ADA/BTC 1D Candle | Trading w/ Heikin Ashi Candle Strategy #BTC
Entry not safe yet. 1D shows Triple bottom here. We haven't seen this low since 29 March.
The 4hr chart, shows a trend change candle. Last run of green candles
was on the 25th and ran 20 hrs but profit potential was around .65% then dumps after.
When the Daily turns green, I will hop in long on this. If you want to hop in on the 4HR, don't enter until theres 2 bullish green candles. But, be on the watch for a red trend candle since ADA has been down trending. This is the proper Heikin Ashi technique.
Thank you. Please share your thoughts, like, & star. To learn how to become a trend trading Heikin Ashi Style Warrior, see links and experience notes below
----------------------------------------------------------------------------------------------------------------------------------------------------------------
***Heikin Ashi Trading Rules***
ENTRY: wait until the script signals for a trend change candle(small bodied candle with up & down wicks). you will see a green arrow underneath.
Now wait until the second green candle(wick on top) to form before entering into position. This is confirmation of trend change. You can also enter if thr first green candle is bullish(body with top wick only)
EXIT: Wait for a red trend change candle signal, sell at the next red candle with wick on bottom. If you want to take profits on the first red, it's up to you.
----------------------------------------------------------------------------------------------------------------------------------------------------------------
***My thoughts while learning this trading style***
- Using bigger time frames cuts out all the buy/sell noise. For smaller time frames(5min), I found it beneficial to also use Stoch RSI, MACD, Vol, MA Cross indicators to confirm entries so that you're not constantly trading in and out. I would advise against trading on the 5min using Heikin Ashi Strategy, It's just too tedious and time consuming.
- Stay Disciplined and you shall be profitable. Don't chase the trades, Let them come to you. If you miss out, there's plenty more opportunities. Wait for the next trend change. This technique can be applied on all Alt coins as well. Keep in mind though that alts tend to follow Bitcoins movements. Patience is key
- This style makes trading comfortable and relaxing if you trade in the bigger timeframes, 4hr & 1day. For more price action and to gain more satoshi/USD out of the trades, trade in smaller time frames from 5min, 15min, 30min, & 1hr. I will tell you, if you're a busy person in your everyday life, trading on the 5min and 15min is not ideal.
- Trading view Script from BOBTARHEEL- HOW TO ADD: go to link and add to favorites, then go to indicators and search for HA COLOR CHANGE, add indicator. For alerts, go to alerts and choose HA COLOR CHANGE in the drop down menu. CLICK PICTURE
- Website to learn: tradingstrategyguide...eiken-ashi-strategy/
The 4hr chart, shows a trend change candle. Last run of green candles
was on the 25th and ran 20 hrs but profit potential was around .65% then dumps after.
When the Daily turns green, I will hop in long on this. If you want to hop in on the 4HR, don't enter until theres 2 bullish green candles. But, be on the watch for a red trend candle since ADA has been down trending. This is the proper Heikin Ashi technique.
Thank you. Please share your thoughts, like, & star. To learn how to become a trend trading Heikin Ashi Style Warrior, see links and experience notes below
----------------------------------------------------------------------------------------------------------------------------------------------------------------
***Heikin Ashi Trading Rules***
ENTRY: wait until the script signals for a trend change candle(small bodied candle with up & down wicks). you will see a green arrow underneath.
Now wait until the second green candle(wick on top) to form before entering into position. This is confirmation of trend change. You can also enter if thr first green candle is bullish(body with top wick only)
EXIT: Wait for a red trend change candle signal, sell at the next red candle with wick on bottom. If you want to take profits on the first red, it's up to you.
----------------------------------------------------------------------------------------------------------------------------------------------------------------
***My thoughts while learning this trading style***
- Using bigger time frames cuts out all the buy/sell noise. For smaller time frames(5min), I found it beneficial to also use Stoch RSI, MACD, Vol, MA Cross indicators to confirm entries so that you're not constantly trading in and out. I would advise against trading on the 5min using Heikin Ashi Strategy, It's just too tedious and time consuming.
- Stay Disciplined and you shall be profitable. Don't chase the trades, Let them come to you. If you miss out, there's plenty more opportunities. Wait for the next trend change. This technique can be applied on all Alt coins as well. Keep in mind though that alts tend to follow Bitcoins movements. Patience is key
- This style makes trading comfortable and relaxing if you trade in the bigger timeframes, 4hr & 1day. For more price action and to gain more satoshi/USD out of the trades, trade in smaller time frames from 5min, 15min, 30min, & 1hr. I will tell you, if you're a busy person in your everyday life, trading on the 5min and 15min is not ideal.
- Trading view Script from BOBTARHEEL- HOW TO ADD: go to link and add to favorites, then go to indicators and search for HA COLOR CHANGE, add indicator. For alerts, go to alerts and choose HA COLOR CHANGE in the drop down menu. CLICK PICTURE
Trade active:
Alright so I went with the daring approach and didnt wait on the 1D turned green. Google what happens when there a triple bottom which you can find on the 1D ADA/BTC charts. On the 4HR a green bullish candle formed. Still 2 hrs 30mins left in this candle. I decided to enter here with a small position, $4k. I set a stop loss under the wick of the proceeding candle. This is the Heikin Ashi strategy to minimize loss. Hey, if I lose, I lose $60 but I ADA does what I think, I'll look to make $350-$530 on this trade. ADA is a slow moving coin however so I wont be dropping all of my capital into this trade. Let me know your thoughts. Thanks
Comment:
Well we all knew entry wasn't safe. Confirmation is important as BTC & Alts are too volatile. I took the $60 stop loss. Plus, its bloody Monday so likely we will see a drop for a few hours then a rebound that will last for a few days. Seems to be the weekly trend in my opinion. I wouldn't trade in anything less than 30min chart for entries today.