allcargo-riding the whales with wyckoff?This is the net volume infusion on the OBV indicator ..
the point and figure chart
Disclaimer.. Not an investment/trading recommendation
Volume
Volume Profile - Fixed Range/Session Volume/Visible RangeVolume Profile (The explanation here is extremely detailed. The actual use I explain is the second bottom half)
1. Introduction
2. Use Options
3. Terminology
4. Example
5. Conclusion
1. Introduction
The Volume Profile is an extremely useful tool that can give you an expanded view of actual price pressure if you struggle to find support levels.
There are a number of strategies the Volume Profile was designed to be used for, but I have found over the years most of it is useless in Crypto or it can be found with better methods. I will cover what I use it for in this educational piece.
Most traders use the default Volume indicator that measures Volume based on time instead of price levels. While this is semi useful, I remove that on all of my charts and use Volume Studies that are based on price levels for a more accurate view.
The Volume Profile can be found in the indicators section on TradingView shown in the link below.
imgur.com
As a note, I do change my settings depending on how I am using this indicator. I do enable Show Values, so I may see a detailed look at actual numbers. Also, I do change the amount of rows (Row Size) depending on how detailed of a look I need for the current situation. For the most part, I disable the P.O.C., Developing P.O.C., and Developing VA. I have found these features to clutter what I am looking at and not provide me with any kind of accurate or useful information. Some traders will disagree, but in reality they are just added features that rarely apply to crypto trading as a strategy. However, there may be times when they are useful and there is actual strategies that can be used, but I will not cover them because it will waste everyone's time.
2. There are 3 different ways to use it:
Fixed Range- This is used for a set number of candles. Upon clicking this, you then select the area you would like to study. This is extremely useful when studying past fractals and how they would apply to current price action. Also, they are useful when studying how a catalyst or black swan affected the price of an asset for future theories and trading preparation.
Shown below is a Fixed Range from December 10th to the 19th for Ethereum. ($415-$861)
Session Volume- This measurement takes the Daily close no matter what time frame you are viewing and sets individual measurements for that 24 hours.
Shown below is a the last 3 days as of this writing for Ethereum.
Visible Range- This option is useful for quick views of price levels that automatically adjust as you zoom in and out of the chart. Whatever candles are visible on the chart, it shows trading Volume at those price levels.
Shown below was Ethereum's last rally from $300-$1,425 and current correction. (Values have been disabled & row amount/size is set at 100)
3. Terminology
Point of Control (P.O.C.) – The price level for the time period with the highest traded volume.
Profile High – The highest reached price level during the specified time period.
Profile Low – The lowest reached price level during the specified time period.
Value Area (VA) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70%. However, it is up to the trader’s discretion.
Value Area High (VAH) – The highest price level within the value area.
Value Area Low (VAL) – The lowest price level within the value area.
BTCEUR, example of a trend break after active accumulation.Example of a trend break after active accumulation.
The analysis was performed using the X-volume indicator. Thin vertical dashed lines indicate candles with active accumulation. The blue dashed lines indicate the process of redistribution. For details, refer to the instructions for the indicator. It should be noted that it is not true to speak of a trend change analyzing only a few bars.
How to enter a trade (entry signals) for CTR/BTC price spikeHi all.
I've had some PM's about the price spike we had for CTR/BTC over the last 24 hours, given that I did some analysis on this a few days back.
I've recorded this vid to provide some context around what you should have been looking for! There's also some time spent on what not to do, which will hopefully be useful for newer traders.
Hope it's useful. Let me know any feedback or other things that you would like covered.
Cheers and good luck,
RJR
THE IMPORTANCE OF VOLUME ANALYSIS: Part IIThe wave is currently finalized and is working as planned:
I ended the previous post pointing at the lack of the volume required to confirm trend reversal at supposed point 5.
And in fact, for quite a while the price kept slowly drifting up and down without substantial moves in any direction.
This situation lasted until bearish volume spike on 07/11 that initiated real trend reversal.
It is also necessary to point out that though that spike was only medium in nature, but the change in its volume compared to previous data was sudden and drastic.
Later the volume changes were driving the price accordingly up and down, but most importantly the local bearish trend was established and continued successfully.
Currently, the price is close to the crossing of the line 2-4 at which volume dynamics should be carefully monitored as this may provide a good tip if this is really the end of the analyzed downtrend.
If you have any questions, feel free to ask in comments or PM me.
The Future of the current priceJust read what i wrote above and you will understand what is happening, we are once again experiencing overbought conditions. Don't forget this is not a currency and not a commodity, it won't go that down.
How I trade.This is how I trade. I can get very good Risk:Reward ratio using this strategy. I also use Pivot, Fibonacci and Volume analysis to assist my trading.
Springs and upthrusts tutorialI hope you enjoy this tutorial about Wycoff's Springs and Upthrusts with entry spots
Wkly BTCE - normal consolidation after big surgeToday's tutorial session was all about long term viability. While it is one thing to have a sound fundamental idea, it is quite another to have a good trade setup. Ideally, as rational investors, we only want to buy when both fundamental and technical indicators are pointing in the same direction. Unfortunately, while the fundamental story for BitCoin still seems to be sound, technically the story is not. Supply has overwhelmed demand of late (With news of China's forced liquidation and ban of BitCoins that adds further supply over the short term) and as a result price has made lower highs and lower lows.From a cyclical perspective, if the bull/bear cycles repeat then one ought to expect to see about six months of consolidation before any new move can begin in earnest. Based on volume alone I believe that signal will be quite clear. Should we get a weekly bullish session where volume surpasses the recent down bar peaks then we will know buyers have once again taken over.
