Part 1 of 2. This is a-BTCUSD Update. Since I first published my opinions on Labor Day-BTCUSD has been sideways to mildly up-trending.
If you look at the chart above, the SHADY ACTION I am talking about is the CHOP indicator (below the chart).
I drew five GOLDEN VERTICAL LINES that I entitled GOLDEN TRIGGERS.
Please observe the price action in-BTCUSD when the CHOP line leaves the SHADED ZONE. Here is what I am trying to show you:
Golden trigger 1, May 25th, CHOP starts heading out of the shaded area, buy Fractals, prices and indicators rise.
Golden trigger 2, June 17th, 5/34 and RSI sagging, sell Fractal issued, up momentum stalled.
Golden trigger 3, July 31st, CHOP starts heading out of shaded area, this time with negative indicators and sell Fractal.
Golden trigger 4, August 13th, CHOP enters back into shaded area, now side-ways action.
Golden trigger 5 ??. IF CHOP CONTINUES LOWER, the potential for an upside breakout is stronger.
This is a daily chart. The four hour chart, which I will publish next, is more choppy and side-ways, with the CHOP right in the middle of the SHADED AREA.
Here is what you should look for: on the daily chart, a continued improvement in the CHOP (lower) along with indicator improvement.
On the four hour chart, the same. Once the four hour chart has CHOP below the shaded area, and the daily has the same, you should be able to build a strong case for an upside breakout. If you back-test CHOP and see how it is coincident with TREND you should find that your indicators work much better.
Please go to the four hour chart. It is positive, but choppy with no trend....yet.
Your trigger is when CHOP sinks below the shaded area (38.2) on the daily and four hour charts at the same time.
Good luck to you. Don.
If you look at the chart above, the SHADY ACTION I am talking about is the CHOP indicator (below the chart).
I drew five GOLDEN VERTICAL LINES that I entitled GOLDEN TRIGGERS.
Please observe the price action in-BTCUSD when the CHOP line leaves the SHADED ZONE. Here is what I am trying to show you:
Golden trigger 1, May 25th, CHOP starts heading out of the shaded area, buy Fractals, prices and indicators rise.
Golden trigger 2, June 17th, 5/34 and RSI sagging, sell Fractal issued, up momentum stalled.
Golden trigger 3, July 31st, CHOP starts heading out of shaded area, this time with negative indicators and sell Fractal.
Golden trigger 4, August 13th, CHOP enters back into shaded area, now side-ways action.
Golden trigger 5 ??. IF CHOP CONTINUES LOWER, the potential for an upside breakout is stronger.
This is a daily chart. The four hour chart, which I will publish next, is more choppy and side-ways, with the CHOP right in the middle of the SHADED AREA.
Here is what you should look for: on the daily chart, a continued improvement in the CHOP (lower) along with indicator improvement.
On the four hour chart, the same. Once the four hour chart has CHOP below the shaded area, and the daily has the same, you should be able to build a strong case for an upside breakout. If you back-test CHOP and see how it is coincident with TREND you should find that your indicators work much better.
Please go to the four hour chart. It is positive, but choppy with no trend....yet.
Your trigger is when CHOP sinks below the shaded area (38.2) on the daily and four hour charts at the same time.
Good luck to you. Don.
