BITCOIN more sideways or trap upmove and short?++++++++++++++++++++++++ no financial advice ++++++++++++++++++++++++
I reproduce my thought processes in detail in the video.
Summary: I think we have to be careful with opening long positions. Possible Short stop hunt zones are mentionend in the video!
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Tdiindicator
Anchor Setup with Trap Happening for Short on USOilConfirmed 5 Days of rise so we're looking for a sell for a minimum of 3 days for a continuation of the buy trend. Looking on the H1 Chart for a bounce around the Mayo or Blueberry
**Pending Order**
US Oil Sell Stop
Entry - 68.10
SL - 69.50
TP1 - 67.90
TP2 - 67.70
TP3 - 67.30
TP4 - 67.00
TP5 - 66.50
5] How to use Traders Dynamic Index and Complementary OverlayCOMBINING MULTIPLE TUTORIALS
Price/HighMBL crash, overbought TDI:RSIPL indication = MUST SELL with use of lower time frames.
Trading a retracement (into HighMidline) is not really recommended, your'e not trading a reversal so its highly risky to countertrend trade against the main trend.
Price under HighMidline, with 'TDI overbought indication = MUST SELL with proper setup. Use of Flat Bottom, disjoint angle, or parallel channel are very useful when used with the separated 'TDI Pro indicator window.
60 Min chart BEST SELL ENTRY ZONE corresponds to price nearest of 240 HighMidline and especially of 'TDI indication of overbought condition. In this time period preparation of best sell entry is crucial for evasion of being stopped out and best to enter by RSIPL above 68 as BEST SELL POINT.
XtremePhaser trending down helps to determine the Take Profit area to look into (1] How to use Traders Dynamic Index and Complementary Overlay). As also was shown in the chart as target (2] How to use Traders Dynamic Index and Complementary Overlay). Midlines (Black & Gray lines) however are mainly for identifying the current trend as this published idea explains. Other 'TDI overlay component lines (MBLs, TSLs), and Phasers are only for reversal breakouts, if you know what I mean, and can be used to observe support/resistance.
4] How to use Traders Dynamic Index and Complementary OverlayThe basic function/use of HighPhaser:
How to use HighPhaser
Price trends steadily above HighPhaser,
then, crosses under HighPhaser but follows it.
Price attempts at making HighPhaser support for more moving up, but it then breaks it to fall more.
USDJPY Uptrend:
USDJPY Downtrend:
2] How to use Traders Dynamic Index and Complementary OverlayWe here learn to observe the higher time frame 360, and analyse 1D that RSIPL are crossed down parallel. So lower than daily time frame= 540, 360 allows for trend entry at a 360 RSIPL and 'TSL initial cross down for max profit.
On 180 as on 360 allowed for entry using the RSIPL/TSL crosses down. Also observing Phaser very near price as it 'pushed' priced down until price could breakout Phaser which had much importance.
Price breakout of black Midline meant clear reversal and price retraced to it for support with target being HighPhaser or Fibonacci retracement tool for extension target. Entry for this retracement was possible by means of the countertrendline cross.
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Promoting free and highly useful Indicators:
KK_Traders Dynamic Index_Bar Highlighting
Traders Dynamic Index Overlay
"Price Action Channel Master by JustUncleL Restored"
1] How to use Traders Dynamic Index and Complementary OverlayTraders Dynamic Index serves for crossover signals and are essential for trade entries and most beneficial when identified on over 30-minute Time Frames as on hourly time frames.
I have made the options available of the oversold (green) 32 level line overlay which is useful in identifying potential buy zones/price.
In KK_Traders Dynamic Index_Bar Highlighting it is also good to note that in uptrends : RSI ranges between Upper Volatility Band, Lower Volatility Band and/or relatively "within" 68 and 50 level lines as it has been doing on hourly time frames on Bitcoin.
Direction and deviation of MBL overlay or Phaser from price is strong indicator of trend direction and price level/zone useful for those who are confused in knowing where price will have to average into.
Promoting free and highly useful Indicators:
KK_Traders Dynamic Index_Bar Highlighting
Traders Dynamic Index Overlay
"Price Action Channel Master by JustUncleL Restored"
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I had not used these guides recently which I have currently published.
If anything (I ever do publish) varies contrary to these indicated guides and the coming guides to be published, the likelihood of failed forecast is augmented.