Gloomy days for capital and capitalism ahead as we fast approach the much anticipated 'fear' cycle peak in Q3'17, strap on your seat belts folks, its gonna be a bumpy ride...
aka The Rational Investor
Also, please do ETH! Is it ready for bull continuation?
So two questions here
1. As for which MA's one uses that is really up to your trading plan. What time frames YOU use, What criteria are necessary to trigger YOUR setups. Everyone is different, so setups look differently for everyone - its a very personal thing. I personally like using the 13ema, 30sma and 200sma. Tags and reversals off these MA's coupled with momentum/price/volume signals would constitute criteria for a trade setup (at least 3 unrelated reasons to take a trade). So please refer to the MA's on the chart for those levels.
2. The PoC (point of control) here is the entire year's range so totally relevant imo. Ideally the profile wants to looks like a nice pyramid on its side (45 degree angles) or what is called 'full'. Notice here our profile looks very top heavy. So seems to me Volprofile wise this PoC will act as the pivot as price explores both sides. It has explored the top, now seems likely we will go explore the bottom.
Hope that all helps,
Anyways, thanks a lot!
P.S. Ethereum please!
I agree, its feels odd to monitor ETH in trdingview, but I cant seem to figure out why exactly that is! So, I'd like to hang on the alts traders forum! Where is it?
I was already short, for the record... lets see how it plays out. In my setup, instead of defining the stop through the previous high, i use a trendline traced from the $316 top to the recent $238 top. If that line breaks with volume, or with bullish indicators, then I consider that to be my stop. That way, I can have a tighter stop (plus it actually goes lower every candle), and therefore less risk. Right now the line would be hit at about $231, although its not an automatic stop; it is more the price at which i start to hunt for confirmation to stop.
Makes sense, or is it the most ridiculous thing you have ever read?
hope that helps and all the best
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