EMAflow Analytical modeMany users on tradingview are impressed by unlimited amount of indicators available but the truth is that just finding and adding together random indicators is something that brings unpredictable results. Every good trader will tell you that after you learn the knowledge biggest time goes to practice and learning when certain indicator works and when it doesn't ... This takes many years and in the end it is better to understand something when it works and when it doesn't (and adjust how you react to this) than not.. if you keep exploring new things you will be in a cursed circle always confused when market conditions change enough that something breaks.
EMAflow has been always created and developed from same base elements - all indicators are ment to be complementery, supportive of each other - watching exactly the same thing from another angle while providing same signals - so when you get same signal on many aspects you know its high probability. But sometimes grasping what market we're in is very hard so you need to zoom out - but then again comparing random fractals and ema crosses is not enough many times aswell..
This why EMAflowPRO comes with Analytical mode - ment to be always watched in zoom out -- it will provide visual signature of price action from different angles but looking for the same things..
Have a look
s3.tradingview.com
No matter what EMAflow indicator you use - it will provide consistent colors and feel based on the angle it tries to interpret.
Can your random indicators put together do that?
Let the time answer this one :) If you don't have time and just want what works - EMAflow gives exactly what you need. Find out more on my profile.
Also the top chart - has 3 levels of buy the dip on spot :) Follow what happens arround this area to see the ranges and intraday variants in action.
Feeling
BTC ready for a big move down?The daily chart seems quite indecisive at the moment, but by zooming out the weekly things look much more bearish to from here.
Clearly looks like we are in a consolidation between Weekly 200 EMA as resistance and 200 MA as support.
Also we have some very heavy resistance around 4200. Weekly 21 MA is closing in on price, currently at 4182.
The blue trendline that previously acted as support is likely to be retested as resistance.
The Stoch RSI - one of my favourite indicators - is very overbought right now. Every time this has happened we've seen a 25%+ drop.
At the least, we'll get a retest of the lower 200 MA (currently at 3400) and if that breaks, then a measured objective of the previous impulse move will take us to test 2000.
There's no clear entry signal on this trade. At the moment I'm finding entry signals difficult to follow and finding anticipation of market flow a better strategy. Timing is incredibly difficult if a level breaks, a 10% move could happen in within a 15 minute period and I'm not in a position to watch the charts all day right now.
Short term there is a possibility of another spike up to 4100 so keep your leverage and SL wide. I'll be laddering in shorts at the following levels:
3780 (already open)
3898
4075
I've opened one at 3780 because I get FOMO otherwise. The number of times I've waited for a retrace only for the market to shoot off without me is ridiculous. This way at least I have some skin in the game.
Daily Chart
BTCUSD: Bitcoin Monday Morning FeelingBitcoin Monday Morning Feeling
Bitcoin finally gave up the weekend rally with a little double
top at 8399 before falling away overnight to a low at 8005 at
06:00 gmt/01:00est
A break below 8000 was needed to trigger the next short from
here.
Since then it's made a little counter-rally but looks vulnerable
again once it fails and the small rising dynamic underpinning
the rally today gives way. Should fall back to 8000 when this
gives way and once 7962 gives way should begin to pick up
downside momentum. A short when 8070 breaks with stop
above 8115 and add or more aggressive short once 7950 gives
way with stops 70 or so higher when broken.
But until we see the little rising dynamic broken below Bitcoin
will attempt to push higher in nearterm and cannot be
shorted yet.