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Confirmation

Indicator introduction: Auto Trendline & Breakout AlertNote: This indicator will be published soon In short, this indicator is a tool designed for different purposes: 1) Automatic drawing of trend lines 2) Classification of trend lines based on the reaction of price chart and trading volume 3) Receiving trend lines breakout alerts 4) Analyzing smaller time frames is time consuming and tedious, but this tool makes it easy. The following figure shows 5-m time frame chart, you can see the panel of the latest breakouts on it (You can enable the panel in the settings menu): How it works? Trend lines are classified into 6 levels, of which only 3 are enabled by default. Level 01 (Red Lines) is the strongest level. Therefore, the breakout of these lines is the most important signal of this indicator. Volume verification helps you avoid fake Breakouts. As you can see, both the labels and the table show the status of the trading volume when the lines breakout. Trading volume is classified into 5 levels: Over volume (confirmed ✅) High volume (confirmed ✅) Neutral Low volume (potential fake breakout ⚠) Minor volume (potential fake breakout ⚠) This indicator can be used on both logarithmic and linear charts. (Scale in the settings menu can be changed from linear to logarithmic) Finally, this indicator includes a trend line breakout alert and you can be notified wherever you are. you can add alerts to different charts and enter the market in the best conditions. If you like it, please leave a comment.
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by BobRivera990
8
BITCOIN - Take All The Time You Need!Hello everyone, rouzwelt here Here is an update on Bitcoin in hourly timeframe. Well let's begin by stating that Bitcoin is still inside the uprising channel (yellow channel) although it is still rising, we don't see any definitive move from either buyers or sellers, price doesn't move that much and this makes trading difficult at this point. Let's take a look at the chart and as you can notice the upward impulse moves are getting smaller and weaker as we are going higher, and also we don't see enough volume and demand at those impulses, actually you can clearly see that the volume of each upward impulse is a little bit lower than the previous one. Well let me say it this way that, I still think the same as my previous posts, I still don't see increase in demands and still believe that Bitcoin is more likely to head to lower levels and if I want to enter on a trade I would go short, but I'm open to change my mind at anytime as soon as buyers start to show more interest and we see more demand. But I'd like to mention something else here, and that is that we actually don't see much work from sellers either, either they are getting weaker or they are waiting for a better opportunity to strike again with power, cause their last 3 4 attempts to break 30k support level has failed and buyers managed to bring the price back up inside 30/40k range. The whole last week price action was in my opinion boring, we didn't see much, just mainly sideways move with a bit of uprise which is not worth the risk to trade, I actually entered one long scalping trade, but you can clearly see that the correction of each impulse move was so big compared to the impulse size itself that made me exit from my trade and consider not taking the risk of going long again until I see a more definitive action form bulls or bears. I have projected the probable price actions in the chart (red and green arrows), right now technically speaking bitcoin is at its impulse move up inside the channel, so we can expect higher highs to get printed, until the price reaches to the upper side of the channel and then starts its correction move to the lower side (green arrow), I'm not personally going to open any long positions if we see this kind of move from bitcoin. But I believe there is a good chance that price might not manage to break above its last swing high, because that's actually sitting on 0.618 fib retracement in line with 36.5K resistance level, which makes it a strong resistance and if this happens then it'll be forming a double top which is a good indication of beginning of the next definitive move, but lack of volume may result in a dump even sooner before ever reaching that level again (red arrows). So I personally will be waiting for a clear definitive move form either buyers or sellers before I enter any trade at this moment and the confirmation for that would be the yellow channel breakout. I hope you find this post informative and if you do then please support me by hitting like and share, and comment if have any opinion about my analysis, I would appreciate that a lot. And as always have fun and trade safe.
by rouzwelt
3
CONFLUENCE TRADING | YOUR KEY TO ACCURATE ENTRIES 🥇 If you are struggling with the identification of accurate trading entries, you definitely should try confluence zones . Note: there are hundreds of variations of confluence elements. In this example, we will discuss trend lines and fibonnachi. ❗️To identify a confluence zone, the price must follow a trend line (it should match higher lows if the market is bullish; it should match lower highs if the market is bearish). Once the trend line is confirmed by at least two touches and consequent reactions , you can look for a confluence zone. 1️⃣Project a trend line and identify the next POTENTIAL touchpoint of the market with a trend line. 2️⃣Take the last impulse in the direction of the trend. Draw a fib retracement based on it (swing low to swing high in case if the market is bullish, swing high to swing low in case if the market is bearish). 3️⃣Take the previous impulse (it must be in the same direction as the initial one). Draw a fib retracement based on it. 4️⃣Look for a match of retracement levels of the last two impulses and a projected trend line. In case if two retracement fib.levels & trend line match, you found a confluence point. 5️⃣ Apply it as a safe entry point. You will get a perfect trend following opportunity. ❤️ Please, support this idea with a like and comment! ❤️ ⬇️ Subscribe to my social networks! ⬇️
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by VasilyTrader
2
Bitcoin AnalysisBINANCE:BTCUSDT Now the price has returned to the bottom of its own triangle and the situation It takes a lot of risk to enter and even The bottom of the triangle is broken once and this means for the second time Breaking the floor of a triangle becomes dangerous and friends witness one We are also a model of head and shoulders that if we want to proceed according to the pattern For we have to wait for the price of the neckline broken upwards Be and stabilize, then the conditions for entry are good
by Dicoinex