Easy MVIS trading:
Simple 3 steps.
***All 3 rules need to be true before buying or selling***
Steps to BUY. (Orange circles on chart indicate buy signal.)
1) Price under white moving average.
2) Bottom indicator - Red and white lines are under the yellow horizontal line.
3) Above indicator - Green line under the yellow horizontal line.
When all 3 of these rules are true, then it's a buy signal.
Steps to SELL. (Blue boxes on chart indicate sell signal.)
1) Price above white moving average.
2) Bottom indicator - Red and white lines are above the yellow horizontal line.
3) Above indicator - Green line above the yellow horizontal line.
When all 3 of these rules are true, then it's a sell signal.
Simple 3 steps.
***All 3 rules need to be true before buying or selling***
Steps to BUY. (Orange circles on chart indicate buy signal.)
1) Price under white moving average.
2) Bottom indicator - Red and white lines are under the yellow horizontal line.
3) Above indicator - Green line under the yellow horizontal line.
When all 3 of these rules are true, then it's a buy signal.
Steps to SELL. (Blue boxes on chart indicate sell signal.)
1) Price above white moving average.
2) Bottom indicator - Red and white lines are above the yellow horizontal line.
3) Above indicator - Green line above the yellow horizontal line.
When all 3 of these rules are true, then it's a sell signal.
Trade active:
As of October 13, 2023, MVIS closed the week at $2.07.
If you're following this strategy, the rsi hasn't broken below the 30 level yet.
It's currently at 38, so expect price to go lower for the rsi to move lower.
Other than that, 2 out of the 3 signals are good: Price is below the 20 ema and the stoch rsi is below the 20 level.
Remember, all 3 rules need to be true at the same time to be considered a buy or sell.
If you're following this strategy, the rsi hasn't broken below the 30 level yet.
It's currently at 38, so expect price to go lower for the rsi to move lower.
Other than that, 2 out of the 3 signals are good: Price is below the 20 ema and the stoch rsi is below the 20 level.
Remember, all 3 rules need to be true at the same time to be considered a buy or sell.
Trade active:
For anyone who is wondering how the oscillators are doing on MVIS, here's an updated chart and summary:
1)Price is below the white moving average (YES)
2)Stochastic rsi is flat at 0 and below the yellow line (YES)
3)Rsi has yet to dip below the yellow line (NO)
So far 2 out of the 3 rules are true.
For rsi to dip lower, price needs to fall further. That's why you need all rules to be true.
For anyone who is wondering how the oscillators are doing on MVIS, here's an updated chart and summary:
1)Price is below the white moving average (YES)
2)Stochastic rsi is flat at 0 and below the yellow line (YES)
3)Rsi has yet to dip below the yellow line (NO)
So far 2 out of the 3 rules are true.
For rsi to dip lower, price needs to fall further. That's why you need all rules to be true.
-There possibly could be a 2021 versus 2023 fractal pattern playing out. (purple rectangles)
The light red vertical lines show where we are in the move now versus 2021.
-Price got rejected by the 20 ema in 2021 and 2023. (yellow arrows)
-In 2021, rsi got rejected by the 43 level, as well as its based moving average. (dotted red horizontal line)
In 2023, the same thing just occurred in the rsi.
-In 2021 the stochastics was rejected by the 30 level. (dotted blue horizontal line)
In 2023, the stochastics just peaked above the 20 level, but hasn't tested the 30 level yet.
- In 2021, you can see after the ema, stochastics and rsi got rejected, price fell 70% in 77 days.
This drop created a general area to accumulate. All 3 rules applied at the same time. (orange circles)
-Will this happen again in 2023?
If the stochastics gets rejected by the 30 level, this could be a clue that the fractal pattern might be playing out.