15minute length graph is the wrong one I have put ! Please look at the 5 hour length graph below ! sorry !!!!
I see rsi (relative strength index) as the 1st differential of the price by time !
(let's study how rsi values are created later and see if my idea is right or wrong XD)
The fundamental is that If I see the rsi going up where the price is going down or not going up, I buy !!
But there are major conditions that I put on after this fundamental to confirm the bet. I don't buy something just because I saw the upwards divergence.
I close the position with loss when the rsi value goes down too much that the upwards divergence has lost its shape.
(I look at local minimal points of the price, trade volume of those points and whether rsi values of those points are going up)
I hold until the point where I feel and examine that it is fair price aviation for that good upwards momentum we have been leveraging on.
(I only do spot trade now, no leveraged bets. I mean I am leveraging on the upward force !)
There are many minor details among this process, I can tell you if you want just let me know I might make a video of sh1tty quality of me trying to explain those stuff, but it's really just the fundamentals that the legends have been emphasizing quite much !
For example, in ADA USD or ADA USDT graph, you can find three lower apex prices in the 5-hour unit chart, they were impactful lower points in my eyes.
However, I observed rsi values of those three points went up subsequent to the former ones.
So I looked at every other hour unit graph and one extra rsi graph with different numbers for averaging tick bundle (length), and I confirmed to myself that the anabatic force is being applied, and I also felt that it isn't too weak to fail to support the anabatic energy, and also it isn't in short time interval either.
So I made a speculation that the price would go up to around 2.821$ in usdt scale for binance chart, and that time will be roughly around 19th of November this year !
So from today, my plan is to hold on to ada for about 8 days !
I will close the position if the rsi anabatic divergence is interrupted with a bigger catabatic rsi change, but I wouldn't sell ada if that divergence is still there. In that I mean, even if the price of ada in usdt scale hits lower than 1.78$, I wouldn't actually close the position if the divergence hasn't been disturbed !
There are much more that I would love to talk about during this thought anabolism, I will tell you just one more principle during this process.
It is about why I used binance usdt chart for feeling how ada is doing !
I mean, I could have used adakrw, adausd in coinbase, kraken, etc ... There are so many other counter-values or exchanges that forms a team.
However, I have chosen binance usdt chart for ada for speculation, because I believed that it has the biggest volume among all the other, and I also believed that it will be harder for the bigger one to possess a bigger overpotential than the smaller one when it comes to the inertia of real price - shown price regression.
Like, if you are to ask the answer to a question that your teacher has given you for homework, I would believe a friend who has a higher score on that major would have more tendency to answer it better than a friend who has a lower score !
Here it is just my playground and I am trying to have fun.
I am happy to share my thought process, and you can share what you think, I'll be fine with it !
Here is ADABTC chart if you want to try applying my thought process just for fun !
ADAUSDT
I see rsi (relative strength index) as the 1st differential of the price by time !
(let's study how rsi values are created later and see if my idea is right or wrong XD)
The fundamental is that If I see the rsi going up where the price is going down or not going up, I buy !!
But there are major conditions that I put on after this fundamental to confirm the bet. I don't buy something just because I saw the upwards divergence.
I close the position with loss when the rsi value goes down too much that the upwards divergence has lost its shape.
(I look at local minimal points of the price, trade volume of those points and whether rsi values of those points are going up)
I hold until the point where I feel and examine that it is fair price aviation for that good upwards momentum we have been leveraging on.
(I only do spot trade now, no leveraged bets. I mean I am leveraging on the upward force !)
There are many minor details among this process, I can tell you if you want just let me know I might make a video of sh1tty quality of me trying to explain those stuff, but it's really just the fundamentals that the legends have been emphasizing quite much !
For example, in ADA USD or ADA USDT graph, you can find three lower apex prices in the 5-hour unit chart, they were impactful lower points in my eyes.
However, I observed rsi values of those three points went up subsequent to the former ones.
So I looked at every other hour unit graph and one extra rsi graph with different numbers for averaging tick bundle (length), and I confirmed to myself that the anabatic force is being applied, and I also felt that it isn't too weak to fail to support the anabatic energy, and also it isn't in short time interval either.
So I made a speculation that the price would go up to around 2.821$ in usdt scale for binance chart, and that time will be roughly around 19th of November this year !
So from today, my plan is to hold on to ada for about 8 days !
I will close the position if the rsi anabatic divergence is interrupted with a bigger catabatic rsi change, but I wouldn't sell ada if that divergence is still there. In that I mean, even if the price of ada in usdt scale hits lower than 1.78$, I wouldn't actually close the position if the divergence hasn't been disturbed !
There are much more that I would love to talk about during this thought anabolism, I will tell you just one more principle during this process.
It is about why I used binance usdt chart for feeling how ada is doing !
I mean, I could have used adakrw, adausd in coinbase, kraken, etc ... There are so many other counter-values or exchanges that forms a team.
However, I have chosen binance usdt chart for ada for speculation, because I believed that it has the biggest volume among all the other, and I also believed that it will be harder for the bigger one to possess a bigger overpotential than the smaller one when it comes to the inertia of real price - shown price regression.
Like, if you are to ask the answer to a question that your teacher has given you for homework, I would believe a friend who has a higher score on that major would have more tendency to answer it better than a friend who has a lower score !
Here it is just my playground and I am trying to have fun.
I am happy to share my thought process, and you can share what you think, I'll be fine with it !
Here is ADABTC chart if you want to try applying my thought process just for fun !
ADAUSDT