Line charts not only provide a cleaner version of what your are trading, but a different perspective.
The chart above displays my take on ETHUSD using the 1 hour line chart which is one of my favorites. While comparing this to the candlestick chart, you will see that this provides a much cleaner and maybe even clearer analysis of what the market is doing. The chart below displays both trendline created from both so that you can see the additional noise created by the wicks. Taking a closer look at the published chart above, you may notice a pattern of ETHUSD hitting intersection points of trendlines created on the hourly timeframe. IF ETHUSD would continue to do so, we could possibly get a pattern similar to the one charted above with the red arrows.
I created this pattern by assuming that we may create an ABCD correction in conjunction with:
BTC sitting on one of my major support lines
My Volume Extension PRO indicator has been giving multiple buy signals between 234 & 243 with no substantial pullback
A major intersection is coming up
We have yet to create a Lower Low
ABCD patterns are extremely common in corrective waves
ETHBTC looks extremely bullish
Thank you all for reading & I wish you the best of luck! cheers!
Kommentera
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Hit the intersection of absolute precision . Now let’s see if we can get a cross