20160617 Use of a daily graph with HHHC tool in BTCUSDT trading
20160617 historical study: Use of a daily graph with HHHC tool in BTCUSDT trading.
In a daily graph of BTCUSDT, the EasyBee59 for TradingView tool marked orange "Max" labels on 20160530 and 20160602 candles. A white supply line could be drawn by linking these two maximum points together. On 20190606, a label "K-Min" appeared below that candle where the stochastic value was below 20%. When the 20190610 candle closed above the SMA5 line in the way that it engulfed the preceeding red candle. This signaled a high possibility for afterward bullish direction. This candle also set both of it's high and close points higher than the high of previous candle. This is called the "Higher High, Higher Close" or "HHHC" condition that set a high possibility that the price would continue in its upward direction.
In a daily graph of BTCUSDT, the EasyBee59 for TradingView tool marked orange "Max" labels on 20160530 and 20160602 candles. A white supply line could be drawn by linking these two maximum points together. On 20190606, a label "K-Min" appeared below that candle where the stochastic value was below 20%. When the 20190610 candle closed above the SMA5 line in the way that it engulfed the preceeding red candle. This signaled a high possibility for afterward bullish direction. This candle also set both of it's high and close points higher than the high of previous candle. This is called the "Higher High, Higher Close" or "HHHC" condition that set a high possibility that the price would continue in its upward direction.
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