How Charts Should be Set Up
(info via Mark Polumba)
Charting (Planning the Trade)
[Setting up chart]
Dark Mode
Wicks stand out (Wicks indicate a rejection: buyers were there to push it back up or sellers were there to push it back down)
4 hour chart
Magnet locks trendline to wick
Trend Line - Right end extended for future spots
AGAINST US dollar - COIN base, against Bitcoin - Finance
Log scale equals out return from a macro scale and looking at asset over long period of time especially when an asset has done 100% growth multiple iterations
Time and percentage data is important when looking at risk-reward: long position shift
[Building your watch list]
Trade list: add BTC(USD)
BTC1! - indicates gaps (90% of gaps get filled)
BTCUSDLONG/SHORT - how many OUTSTANDING shorts on currency of bitcoin, heads up on squeeze or overextended long positions that would be forced sells on market and add market pressures
BTC.D - market cap of bitcoin (of all of the total crypto markets, what percentage of all that asset class is held in bitcoin
Total crypto market cap - overall market cap of all assets held in crypto
Total 2 - shows value of all other crypto taking bitcoin out of account
Between 4/5/6 Can see overall health of market and how well altcoin is growing in comparison
Often things move in 4 cycles between Coffins? And bitcoin and coffins and alt coin (alt coin presents incredible opportunity to get a double gain if both alt coin value are going up to the value of bitcoin
[Adding alt coins]
Stick to top ten because they have the most liquidity. Can’t get out of price without liquidity
ETHUSD - coin based
ETHBTC - binance
Chart of ETH/BTC might look diff then ETH/USD which creates lots more opportunity for creating value
LINKUSD - coinbased
LINKBTC - binance
ATOMUSD - coin based
ATOMBTC - coin based
[Adding indicators]
RSI
MACD, top
TTM Squeeze
Volume - alert on volume moving up 50% in 2 bars
Alerts are your best friend
Charting (Planning the Trade)
[Setting up chart]
Dark Mode
Wicks stand out (Wicks indicate a rejection: buyers were there to push it back up or sellers were there to push it back down)
4 hour chart
Magnet locks trendline to wick
Trend Line - Right end extended for future spots
AGAINST US dollar - COIN base, against Bitcoin - Finance
Log scale equals out return from a macro scale and looking at asset over long period of time especially when an asset has done 100% growth multiple iterations
Time and percentage data is important when looking at risk-reward: long position shift
[Building your watch list]
Trade list: add BTC(USD)
BTC1! - indicates gaps (90% of gaps get filled)
BTCUSDLONG/SHORT - how many OUTSTANDING shorts on currency of bitcoin, heads up on squeeze or overextended long positions that would be forced sells on market and add market pressures
BTC.D - market cap of bitcoin (of all of the total crypto markets, what percentage of all that asset class is held in bitcoin
Total crypto market cap - overall market cap of all assets held in crypto
Total 2 - shows value of all other crypto taking bitcoin out of account
Between 4/5/6 Can see overall health of market and how well altcoin is growing in comparison
Often things move in 4 cycles between Coffins? And bitcoin and coffins and alt coin (alt coin presents incredible opportunity to get a double gain if both alt coin value are going up to the value of bitcoin
[Adding alt coins]
Stick to top ten because they have the most liquidity. Can’t get out of price without liquidity
ETHUSD - coin based
ETHBTC - binance
Chart of ETH/BTC might look diff then ETH/USD which creates lots more opportunity for creating value
LINKUSD - coinbased
LINKBTC - binance
ATOMUSD - coin based
ATOMBTC - coin based
[Adding indicators]
RSI
MACD, top
TTM Squeeze
Volume - alert on volume moving up 50% in 2 bars
Alerts are your best friend
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