily pivots important for trend, and pullbacks to the WP or DP often great buys in uptrend.
But also because entire structure is more clustered, S & R levels a lot more likely to trade.
BTC 1H chart with
All levels plus weeklies
Fibonacci weeklies in red
DeMark weeklies in orange
No daily levels for clarity
This week near tag of yearly level (YR2 as support), but no other half-year, quarterly or monthly levels in play at all
Action all on weeklies
All levels plus weeklies
Fibonacci weeklies in red
DeMark weeklies in orange
No daily levels for clarity
This week near tag of yearly level (YR2 as support), but no other half-year, quarterly or monthly levels in play at all
Action all on weeklies
Arrows are just showing turns - sometimes chop, it happens
1st brown = fail at WP then down
1st red = Fib S1 low
green = WS1 low of week
2nd brown = WP chop a bit
2nd red = Fib R1 resistance
3rd brown = WP pullback hold
Crypto traders if you are not interested this...
1st brown = fail at WP then down
1st red = Fib S1 low
green = WS1 low of week
2nd brown = WP chop a bit
2nd red = Fib R1 resistance
3rd brown = WP pullback hold
Crypto traders if you are not interested this...
ES
Quiet holiday week, tight range
Same setup
As it so happened, one top very near a monthly R1 (how do I know? because dots extend more than 1 week) and a quarterly level acting as support (same idea)
Highs near DeMark WR1 with poke above but not close above today in orange
Quiet holiday week, tight range
Same setup
As it so happened, one top very near a monthly R1 (how do I know? because dots extend more than 1 week) and a quarterly level acting as support (same idea)
Highs near DeMark WR1 with poke above but not close above today in orange
So, this stuff does work but there are a lot of levels and once we add dailies then there will be levels everywhere, so how to judge?
Some traders use pivots alone
I prefer to combine other tools into system
And for that... come back next installment
unroll @threadreaderapp
Some traders use pivots alone
I prefer to combine other tools into system
And for that... come back next installment
unroll @threadreaderapp
• • •
Missing some Tweet in this thread? You can try to
force a refresh
