Look at my other ideas for further explanation...but simply put:
you cannot judge a price if the price moves, ergo the price of a stock is then a derivative of an unknown. If I cant be certain of the price of said money, then how do I derive the price of a stock.
Well that's where the stock/DXY comes in...it helps to value to currency at the current rate at the moment and really roughly sets aside inflation in broad terms. See how the current price is higher than the past, but the price chart shows its like 4-6k off the ATH....
So you divide and then plot, pick your point and channel away...This is done using Log since BTCUSD is way to volatile to use standard price scale.
A view from the close range and you can see the dots are for reference.
remember a high wick or a low wick doesn't mean too much, but it especially means nothing using this method. So where the peak or trough of that red line ratio is, you must align it with the close, but it a green or red candle. That why your channels may not look like mine, however mine are hitting a lot of stuff and can't be made up since too much aligns for it to be not useful or forced.
So remember, you may have to be a little CyQoTek to see things differently, but if you do ^^^
you cannot judge a price if the price moves, ergo the price of a stock is then a derivative of an unknown. If I cant be certain of the price of said money, then how do I derive the price of a stock.
Well that's where the stock/DXY comes in...it helps to value to currency at the current rate at the moment and really roughly sets aside inflation in broad terms. See how the current price is higher than the past, but the price chart shows its like 4-6k off the ATH....
So you divide and then plot, pick your point and channel away...This is done using Log since BTCUSD is way to volatile to use standard price scale.
A view from the close range and you can see the dots are for reference.
remember a high wick or a low wick doesn't mean too much, but it especially means nothing using this method. So where the peak or trough of that red line ratio is, you must align it with the close, but it a green or red candle. That why your channels may not look like mine, however mine are hitting a lot of stuff and can't be made up since too much aligns for it to be not useful or forced.
So remember, you may have to be a little CyQoTek to see things differently, but if you do ^^^
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.