Confluence is a term used when multiple factors and strategies form around a trading idea.
For example; price action that moves to a strong Fibonacci level, and also happens to be an area of daily support, has found confluence for a potential long position.
While the above example is very brief for the sake of not overwhelming our beginners, there are so many factors that will contribute towards confluence on a chart.
The more you have, the greater probability you will have in your trade setup.
Time Stamps
2:28 – Previous ICX COTW (DO NOT TRADE THIS)
- It is important to know the coin you are trading
- ICX likes to front-run 0.618 (it did by one sat this time)
- ICX likes to double top and double bottom
14:22 – BTC POTENTIAL BOTTOM IN
- You have to build a very strong case when want to accumulate a very big position
- Daniel builds bull and bear scenario and goes with the higher probabilities (He said in this video that price will likely push to at least another LH on macro – 10.000)
23:50 – HOW THE 2019 350% RISE STARTED
24:28 – BULLISH BTC PATTERNS IN PLAY
- Bump and run + iH&S
- CC
- CC within CC
- 2018 Monthly support bounce
- WYCKOFF accumulation
- Long term trend line support (log)
- Gartley harmonic wave trade
- S. when you go from 0.618 to 0.618 you HAVE TO think of Gartley
- Fib channel support
- Bullish 3 drives pattern
- Fibonacci speed fan support
- Gann fan support
- Pitchfork support
- Fibonacci time pivot
- 2017 to now POC
1:03:10 – Q&A
- Daniel’s statistics from June to December 2019
- 83% of the time if the high that was formed on the chart is not directly followed by a 4H bearish engulfing candle that takes lows it is very likely that the price at least SFP the high