ETHBTC analysis based on ToW proprietary indicators

Analysis:

• The direction lines are crossing 0 down and mostly down indicating a down trend.
  
• The red line in the bottom pane crossed the pink area again indicating a down trend.
  
• The swing (purple) lines are not high (the normal strategy, indicating being oversold over one the one-bar time frame). However the swing lines seem to be in trend mode (don't swing/ zig-zag much) and the trend is down.
  

I closed the long ETHBTC position earlier today for 12.4% profit. Now I'm taking the short position.

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Description of my Tug-of-War (ToW) indicators (named for the tug-of-war between the bulls and the bears):

• The price moving up or down is usually correlated with the lines of my ToW indicator being above or below 0 (you can hover in the chart above over previous bars to confirm).
  
• The green lines in the 2nd pane from the top and purple lines in the other panes are the swing line (it often swings up and down from one bar to the next around its moving average).
  
• The rest of the lines are the direction lines (they show the expected direction or trend).
  
• The ideal setup is for the trend to be one way (let's say on the up side of 0, preferably pointing up as well) and the swing line to be the other way (to be on the down side of its moving average, the red line). Thus the purple, swing line will likely swing back to be on the same side of its moving average as the trend lines are on the side of the 0 line (unless the trend breaks down). This is like buying during dips on a strong uptrend.
  
• In addition to that I'm also looking for potential divergence between the top pane lines (ToW-D) and the price which may indicate a reversal.
  

DISCLAIMER: Security trading involves substantial risk of loss. My analysis is not trading advice. Do your own research first and/or consult a financial advisor. I'm not responsible for any losses you may incur following my analysis.

Comment: I opened a position a bit before posting the idea, opened at 0.034071.

Trade closed manually: Just closed at 0.033629. 0.000442 profit.

Comment: Based on my SL, I made 31.3% profit (of the risked amount based on the SL).