ALGO: Appears to be Working on Simple Rally in Phase B
Hi Everyone! This is a potential Simple Rally event in Phase B of a Wyckoff Method 2.0 Accumulation Schematic we could be working on for ALGO.
Near Term Group of time frames with focus on PARXCES indicator:
Short Term Group of time frames with focus on PARXCES indicator:
Near Term Group of time frames with focus on PARXCES indicator:
Short Term Group of time frames with focus on PARXCES indicator:
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UPDATE:
Made a simple correction; moving the Aqua Vertical Time Line over to the left one click; which divides Phase A from Phase B.
Made a simple correction; moving the Aqua Vertical Time Line over to the left one click; which divides Phase A from Phase B.
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UPDATE:
When this long trade was opened, the HIGHEST time frame with Red Line "above" white level 70 was the 2-hour time frame. Now, the highest time frame with Red Line above white level 70 is the 8-hour.
Why am I mentioning the highest time frame with Red Line above white level 70? It's that time frame we will use to "close" a long position. What conditions must be met to close the long position in the highest time frame Regarding our Red Line? Well, it depends on the indicator you are using.
My PARXCES indicator would require "both" the Green Line and Yellow Energy falling and "both" below level 50 while falling. Phoenix Ascending indicator would require the Green Line falling and less than level 80 while falling - AND - the White Energy falling and less than level 50 while falling at the same time.
NOTE: The 8-hour is the highest time frame in which the Red Line is higher than level 70 for ALGO.
When this long trade was opened, the HIGHEST time frame with Red Line "above" white level 70 was the 2-hour time frame. Now, the highest time frame with Red Line above white level 70 is the 8-hour.
Why am I mentioning the highest time frame with Red Line above white level 70? It's that time frame we will use to "close" a long position. What conditions must be met to close the long position in the highest time frame Regarding our Red Line? Well, it depends on the indicator you are using.
My PARXCES indicator would require "both" the Green Line and Yellow Energy falling and "both" below level 50 while falling. Phoenix Ascending indicator would require the Green Line falling and less than level 80 while falling - AND - the White Energy falling and less than level 50 while falling at the same time.
NOTE: The 8-hour is the highest time frame in which the Red Line is higher than level 70 for ALGO.
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UPDATE:
We get a "new" 24-hour candle in approximately 1-hour and 40 minutes. I anticipate the Red Line in the 24-hour to rise above White Level 70 the "next" 24-hour candle for both PARXCES indicator and Phoenix Ascending indicator. Which means we would begin to use the 24-hour candle for "closing" instead of the 8-hour.
We get a "new" 24-hour candle in approximately 1-hour and 40 minutes. I anticipate the Red Line in the 24-hour to rise above White Level 70 the "next" 24-hour candle for both PARXCES indicator and Phoenix Ascending indicator. Which means we would begin to use the 24-hour candle for "closing" instead of the 8-hour.
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UPDATE:
PARXCES is a proprietary indicator not available to the public. However, Phoenix Ascending is a free indicator made available to the public. The "inputs" for Phoenix Ascending in my charts is setup as follows:
Phx Master = 9
Phx Time 1 = 6
Phx Time 2 = 2
LMSA 1 = 25
LMSA 1 = 0 offset
PARXCES is a proprietary indicator not available to the public. However, Phoenix Ascending is a free indicator made available to the public. The "inputs" for Phoenix Ascending in my charts is setup as follows:
Phx Master = 9
Phx Time 1 = 6
Phx Time 2 = 2
LMSA 1 = 25
LMSA 1 = 0 offset
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UPDATE:
Take Profit Targets:
Take Profit Targets:
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UPDATE:
ALGO Swing Long HAS BEEN CLOSED to be on safe side.
ALGO Swing Long HAS BEEN CLOSED to be on safe side.
Pulled Back View: