BTCUSD: 2 simplest strategies to buy & sell in any time frame
1. Buy:
1.1. In any time frame we buy when price is seemingly plunging & RSI is gaining strength. Here we "MUST" watch only.
1.2. Then, a consolidation starts during which we can be almost sure that there will be no more descending move.
1.3. Being familiar with Harmonic Patterns during growth, consolidation & downturn cycles would of utmost help.
1.4. Next is a rhyming of HHs & HLs and RSI (14) is implicating the end of a previous cycle & the new coming one.
1.5. With RSI (2) you can see at least 2 very low figures less than 10 rising and falling followed by the 3rd HL which can be a trigger.
1.6. The latter is true in daily & weekly time frames when Elliot wave counting has been done. 2nd & 4th Elliot's Corrective waves out of 5 impulsive waves reacting to the most important corrective fib levels while price is so close to the "dynamic logarithmic support" of weekly time frame price channel.
2. Sell:
2.1. In any time frame, we sell when price is seemingly going higher while RSI (14) is getting weaker.
2.2. In weekly time frame price can touch or cannot touch the "dynamic logarithmic resistance" in the first nearest distance or a complete touch with price channel.
2.3. While in daily it is showing weakness specially in the second touch with channel.
2.4. This is most true when the latter is accompanied by price getting closer or touching "dynamic logarithmic resistance" of weekly price channel while in Elliots wave counting either 1st impulsive wave, or the 3rd & the 5th ones are formed.
2.5. This (RSI Weakness coinciding with the 1st, 3rd & 5th Elliots) can be rechecked by setting fib projection levels.
Volume & the total market index for weekly and daily time frames need to be checked as well. What has been said is very easy & obvious in a way while very complicated in another way. One needs to find its own trading/investing style which best suits his personal needs & capabilities.
Any strategy has to be addressed only if there is a plan in advance. A plan has a natural deviance from reality all the time & might not yield best returns on investment, but it guarantees survival & resiliency of the business.
This is for learning purposes only and is not a financial advice.
1.1. In any time frame we buy when price is seemingly plunging & RSI is gaining strength. Here we "MUST" watch only.
1.2. Then, a consolidation starts during which we can be almost sure that there will be no more descending move.
1.3. Being familiar with Harmonic Patterns during growth, consolidation & downturn cycles would of utmost help.
1.4. Next is a rhyming of HHs & HLs and RSI (14) is implicating the end of a previous cycle & the new coming one.
1.5. With RSI (2) you can see at least 2 very low figures less than 10 rising and falling followed by the 3rd HL which can be a trigger.
1.6. The latter is true in daily & weekly time frames when Elliot wave counting has been done. 2nd & 4th Elliot's Corrective waves out of 5 impulsive waves reacting to the most important corrective fib levels while price is so close to the "dynamic logarithmic support" of weekly time frame price channel.
2. Sell:
2.1. In any time frame, we sell when price is seemingly going higher while RSI (14) is getting weaker.
2.2. In weekly time frame price can touch or cannot touch the "dynamic logarithmic resistance" in the first nearest distance or a complete touch with price channel.
2.3. While in daily it is showing weakness specially in the second touch with channel.
2.4. This is most true when the latter is accompanied by price getting closer or touching "dynamic logarithmic resistance" of weekly price channel while in Elliots wave counting either 1st impulsive wave, or the 3rd & the 5th ones are formed.
2.5. This (RSI Weakness coinciding with the 1st, 3rd & 5th Elliots) can be rechecked by setting fib projection levels.
Volume & the total market index for weekly and daily time frames need to be checked as well. What has been said is very easy & obvious in a way while very complicated in another way. One needs to find its own trading/investing style which best suits his personal needs & capabilities.
Any strategy has to be addressed only if there is a plan in advance. A plan has a natural deviance from reality all the time & might not yield best returns on investment, but it guarantees survival & resiliency of the business.
This is for learning purposes only and is not a financial advice.
