Separating chart patterns to identify trade opportunities?
People tell me it's incorrect to analyse btc with any other altcoin in a separate manner.
Usually one would look at btcusd as one pair. Here is BTCGBP with BTCUSD in the background.
BTC looking about as bullish as a pair of wet socks. It's in a converging diagonal pattern, D1. And it looks way to early to break out.
Yes, a declining converging diagonal or wedge is a bullish pattern, but the price action within is not. If we must name it, let's call it
a mushroom or partly completed declining H&S.
Try to add the DXY overlay to a BTC chart. There seems to be a pattern emerging. See what you think of it.
You could for example select the GBPJPY pair and add the BXY index to the chart as an overlay. Investigate this.
People tell me it's incorrect to analyse btc with any other altcoin in a separate manner.
Usually one would look at btcusd as one pair. Here is BTCGBP with BTCUSD in the background.
BTC looking about as bullish as a pair of wet socks. It's in a converging diagonal pattern, D1. And it looks way to early to break out.
Yes, a declining converging diagonal or wedge is a bullish pattern, but the price action within is not. If we must name it, let's call it
a mushroom or partly completed declining H&S.
Try to add the DXY overlay to a BTC chart. There seems to be a pattern emerging. See what you think of it.
You could for example select the GBPJPY pair and add the BXY index to the chart as an overlay. Investigate this.
