Cross-Checking Gold’s Supertrend Adaptively on MTFAGreetings Esteemed Investors,
I've received numerous inquiries regarding my gold (XAU) long position. Some of you have even suggested that I might be mistaken and consider XAU to be bearish. While I cannot assess your individual trades, I can provide a more detailed explanation of my rationale.
Comparing Indicators
Top Chart: Supertrend
This chart displays XAUUSD daily candles. I prefer daily candles to analyze gold over a year or more, as this helps filter out noise and reduce false signals. Additionally, I've applied TradingView's built-in Supertrend indicator, which often proves profitable over long timeframes. Observe the 2023 yearly chart of XAUUSD; buying when the Supertrend was positive (green) and selling when it was negative (red) would have been profitable.
Bottom Chart: Advanced Dynamic Threshold RSI
The bottom chart also displays XAUUSD daily candles for 2023, but here, multiple timeframes are considered using the Advanced Dynamic Threshold RSI indicator. This indicator generates weighted buy and sell signals based on RSI analysis, dynamic threshold calculation, and optional Bollinger Bands. Note the different RSIs under the candles (blue, green, and orange). The selling signals appear as red triangles and the buy signals are green triangles.
Comparison: Supertrend vs Advanced Dynamic Threshold RSI
Timelines
In 2023's XAUUSD market, I observed that Supertrend tends to indicate bullish trends earlier than my RSI, while my RSI might indicate bearish trends sooner than Supertrend. The dotted lines on both charts show the timeline of the detected trend. The sooner the trend was detected, the earlier the timeline started. This difference in timelines highlights the potential trading advantage of using both indicators together.
Exclusive & Inclusive Cross-Checking Methods
Inclusive Cross-Checking Principle
My Advanced Dynamic Threshold RSI indicator uses an inclusive cross-checking method, where RSI signals from different timeframes must align for a signal to be displayed. This ensures that all RSI indications are in consensus. However, this method makes the indicator slower to react on bullish shifts.
Exclusive Cross-Checking Principle
I used two charts and two indicators to demonstrate the potential of exclusive cross-checking. In this method, a long signal (Buy sticker) is generated if at least one of the indicators shows bullishness. In this case, one exclusive buy signal is sufficient to display the sticker. This method allows for quicker action on bullish trends.
Selective Cross-Checking Principle
Selective cross-checking combines exclusive and inclusive methods. The key is to understand which indicators tend to predict certain developments sooner. In 2023, for XAUUSD, Supertrend was faster for bullish trends and my indicator was faster for bearish trends. So, I wrote rules like the RSI signals of multiple timeframes must align, but I don't require the agreement of Supertrend and MFT RSI to open a position.
Latest Position
I opened a long position on XAUUSD on November 12th. The original stop loss was $1925, and the potential target is $2072. However, I'm using trailing profit, so the risk-reward ratio has changed. I currently wouldn't open a long position, but I'll keep the existing long position until the trail profit activates or the RSI indicator generates a sell signal.
Disclaimer:
This is not investment advice. Conduct your own research. This publication explains only one aspect of my approach, not my comprehensive strategy. The idea focuses on observations around the price action; reading the indicator descriptions is recommended for understanding of the calculations.
Sincerely,
Ely
Speed
HNT ON WAY FOR THE SPEED WAYHello Trader,
Thank you for taking the time to read our update.
Data
HNT is recognized as a cryptocurrency that enjoyed a favorable period until it was delisted from financially important exchanges. However, since the beginning of 2022, it has experienced a period of decline.
We are closely monitoring HNT in anticipation of a potential resurgence.
Currently, we are eagerly awaiting HNT's performance in the critical hours ahead.
Targets
We are closely observing HNT's price movement, with an eye on reaching $1.60 initially and aiming for an eventual increase to $2.
Thanks for your comments
Market Structure: Speed and Slope on Multiple TimeframesHey! Hope you are well!
In this selection, there is a showing of the use of angles to measure the passage of time and price.
In the first chart, the 30 minute chart, there is 40 units of time, and 40 units of price. The angle that is correspondent with this ratio spans to the end of the enclosed trend.
In the next chart, the four minute chart, there is 40 units of time and 40 units of price. The angle that corresponds to this ratio spans only to the end of the first trend.
However, the 8x1 angle stretches to the end of the full segment.
By these examples, the concept of speed is meant to be shown. In each corresponding timeframe, there is a speed. For the daily chart, the speed is one day. On the five minute chart, the speed is five minutes, so in making forecasts, predictions, trendlines, and others, consider the speed.
Suggested Reading:
Law of Vibration - Tony Plummer
Michael Jenkins - Geometry of Stock Market Profits, Chart Reading for Professional Traders, Complete Stock Market Forecasting Course
Scott M. Carney - The Harmonic Trader, Harmonic Trading Volume I, Harmonic Trading Volume II, Harmonic Trading Volume III
H.M. Gartley - Profits in the Stock Market
Bill Williams - Trading Chaos, New Trading Dimensions, Trading Chaos 2nd Edition
J.M. Hurst - The Profit Magic of Stock Transaction Timing, Cyclic Analysis: A Dynamic Approach
Fabio Oreste - Quantum Trading
Michael Jardine - New Frontiers in Fibonacci Trading
The Wave Principle, Nature's Law
Ralph Nelson Elliot
Technical Analysis of the Financial Markets
John J. Murphy
A Complete Guide to Volume Price Analysis
Anna Coulling
Mastering The Elliot Wave
Glenn Neely
NANO Doube Fib Speed Fan plus FractalHello you all!
I hope you are all well.
For the last 4 days, we saw the price of NANO USDT decreasing and this gives me a good fractal to grab hold to.
What I mean is that at the beginning of the last cycle we got a succulent dip which culminated in that nice pump we saw 16 apr `21.
After the dip the price raized and then we saw a dip of about one week before the pump.
Right now we saw a dramatic dip which may indicate that the cycle may repeat, at least at some level of similarity.
Alright. So now we are on the 4 day of the dip, but it seems to me like this movement is a bit more extended than the last one, which means that it could take more than a week for the dip to dip before the potential pump.
These last 4 days of going down gave me a good target for me to place this fractal a little more accurately.
I like how the fractal fits the automatic fib fans by DGT available for free here on trading view.
I hope this was clear enough hahaha
Nice ride you all.
SHOP descending wedge is as at a lower edgeWhile I'd look for a breakout to the upside to this descending wedge, I think it's equally likely that price will bounce off my purple breakout line and head down for another leg. We'll have to wait and see.
It's also noteworthy to notice we're now trading below the grey resistance area, so that might add an additional ceiling to bounce off.
Speed Analysis Indicates a Year Ahead without Much GrowthTSM is an excellent stock when it comes to the fundamentals of the company, yet, it has experienced a major slowdown recently. Analyzing the speed of the growth based on the latest two major bullish trends, the COVID-19 trend and the one before it, one can identify the median range where we stand right now. The Fibonnaci Speed Fan analysis also takes into consideration the exponential growth starting this year and uptil a little after the GameStop squeeze, showing that it was in the normal, albeit high-end range of operation of the COVID-19 trend. Since the highest point was hit in February, now gravity is pulling us back towards the pre-COVID19 levels, and not only the pre-GameStopSqueeze ones.
There's another major factor at play here: the Chinese market. Comparison with GLOBALPRIME:CHINA50 , as indicated in the chart, shows that TSM is faring better than, while being heavily influenced by, the market condition in China. Given my analysis before regarding the Chinese market, I believe we are now in the normal pre-COVID 19 range of operation and we are not witnessing a bear for now.
For TSM, I don't see a bear either given the company's excellent profile. However, the stock price is not yet in the pre-COVID19 range, as it's stuck in the median trend. This should change given the lack of momentum arising from market saturation. My estimation of a price target is around 130 for April next year, when the current flattening meets the pre-COVID19 trend line..
Solana 2021 end of year price speculationGiven that Solana is a fairly new and not even a year old blockchain we need to look at the amazing benefits it brings to the crypto world. One of these is a whopping 50,000 transactions per second beating every competitor hands down. Ethereum handles 15-25 transactions per second, Ripple with 1700 TPS, Bitcoin 4.6 transactions per second, EOS claims 50,000 transactions per second but not sure. Also, Solana's average fee per transaction is 0.00005 with global validators now at 689 and growing. You also have an impressive Solana ecosystem with great platforms like Binance, USDC, Crypto.com, Exodus and Atomic, Band Protocol, Bitfinex, Tether, Chainlink, Kin, Ledger, and the list goes on and on. I use Solana wallets and it amazes me how lightning fast the transactions are. I mean it literally sends my Kin the instant I press the send button it confirms and deposits instantly.
solana.com
It is clear that Solana will be a huge competitor to Ethereum, Tezoz, Cardano, and other similar platforms. I am thinking that with such a low circulating supply with Solana of only 267,460,091 SOL, we could see a serious higher price at the end of this year.
My end of year price points for Solana: $900, $2,000 & $3,000
ERD is a perfect investmentHi.
I'll get right to the point:
ERD is a perfect investment, Transaction speed and latencies are remarkable among all the existing coins in the market... more than 10000 TPS and lowest latency possible...
soon there are lots of great news coming up like being supported by Microsoft, etc.
there are lots of perfect news about this.. don't miss this opportunity...
if you have any question about ERD or fundamental signals, write your question in the comment section and here's my telegram ID: hadi_K_E