ninjabenja

SCMR Analysis Suite Product REVIEW - live in the TV App Store!

BITSTAMP:BTCUSD   Bitcoin / Dollar
It's been a while since I've been able to publish any trade setups or ideas, but let me assure you... it was worth             the wait and you wont be disappointed.

This chart illustrates the newest system to grace the TV app store, "Analysis Suite - SCMR             Trends" and how I used it to dominate this H&S trade setup... and basically every other trade I've taken in the last two months. It will be a staple of all my published charts going forward so it only makes sense that I give you a run down on what you'll be looking at. It is unquestionably the best thing to happen to my trading since candlestick charts.

The H&S trade setup was pretty obvious, although I don't know that many took it (if at all) with the same confidence that I did. You can see how I determined my target levels- pretty standard: Distance from peak of the "head" to the "neckline" , drawn as measured moves from the peak of the right shoulder (target #1) and then from the neckline itself (target #2). The "SCMR Dynamic Levels" plot clearly identifiable support and resistance areas. By definition they are dynamic, meaning they *can* move, be pushed or be erased by follow up price action. However, the algorithm which plots them does so based on known market supply and demand levels, eliminating the guess work regarding strength and location. Monthly levels are stronger than weekly; weekly stronger than daily, etc. In this chart, the Dark Red circles are the monthly dynamic resistance and the smaller Pink/Red circles are the weekly.

When price broke the neckline that was my signal to get short. But where to do it now that it's already happened? I never chase price, so I waited for my entry, which as you can see came when we pulled right back into the weekly resistance level (about $394), where I entered short with zero hesitation. Price tanked and I was making BTC hand over fist. My target #1 was tapped, but not filled then price started ranging. Is it reversing? Will it continue going up?? The candles were all over the place and largely gray (signalling indecision) but all guess work gone when the new Dynamic level had printed resistance and we broke out of the range to the down side. With the "SCMR Trends", The candles change color indicating trend, trend strength and helps to alert you to trend change so you don't miss the trade entry or exit. The "SCMR B2B" helps to qualify or disqualify trend changes and reversals so you're less likely to get left holding the bag on a fake-out. The last Blue reversal candle is where this trade ended. I had already achieved my exit level but waited for confirmation in the form of the reversal candle to close my short for target #2, giving me maximum profits and not leaving anything on the table by closing early.

Full disclosure: I am *not* being paid or compensated for promoting this product or this system. I was given a demo copy for review prior to official release and all of the above analysis was based on that less refined "beta" version. The SCMR             suite comes highly recommended and is an extremely high quality product that I encourage you to explore. The value is self evident. If you have questions send a PM to @SPYdyerCrusher or click on the "Indicators" button at the top of your chart and find "SCMR Analysis" under Marketplace Add-Ons.

~Cheers!
NB!

What can I say -- I am incredibly appreciative and humbled by your review.

Great analysis too! You really nailed it on this one and have a great command on how the tools can be used to take a position and manage it along the way. I'm very happy that my software was able to contribute successfully to you analysis and trading!

Here's to more successful trades!
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I'm a newbie, do you need to go pro to use the add-on?
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I'm a newbie also- truth be told but no- it's a subscription based service which is independent of your TV account status. In my case, the amount of bitcoin I made on my first trade with the tools covered the cost for all of next year.
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are there walkthroughs etc on how to use it, I am totally new to TV
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ninjabenja PRO BenjaminNewton
To be perfectly honest, I don't know how much of the documentation is "finalized". I got it for review before there was anything available and learned to use it through trial, error and observation... and by bugging @SPYderCrusher. Take a look here: http://www.spydercrusher.com/#!scmr-trends-manual/cvek and I would suggest you PM @SPYderCrusher with any questions.
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SPYderCrusher PRO BenjaminNewton
NB is correct, there are docs at my site but they are not "final". You would be surprised how difficult it is to create comprehensive documentation without risking putting the reader to sleep! I think what I will end up doing is tutorial videos.

In the mean time, there is enough info at the link to at least get your on your feet, and if you did sign up, what I would do is schedule an online meeting with you so we can chat and I can give you a demo that should explain the best use.

Also, feel free to PM/email with any question.
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Hello Kieco, thank you for the interest and the question.

No, you don't have to go PRO to use the add-on.

Although, I will point out you get a lot of value by going PRO (such as more intraday timeframes, custom symbols, and several other perks so you may want to consider it.
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