Using $tandard Deviation With BitcoinOur EMA (the blue line) is a great support and resistance line for an uptrend or downtrend in price action. We can use this to our advantage.
After a bit of studying the price action, I found that during down trending price action, if one of the red candles deviates from our EMA by around $1000, it is almost always likely to jump back to the EMA.
I indicate this with the yellow arrows. I found this method to have even more validity if the red candle does not start off by touching the EMA.
I've found that using smaller time frames for deciding where to jump in is helpful.
How do you know if Bitcoin is in an up or down swing? See my previous idea:
Standard
SPY closes above resistanceHey guys
So right at EOD today the SPY pulled above the resistance line we have been watching for a few weeks. The green arrow represents my expectations. Since we closed above the resistance I'm expecting it to act as support. The yellow lines represent other possible situations you should watch for.
Thanks! Good luck!
Euro to Overtake the Dollar Once Again, Eur/Usd, 1 dayA solid Gartley pattern to be completed with a lucky drop in value by the euro hopefully early this week.
I have my entry placed on the point D , my stop placed at structure just below point X , in case the market decides to retest X . and Finally i have my limit placed at the 1.618 extension of the BC leg.
Bat Pattern, Aud/Nzd , 1hrHere I found a bat pattern developed and completed in the negative deviation range of the AUD NZD chart. my strategy suggests that the market will rally up into positive deviation before correcting for trend continuation.
I have place my entry at point B to Verify reversal after point D
I have placed my Stop at point X for the break below close below bust
! have placed my limit at the 1.618 extension of the BC leg , for consistency and risk reward ratios