How I determine the price action.
* tools...
1. SMA's ( simple moving averages)
5,10,15,20,40, section 1
50,75 section 2
200, 233 section 3
2. Fib's
a. Trend fib
b. Retracement fib
3. * Moon phase ( InSillico's 4 season)
4. BTC and news.
I start with where is the price in relation to the 200 SMA on the big picture 12 hour time frame. Is the price Above or Below.? Close or Far?
Now I look for what Sma's give the most support.. the most touches but dont break.
Place your Trend FIB. at the first place it crosses and closes above the 200's sma. it has to stay above it for this trend to be considered continuous. then extend to the highest and lowest point and now you have the trend ... keep moving the high and lowest points and the Complete move develops.
NOTE. if this was btc and it closes below the 200 sma even for a short while I would consider the move over and new one starting.
Now once you have that established. Look for a Pattern.. this is kind of subjective because some are not very clean or apparent or maybe you have two competing patterns.
Now what is BTC doing.. going up going down, sideways? and is there News... whale action, hacking, FUD, ect .. You will have to filter this info according to what you see with the chart you plan to trade.
On this chart I noticed the moon phase what working pretty well. but oddly I saw the equinox action but only saw it as a singular event. ... now that it took off I was happy but decided to look back further and the winter solstice gave some serious action too and then the full moon gave some great action too. unfortunately not all the way tot he new moon but that is what stop losses are for.
Lesson .. always keep a sharp eye for the previous action for possible future out comes.
* tools...
1. SMA's ( simple moving averages)
5,10,15,20,40, section 1
50,75 section 2
200, 233 section 3
2. Fib's
a. Trend fib
b. Retracement fib
3. * Moon phase ( InSillico's 4 season)
4. BTC and news.
I start with where is the price in relation to the 200 SMA on the big picture 12 hour time frame. Is the price Above or Below.? Close or Far?
Now I look for what Sma's give the most support.. the most touches but dont break.
Place your Trend FIB. at the first place it crosses and closes above the 200's sma. it has to stay above it for this trend to be considered continuous. then extend to the highest and lowest point and now you have the trend ... keep moving the high and lowest points and the Complete move develops.
NOTE. if this was btc and it closes below the 200 sma even for a short while I would consider the move over and new one starting.
Now once you have that established. Look for a Pattern.. this is kind of subjective because some are not very clean or apparent or maybe you have two competing patterns.
Now what is BTC doing.. going up going down, sideways? and is there News... whale action, hacking, FUD, ect .. You will have to filter this info according to what you see with the chart you plan to trade.
On this chart I noticed the moon phase what working pretty well. but oddly I saw the equinox action but only saw it as a singular event. ... now that it took off I was happy but decided to look back further and the winter solstice gave some serious action too and then the full moon gave some great action too. unfortunately not all the way tot he new moon but that is what stop losses are for.
Lesson .. always keep a sharp eye for the previous action for possible future out comes.
