What you may not realize…

I wrote a post a while ago about Dow Theory and how it fits into most modern technical analysis .

Click on each link to get the in depth content from the posts

When looking at a trend, cycle or major market move. The best place to start is from the biggest time frame available. This giving an overall bias for the overall trend, some people will refer to this as the monthly, super cycle, major trend. It basically means as large as you want. This can be based on your trading style, no point trying to obtain a bias on a minute chart.

For me I like the bias based on monthly Elliott wave moves;

Again click the image for the full post, at the bottom of this post in related ideas there is also basic level 2 Elliott .

Once you have the bias we can work out exactly where we are, like one of those street maps in a city.

We can use Fibonacci levels to drill down into potential areas of interest and targets for both the extensions and retracements.

Here is another article posted recently as an intro to Fibonacci;

Once you can identify potential areas of interest, you can drill down again into more advanced techniques such as Wyckoff.

In Wyckoff terms – I wrote a couple of articles and recorded several streams on the logic for the BTC call at the top in the middle of February, before the “Rocket post in March” all based on the info mentioned above here.

In this post, I covered the basics of Wyckoff and it’s simple logic

Before going into the types of schematics here below;

The Wyckoff schematics is a little more advanced than the other techniques here, but when you know where you are in the cycle, they become a lot easier to identify.

In the “related ideas” section I covered a chronology of education, covering other topics like buying the dips, MACD , Trendlines and Moving Averages.

I hope this post gets you thinking about how it all fits and works together.

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.