Understanding Multiple Time Frame Analysis with META

If you went through a couple of Mustermanns and my Educational Ideas or have general knowledge of Harmonic Patterns & Formations, this idea is for you. You'll get a better understanding of how the patterns are connected and how you can use them in combination with Multiple Time Frame Analysis to create a bias/opinion of where price could go.

Firstly, it's important to understand that, when looking at a chart, you don't necessarily have to come to a conclusion of where price should go and take a trade based off of that. Sometimes you'll find charts where you have no idea, price might miss the needed volume to create actual patterns to base your idea on, have unclean price action (many would argue that to be true in the Gold chart), or create unwanted spikes that could take you out (like small caps or smaller crypto projects).

Feel free to first think of an analysis on your own, and then go to the next screenshot to train your eye to see patterns on the naked chart. 

Firstly, here's a Cup & Handle Pattern. For more formations, you can take a look here.

For the target determination, we'll take the full height of the formation and add it on top of the breakout. That way, we get a target of around $618.

Now, since the cup is not THE cleanest Cub, we could also use the move upwards as a flag. Also, not the cleanest, but still worth considering in the context of the other things we'll look at.

It's important to note that the way you can draw the flag can variate depending on how the formation actually forms. Maybe you would only look at the flag pole from the low to the left of the low of the cup, for example. This would put the target slightly below the target of the Cup & Handle pattern. For this example however, we'll stick with the low of the Cup & Handle.

To not get too distracted, we'll take the measurement tools off. Btw, the Layers Tool is amazing to keep your charts organized. I'd strongly recommend using it. Especially if you're a Daytrading or Scalper, the chart can get messed up pretty quickly in the higher TFs.

Let's step back from the formations for a second and look at the Harmonics and the Hourly Chart. Maybe you've already seen the Black Swan prior, but for those who haven't, here it is. It's basically in the first half of the Cup and doesn't have its Rebound 1.618 touched yet. 

Again, take a look at this chart and look for patterns you already know and what they say about past price movements and potential future ones.

As you might see, there is a lot of Buyside Liquidity above those highs right below it, which makes this level very likely to be touched.  

There's also a Navarro200, which has a likeliness to go to the 1.618 Rebound, but the 1.27 Rebound is located slightly below the Cup & Handle Target. In a case like this I'd be very careful with my stop, place it not too far away and take another Partial at the first Rebound and only let that last small partial ride to the 1.618 Rebound for Risk Management Purposes.

If you look closely, you'll also see that the 0.13 Fib level was returned to after reaching Target 1 (0.382 Fib level) which is a phenomenon that sometimes occurs after reaching Target 1 or even 2 and can be a great opportunity to still get into the trade or reenter it after being stopped out or taking partials.

Before looking at the next screenshot, you can look for the subordinate pattern and figure out how it's related to the Navarro.

If you look at the moves A-B & B-C you'll also notice a Shark which has its Rebounds at the Pattern Point D of the Navarro200. This is called a subordinate pattern, whose Rebounds can be used to better expect a price reversal of the pattern point D in the bigger TF (superordinate pattern).

And lastly, there's a Wolf with the trigger at pattern point D of the Navarro200 and the Rebound 1.27 of the Shark. 

Go through your charts and look for those kinds of patterns, try to put them together, piece by piece and soon you'll have a much better understanding of how markets move and when to expect price reversals.

Here's the chart if you want to copy it to your workspace: https://takeprofit.com/chart/01JE75QHVQJFQAQRQRD87JNKFG

If you're interested in a specific chart, let me know :)

Feel free to comment down below how much you saw yourself :)