BTCUSD: Do not rush to buy BTC; Time for Daily Swingers Only!
Simplest Trading & Investment Strategy:
Price & RSI (14)/RSI(2) Positive/Negative Convergence/Divergence Strategy.
If 1st Peak on Price Chart was made at ATH $42K while RSI (14) at 89.59, then we need to wait whether this time when price is coming back up to previous peak, RSI (14) will make a lower or higher maximum or not?
Fairly simple thing happens to work - how?
1. Convergence/Divergence (-,+) between Price & "RSI (14)" for Mid-term traders in Daily Timeframe to open Buys/Sells.
2. Convergence/Divergence (-,+) between Price & "RSI (2)" for "Swinger traders" in Daily Timeframe to open Buys/Sells.
3. Convergence/Divergence (-,+) between Price & "RSI (14)" for Longer Term traders in "Weekly" Timeframe to open Buys/Sells.
4. Convergence/Divergence (-,+) between Price & "RSI (14)" for INVESTORS traders in "Monthly" Timeframe to open Buys/Sells.
5. Lower Time frames (4H, 3H, 2H, so on): The same is valid.
Note: Finding Support/Resistance Clusters for Chosen time frame is very important.
Conclusion: Time & Price distortions are quite possible. This text is representing a Trading Strategy & not Analysis, first. Then, I do think one should not rush to buy/sell except when you know exactly what is your chosen Timeframe & Strategy. A combination of the abovementioned can be utilized.
Trading is fun & easy if you know what you WANT (Time & %) & what you are ABLE of DOING (Strategies & Tools).
If you find it useful I would be truly grateful to let me know what you think.
All the best,
Morteza
Price & RSI (14)/RSI(2) Positive/Negative Convergence/Divergence Strategy.
If 1st Peak on Price Chart was made at ATH $42K while RSI (14) at 89.59, then we need to wait whether this time when price is coming back up to previous peak, RSI (14) will make a lower or higher maximum or not?
Fairly simple thing happens to work - how?
1. Convergence/Divergence (-,+) between Price & "RSI (14)" for Mid-term traders in Daily Timeframe to open Buys/Sells.
2. Convergence/Divergence (-,+) between Price & "RSI (2)" for "Swinger traders" in Daily Timeframe to open Buys/Sells.
3. Convergence/Divergence (-,+) between Price & "RSI (14)" for Longer Term traders in "Weekly" Timeframe to open Buys/Sells.
4. Convergence/Divergence (-,+) between Price & "RSI (14)" for INVESTORS traders in "Monthly" Timeframe to open Buys/Sells.
5. Lower Time frames (4H, 3H, 2H, so on): The same is valid.
Note: Finding Support/Resistance Clusters for Chosen time frame is very important.
Conclusion: Time & Price distortions are quite possible. This text is representing a Trading Strategy & not Analysis, first. Then, I do think one should not rush to buy/sell except when you know exactly what is your chosen Timeframe & Strategy. A combination of the abovementioned can be utilized.
Trading is fun & easy if you know what you WANT (Time & %) & what you are ABLE of DOING (Strategies & Tools).
If you find it useful I would be truly grateful to let me know what you think.
All the best,
Morteza