Judging the trend with the CPR BTC bitcoin
What you see before you is the central pivot range. otherwise known as the CPR. these levels are plotted determining the previous time frames on the start of a new timframe. The three timeframes we see here our the daily levels. the weekly levels. and the monthly levels. These levels are static no matter the timeframe of your candles sticks so I just put them at a timeframe that makes them visible.
How can it be used? Well as you can see. when trending up and when it is likely to trend up the next cpr levels are plotted at a higher value. because price is the auction. that is what is important. You can see from the daily cpr we have been plotting lower values and down trending. The weekly levels have been plotting higher value until these weekly values and we are currently facing the prospect of turning that one into a new higher or lower value over this week. and the monthly levels have been in and still are in a uptrending higher value relationship.
What to do with this information? Other than judging the trend you will notice. Nearly all of the time. When a new timeframe opens and price is far from the new levels... WE GO AND REVERT TO THE CPR. I put this part in caps because you truly ought to consider the prospects and value of knowing this information. as with enough time and experience it can allow you to trade both directions with confidence and even plot the next time frames levels to be prepared for reversal or re entry. The purple pivot lines also represent the place where you can buy the dips in an uptrend. and sell the rips in a downtrend. Just be aware and patient for them. When untested. it is a magnet pulling you to it. When tested and held or lost it is a magnet pushing you away.
Very valuable tool
How can it be used? Well as you can see. when trending up and when it is likely to trend up the next cpr levels are plotted at a higher value. because price is the auction. that is what is important. You can see from the daily cpr we have been plotting lower values and down trending. The weekly levels have been plotting higher value until these weekly values and we are currently facing the prospect of turning that one into a new higher or lower value over this week. and the monthly levels have been in and still are in a uptrending higher value relationship.
What to do with this information? Other than judging the trend you will notice. Nearly all of the time. When a new timeframe opens and price is far from the new levels... WE GO AND REVERT TO THE CPR. I put this part in caps because you truly ought to consider the prospects and value of knowing this information. as with enough time and experience it can allow you to trade both directions with confidence and even plot the next time frames levels to be prepared for reversal or re entry. The purple pivot lines also represent the place where you can buy the dips in an uptrend. and sell the rips in a downtrend. Just be aware and patient for them. When untested. it is a magnet pulling you to it. When tested and held or lost it is a magnet pushing you away.
Very valuable tool
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