btc usd weekly / monthly retest done,
Updated
We have just completed a proper re-test of the downtrend on the weekly and monthly charts the Connors RSI was warning of this way before it happened if you want to use the MACD properly you need to use multiple timeframes you cannot rely of one time frame combined this with the Connors RSI and Fibonacci levels, along with your up and down trend lines,
I’ve noticed a few people seem to forget that up and down trend lines can be broken without upsetting the overall market bear or a bull
In order for this to happen normally the market moves past the point on where a break would signal a ball run once it’s done this breaking down trendline is acceptable you’re now looking at a higher timeframe with support and resistance levels Fibonacci to get what’s going on
Once again do not get stuck on one time frame you need to see what’s developing through the market.
The best indicator that’s been really showing when we were gonna get those pumps and dumps during this move was the ten-week ema
Blue line on my chart using the MA ribbon most of our moves in the lower timeframes were shown out in regards to the 20 day SMA and that 10 week ema On the higher timeframes you’ll notice that the blue line the ten-week ema has started to curve.
Another tip I’d recommend is don’t get caught up too much with the MACD in regards to its red and green candles you can gain a lot if you zoom right in and have a look at the angle of the tips of the lines in regards to what is going to happen once again scroll two time periods back and two time periods forward do this a few times till you see the pattern.
Most of this will not work if you are under the 15 minute timeline you’ll get lots of fake outs misdirection and your emotion will get in the way
That’s not to say under the 15 minute time frame doesn’t have it’s advantages it’s a great practice area for drawing out your patterns and looking for chart patterns historically but not all those patterns are going to play out with their break now due to it being on a lower time frame the volatility will cause problems and without zooming out you may not know where the cliff edge is.
For those who are interested in learning - my bag of indicators that work for me personally is the Connors RSI MACD Fibonacci retracement or extension and the MA ribbon with the 50 day sma change to 10 week ema and I want to advise people that grabbing one indicator of another trader and adding it to your setup may not help you each trader has their bag of tricks that works well for them together in the way they read the market, do you want to understand the person you’re getting your advice off and how they work those indicators together to create their chart TA.
I’m starting to change the way I engage and I’m more likely now divide you knowledge rather than targets.
And I can’t stress more about blindly following people.
If you’re a beginner and you’re looking for knowledge for your own benefit do not try to get it from the TradingView chat room it is the worst place there are some diamonds in the rough there you guys know who you are and they will do their best with knowledge for you to decipher.
I hope this helps I’m trying to be more informative however until I have voice dictation set up on the actual computer my ability to engage and go back-and-forth on proper information is going to be limited this will change in about a week or so till then play safe people risk management YOLO is a no You’re ever concerned about the market you heage your positions in regards to your risk assessment.
I’ll start covering market dynamics and the social side of it psychological side of it down the track.
And for those who weren’t here for the 2018 winter beware fake news from so-called insiders the Amazon scam still trying to run and posting releases and complaining that their last release was taken down there the guys who did all the buying and I’ve just made a fortune at your expense. And if they’ve got anything left from that once they think the gigs up they’ll pull the rug.
This happened in 2018 about the same time same point in the market with another scam just like this.
Double triple check your sources do not madly re-post information as you are supporting their cause.
Play safe everybody best of luck
DragontecX
I’ve noticed a few people seem to forget that up and down trend lines can be broken without upsetting the overall market bear or a bull
In order for this to happen normally the market moves past the point on where a break would signal a ball run once it’s done this breaking down trendline is acceptable you’re now looking at a higher timeframe with support and resistance levels Fibonacci to get what’s going on
Once again do not get stuck on one time frame you need to see what’s developing through the market.
The best indicator that’s been really showing when we were gonna get those pumps and dumps during this move was the ten-week ema
Blue line on my chart using the MA ribbon most of our moves in the lower timeframes were shown out in regards to the 20 day SMA and that 10 week ema On the higher timeframes you’ll notice that the blue line the ten-week ema has started to curve.
Another tip I’d recommend is don’t get caught up too much with the MACD in regards to its red and green candles you can gain a lot if you zoom right in and have a look at the angle of the tips of the lines in regards to what is going to happen once again scroll two time periods back and two time periods forward do this a few times till you see the pattern.
Most of this will not work if you are under the 15 minute timeline you’ll get lots of fake outs misdirection and your emotion will get in the way
That’s not to say under the 15 minute time frame doesn’t have it’s advantages it’s a great practice area for drawing out your patterns and looking for chart patterns historically but not all those patterns are going to play out with their break now due to it being on a lower time frame the volatility will cause problems and without zooming out you may not know where the cliff edge is.
For those who are interested in learning - my bag of indicators that work for me personally is the Connors RSI MACD Fibonacci retracement or extension and the MA ribbon with the 50 day sma change to 10 week ema and I want to advise people that grabbing one indicator of another trader and adding it to your setup may not help you each trader has their bag of tricks that works well for them together in the way they read the market, do you want to understand the person you’re getting your advice off and how they work those indicators together to create their chart TA.
I’m starting to change the way I engage and I’m more likely now divide you knowledge rather than targets.
And I can’t stress more about blindly following people.
If you’re a beginner and you’re looking for knowledge for your own benefit do not try to get it from the TradingView chat room it is the worst place there are some diamonds in the rough there you guys know who you are and they will do their best with knowledge for you to decipher.
I hope this helps I’m trying to be more informative however until I have voice dictation set up on the actual computer my ability to engage and go back-and-forth on proper information is going to be limited this will change in about a week or so till then play safe people risk management YOLO is a no You’re ever concerned about the market you heage your positions in regards to your risk assessment.
I’ll start covering market dynamics and the social side of it psychological side of it down the track.
And for those who weren’t here for the 2018 winter beware fake news from so-called insiders the Amazon scam still trying to run and posting releases and complaining that their last release was taken down there the guys who did all the buying and I’ve just made a fortune at your expense. And if they’ve got anything left from that once they think the gigs up they’ll pull the rug.
This happened in 2018 about the same time same point in the market with another scam just like this.
Double triple check your sources do not madly re-post information as you are supporting their cause.
Play safe everybody best of luck
DragontecX
Note
ok more typos " guys who did all the buying and THAY just made a fortune at your expense.""
"I’m more likely now provided you knowledge"
the fix above
Note
o and do not set trades of my blue drawing its rough not to play off just a feeling
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