MAGICUSDT Resistance Breakout!MAGICUSDT (4h Chart) Technical analysis
MAGICUSDT (4h Chart) Currently trading at $2.17
Buy level: Above $2.16
Stop loss: Below $1.66
TP1: $2.6
TP2: $2.9
TP3: $3.2
TP4: $3.8
Max Leverage 2x
Always keep Stop loss
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Magiccoins
What TimeFrame do traders look at most? What should they look @?I am still working on my first strategy (been for weeks now) and have several more after this, but from what I saw the 4-HR and 1-HR chart seem to provide the best signals. Also, all my strategies are based on the daily chart (if I see these factors align on daily then I look for signals on H-1 H-4 charts such as macd divergence or something).
So are these timeframes the ones people look at the most? I will look at trading views ideas to find out!
28 09 2018
Daily ideas 13 pages: 234
15 min ==> 18 ideas
30 min ==> 11 ideas
60 min ==> 46 ideas
120 min ==> 13 ideas
240 min ==> 65 ideas
480 min ==> 5 ideas
720 min ==> 4 ideas
1D ==> 56 ideas
3D ==> 4 ideas
1W ==> 12 ideas
Total = 234. H4 = 27.7%. H1 = 20%. Covered > 70% with just D1 H4 H1.
Ideas per ticker:
BTC--- = 76 ideas (and all the top ones)
XRP--- = 23 ideas
EURUSD = 15 ideas
Gold = 13 ideas ("Gold," + "XAUUSD,")
ETH--- = 12 ideas
GBPUSD = 9 ideas
USDJPY = 9 ideas
LTC--- = 9 ideas
Total for those: 166
All the rest no one cares about: 68.
USD in the name = idk around 200 :D
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Popular all time:
Top ideas = Bitcoin November 2017 to mid-2018 (not a bubble)
All time top idea noncrypto views: EURUSD 10935 views.
31th top idea for Bitcoin at the bottom of page 2: 75140 views (not a bubble)
BITCOIN BITCOIN BITCOIN BITCOIN AAA MAKE IT STOP.
All time top idea for Bitcoin number of views: You don't even want to know.
Of the 2 first pages (top 37 ideas):
Number of ideas that are not Bitcoin ==> 6/37
Number of ideas that are not Crypto ==> 2/37 EURUSD + Gold
TWO. And one of them just got alot of likes but not that many views.
T.W.O. Out of sqkn,fkqsin,f 37. 2 2 2 2 2 2.
NOT A BUBBLE! Clear proof this is the revolution right. It is only the beginning? The whole planet is looking at crypto.
Number of people interested only in crypto / number of (real?) traders (using approximate number of views) = 100.000 * 37 / 80.000 = 46 to 1.
Oh ye that does not look at all like a bubble. Hordes of cryptoer outnumbering traders that do not care what chart they trade as long as it moves 46 to 1.
Keep in mind crypto is sideways 90% of the time. Seems legit.
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Ok so for finding out the used timeframe I will have to filter... I am not trying to figure what novices and noob authors with troll ideas that get hundred of thousands of views use for Bitcoin.
Forex filter let's go. So this will just shows what the POPULAR authors use. Not your common folk eager to give me his money :D
Top 10 pages of most popular all time ideas for FX. 18/ page. 180 total.
60 ==> 52. 29%
240 ==> 80. 45%
D1 ==> 41. 23%
Covers 96%. 15 min charts rarely make it to most popular all time obviously.
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Newest currencies only (28 09): top 20 pages. 360 ideas.
60 ==> 107. 29.5%
240 ==> 132. 36.5%
D1 ==> 64. 18%
Covers 84%
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Newest currencies pages 21 to 40. 360 ideas.
60 ==> 100. 27.5%
240 ==> 129. 36%
D1 ==> 79. 22%
Covers 85.5%
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We pretty consistent. Going to make these stats again next week.
So was I right about these TimeFrames? Yes. Yes I was :D
So it all makes sense. The Timeframes coving 85% are the ones giving all the right signals, while other TF just give false signals all the time!
Conclusion: do NOT go against the herd. The more people look at something, the stronger it will be. Do not try looking for hidden secrets (well... not by themselves). Do not try to fight the capital (or magical :p) markets.
Go for the obvious supports, trendlines, and oscillators every one is looking at, and on the popular timeframes.
Love the market, respect it, and the market will love you back ;)