BTCUSDT | 2H | Heikin Ashi Trading Style | Where's the bounce?
Yeah, it's obvious the bears have taken control but we shall wait and see what happens.
Rave:
I hope by now, you've consulted with your your small team of analyst, advisors, groups, someone that told you to sell earlier. If not, find those trusted people and collaborate with them. If you got out in time, commend and thank those who put in the effort. We are all here to help each other make money.
Rant:
We are diving back into the ancient art of Heikin Ashi trading. I tried all that dead cat bounce, fib levels, Elliot wave theory styles and I tell ya, I just can't get it. Ima leave it up to the experts and feed off them. After all, why fix your engine, if you're not a mechanic. Why do your own taxes, if you don't really know how too. That's why there's experts. Use them but vet, verify, validate them. Make sure they win more than lose and never blindly follow them into a trade. Do your own research and analyzing before entering trades.
Current situation TA:
Candles: So, red bear candles have formed and the indicators say sell. You see my red sell arrow. yup, I have it set on all my charts. Let the candles tell you when the trend is changing. Heikin Ashi candles do this for you.
Moving averages: The price uses this 3 moving averages as support & bounces; resistances & rejections. We hope that BTC bounces off the Blue MA(25). If not, next target is down to the Purple MA(99). Oh, and don't let it fall below that.....then we fall to oblivion and have to wait and wait.
Volume: OH wow important volume is. This we know. The volume on the chart is well above the orange Moving Average. This says...a crap ton of people/bots out there dropping BTC like a bad habit. Once volume starts to die out, means a trend change is brewing up.
Stoch RSI and MACD: I just use these tools as reference but they sometimes give false hope for RSI and lags behind on MACD. Still, I have them up as they help paint a better picture. I'm loving the histogram action though. When the yellow shows up on the histogram, I get happy because I should be thinking about buying or sell depending on uptrend or downtrend.
Well, that's enough talking. Hardly anyone reads long explanations.
Rave:
I hope by now, you've consulted with your your small team of analyst, advisors, groups, someone that told you to sell earlier. If not, find those trusted people and collaborate with them. If you got out in time, commend and thank those who put in the effort. We are all here to help each other make money.
Rant:
We are diving back into the ancient art of Heikin Ashi trading. I tried all that dead cat bounce, fib levels, Elliot wave theory styles and I tell ya, I just can't get it. Ima leave it up to the experts and feed off them. After all, why fix your engine, if you're not a mechanic. Why do your own taxes, if you don't really know how too. That's why there's experts. Use them but vet, verify, validate them. Make sure they win more than lose and never blindly follow them into a trade. Do your own research and analyzing before entering trades.
Current situation TA:
Candles: So, red bear candles have formed and the indicators say sell. You see my red sell arrow. yup, I have it set on all my charts. Let the candles tell you when the trend is changing. Heikin Ashi candles do this for you.
Moving averages: The price uses this 3 moving averages as support & bounces; resistances & rejections. We hope that BTC bounces off the Blue MA(25). If not, next target is down to the Purple MA(99). Oh, and don't let it fall below that.....then we fall to oblivion and have to wait and wait.
Volume: OH wow important volume is. This we know. The volume on the chart is well above the orange Moving Average. This says...a crap ton of people/bots out there dropping BTC like a bad habit. Once volume starts to die out, means a trend change is brewing up.
Stoch RSI and MACD: I just use these tools as reference but they sometimes give false hope for RSI and lags behind on MACD. Still, I have them up as they help paint a better picture. I'm loving the histogram action though. When the yellow shows up on the histogram, I get happy because I should be thinking about buying or sell depending on uptrend or downtrend.
Well, that's enough talking. Hardly anyone reads long explanations.
Comment:
Rejected right at $5584.66 red trend change candle and script to sell. Price break down
Red trend change candle turned green and script gave a buy signal.
Next candle is a confirmed green bull candle.
We still have a 3 times rejected resistance that needs to be broken through @ $5584.66