Bitcoin 4hr Candle | Trading off Heikin Ashi Candle Strategy
Bitcoin 4hr Candle | Trading off Heikin Ashi Candle Strategy
Bitcoin has been uptrending for a while now. Looking at the price ranges between trades, profits total 32.92% thus far.
Notice that in each entry, I waited until the script signaled for a green trend change candle(small bodied candle with up & down wicks). you see a green arrow
underneath. I waited until the second green candle(wick on top) to form before entering into position. This is confirmation of trend change. Same goes for selling,
Wait for a red trend change candle signal, sell at the next red candle with wick on bottom. Using bigger time frames cuts out all the trading noise. I wont be selling
until the 4hr shows a trend change first then another red bear candle.
For smaller time frames(5min), I found it beneficial to also use Stoch RSI, MACD, Vol, MA Cross indicators to confirm entries so that you're not constantly trading
in and out. I would advise against trading on the 5min using Heikin Ashi Strategy, It's just too tedious and time consuming.
Stay Disciplined and you shall be profitable. Dont chase the trades, Let them come to you. If you miss out, there's plenty more opportunities. Wait for the next
trend change. This technique can be applied o all Alt coins as well. Keep in mind though that alts tend to follow Bitcoins movements.
Thank you. Please share your thoughts, check out the website below, like and star.
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HEIKIN ASHI TECHNIQUE - My thoughts while learning this trading style
If you would like to learn how to trade off this technique, go to the link below by trading strategy guides. This style makes trading comfortable and
relaxing if you trade in the bigger timeframes, 4hr & 1day. For more price action and to gain more satoshi/USD out of the trades, trade in smaller time frames
from 5min, 15min, 30min, & 1hr. I will tell you, if you're a busy person in your everyday life, trading on the 5min and 15min is not ideal.
Credit for the Script goes to BOBTARHEEL -
www.tradingview.com/u/BOBTARHEEL/
Script- HOW TO ADD: go to link and add to favorites, then go to indicators and search for HA COLOR CHANGE, add indicator. For alerts, go to alerts and choose HA COLOR
CHANGE in the drop down menu.
This is the Script for basic indicators and alerts of trend/color changes between the candles
Bitcoin has been uptrending for a while now. Looking at the price ranges between trades, profits total 32.92% thus far.
Notice that in each entry, I waited until the script signaled for a green trend change candle(small bodied candle with up & down wicks). you see a green arrow
underneath. I waited until the second green candle(wick on top) to form before entering into position. This is confirmation of trend change. Same goes for selling,
Wait for a red trend change candle signal, sell at the next red candle with wick on bottom. Using bigger time frames cuts out all the trading noise. I wont be selling
until the 4hr shows a trend change first then another red bear candle.
For smaller time frames(5min), I found it beneficial to also use Stoch RSI, MACD, Vol, MA Cross indicators to confirm entries so that you're not constantly trading
in and out. I would advise against trading on the 5min using Heikin Ashi Strategy, It's just too tedious and time consuming.
Stay Disciplined and you shall be profitable. Dont chase the trades, Let them come to you. If you miss out, there's plenty more opportunities. Wait for the next
trend change. This technique can be applied o all Alt coins as well. Keep in mind though that alts tend to follow Bitcoins movements.
Thank you. Please share your thoughts, check out the website below, like and star.
------------------------------------------------------------------------------------------------------------------------------------------------------------------
HEIKIN ASHI TECHNIQUE - My thoughts while learning this trading style
If you would like to learn how to trade off this technique, go to the link below by trading strategy guides. This style makes trading comfortable and
relaxing if you trade in the bigger timeframes, 4hr & 1day. For more price action and to gain more satoshi/USD out of the trades, trade in smaller time frames
from 5min, 15min, 30min, & 1hr. I will tell you, if you're a busy person in your everyday life, trading on the 5min and 15min is not ideal.
Credit for the Script goes to BOBTARHEEL -
www.tradingview.com/u/BOBTARHEEL/
Script- HOW TO ADD: go to link and add to favorites, then go to indicators and search for HA COLOR CHANGE, add indicator. For alerts, go to alerts and choose HA COLOR
CHANGE in the drop down menu.
This is the Script for basic indicators and alerts of trend/color changes between the candles
Trade active:
4H Red trend candle formed as a bearish candle with bottom wick. BTC price dropped a few hundred dollars within the candle. This is a healthy retracement needed. I'm seeing other analyst predict retracement around $8100 then $7800 before moving back up to $9000
If another bear candle forms, I'll sell to USDT or move into an alt coin that's uptrending. My entry was $6175. What's nice about trading with the trend on bigger timeframes is that you don't worry about all the ups and downs BTC and Alts go through.
If another bear candle forms, I'll sell to USDT or move into an alt coin that's uptrending. My entry was $6175. What's nice about trading with the trend on bigger timeframes is that you don't worry about all the ups and downs BTC and Alts go through.
Trade closed manually:
According to Heikin Ashi technique, I'll close this trade around $8200. 2nd bear candle with bottom wick formed. If the bearish analysis plays, I'll reenter around $7800-$8190 when Ashi candles show bullish uptrend.
Those shorting, are up an average 2.77%. Ashi trend trading works well on shorts also.