Hi Everyone! Simply wanted to EMPHASIZE we are still seeing TREMENDOUS upward pressure in the Weekly and 9-Day Time Frames likely to continue AT LEAST to the 9-Day Candle beginning November 11, 2020. If the White Energy manages to hit level 50, we should not see a long period of downward pressure. Any downward pressure occurring at the point should only be for a brief period of time (Likely no more than a week; possibly no more than four days). We might see a BRIEF pullback once we hit my major FIB at mid 14K level. This was a focus on Near to Mid Term Analysis; NOT short term or very short term. So, if you are considering using this TA to open a LONG position, you may want to wait and see what occurs with the White Energy in the 2-Day time frame.
Comentarios
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UPDATE:
Hi followers,
You may notice your Phoenix 1.119 has changed to Phoenix Ascending 2.121. I just updated that script (indicator).
What's New? Updated from Version 2 pine script to Version 4 pine script to avoid possible issues in the future.
Removed "Multi-Exchange" from "Inputs" within "Settings" to avoid potential issues in the future if certain exchanges were to close or shutdown.
Adjusted a few "Default" line thicknesses to place more emphasis on level 20, level 50 and level 80 with thicker "default" lines. Of course, you can edit the thickness and colors of these lines in "Style" under "Settings."
It's possible you may see your current "saved" presets as your own default will be erased after I updated this script. Sorry, for the inconvenience of having to re-adjust them. It's better we do it this way than to invite everyone to a totally new script (indicator).
It's POSSIBLE you may have to refresh your browser to see the indicator work properly again.
I'm going on my 3 mile walk with my wife and son. I'll give an update within an hour of my return. The walk will take us about 45 minutes. We will head out in about 15 minutes.
Hi, David. I was working myself with a target of around 15K, based on several weekly technical projections out of congestion areas, and also based on the assumption there might be more short coverings as we take the 2019 highs. This converges with your previous analysis of minimum targets around 15K-16K, before a meaningful pullback. I also think once we're on the right side of market direction it's important not to "drop the guns" too early as you say, and wait instead for meaningful pullbacks and reversals which usually come with signs of trend exhaustion in higher time frames. Nonetheless your "bang" scenario of long margin liquidations could also take place, to my mind, especially if we see further weakness in the stock markets in the short term. That said, it's quite refreshing to see someone around here with a focus on the bigger picture. I also like to use Bollinger Bands to check cycles of volatility contraction and expansion. Just out interest, aside from the RSI different lines, what is the "white energy" from the lower pane indicator? Is it some sort of momentum oscillator? Best regards.
It's still POSSIBLE to test ATH by year end as well. However, I'm not going to make a declaration we are going to see a test of ATH just yet. I want to see where our White Energy is located in the 9-Day time frame on November 11, 2020. I will also want to see where the White Energy is located in the 2-Week time frame on November 11, 2020.
Yes, the White Energy is a type of "momentum" oscillator. However, it must NEVER be used WITHOUT the Green Line and Red RSI. All three should be combined if we are to have a better extrapolation process with the indicators.
Stay Awesome!
David
DaBulls182
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Thanks for another great update David. We really appreciate it. what's your thoughts on all the alts? I'm beginning to think the end of the year might be allot like 16 where they move sideways while btc moves up.
The following is the OLD way I would setup my charts... Be sure to continue further down to see the NEW way after looking at the old way.
Refresh your browser FIRST for the indicators in your “Invite-Only Scripts” to load properly when you follow directions in the setup video. THEN watch the following video for “SETUP.”
“Setup Phoenix 1.119 Script With Phoenix Ari & Stochastic RSI.”
HERE IS THE NEW WAY: You will understand how to setup the NEW way if you watched the video for the OLD way. In my NEW way, I either "show" or "hide" my Stochastic RSI and Phoenix Ari according to my preference at any given time.
REFRESH your browser before doing anything.
THEN go to indicators
THEN "Invite-Only Scripts"
THEN click Phoenix 1.119 (It will take a moment to pop up on the screen.
THEN click indicators
THEN click "Invite-Only Scripts"
THEN click "Bollinger Bands"
Adjust the colors on both indicators how you want them in settings for each indicator and your done.
If you need help figuring out how to get to "Invite-Only Scripts," watch this video you are commenting in or watch my SETUP video for Phoenix 1.119 - BTCUSD WITH 44% AND 56% LEVELS ADDED.
You will find the "Setup" video in the description of the Phoenix 1.119 script.
Here's a visual of my NEW way of setup:
Midbell
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@WyckoffMode, wow i didnt see this. awesome, thank you! I'll watch the videos now
mdtitonali1450
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Greet work.thank you for Sharing this wonderful information. It really helps me as a beginer keep going stay awesome.