Time high conviction position sizing accordingly. (need to make the description longer or I cant post lol)
More readable than the BTC.D or TOTAL3 chart (it includes stables and is lagging).
Short the retest of resistence. Waiting for "OHLC" candle on D candlestick chart as confirmation. Inspired by Hsakatrades.
Conservative entry; W close above range mid (11k). SL under W structure, which is yet to form. Save this chart for a few years from now.
Played the SFP at W range low too. Twas a nice one.
Just testing at this point. Trying to figure out how to systematically place SL in a safe spot, without sacrificing R too much.
There are two types of strategies. Breakout trading (a level gets broken), and retest trading (a level holds). Confirmation: - Breakout requires one D close beyond the level. - SFP requires price to wick beyond the level, but have the same D candle close within it. - Retest requires a D close beyond the level, and another D candle to close without touching the level.
Does the opposite of eachother during moves. And ETHBTC just falls during consolidation.
It is so refreshing to look at a just the price instead of all the drawings. I make way better analysis with clean charts. It helps you see price for what it really is, price. Price.
I did not take the trade because I still think the market will rally eventhough this is technically an SFP. If I am doing this wrong please let me know.
We need a minimum of 2 consolidations to break higher, and remove the previous high to qualify for an uptrend. Only time will tell.
Trade with the (order)flow. Buy low, sell high. * Longs only below 20% * Shorts only below 80% Top-down analysis Tips are always welcome :D Might update with LTF setups later. Personal approach: - Limit orders only on (supply/demand) boxes. - Breakout trading under the right circumstances - I'm not comfortable with trading S/R flips as of yet. -...
Now lets see if the disbelieve is fair or stupid
BTC , ETH, LTC and Ripple take turns leading the global crypto markets. Of which, Ripple has been the strongest over the last few months. The weekly timeframe is consolidating inside a downtrend atm. We can swing trade the more volatile lower timeframes for increased profit margins. The goal is to make as many high accuracy, high R:R Trades as possible....