Slowly appreciating the combination of Bollinger Bands and Gann Fans on the continued hunt for indicator simplicity. Compared to my first charts using this site, this combo gives me both good glance views of price action and combined with a trendline an overall impression of how my positions could end up. I'm ($0.10) behind, which could constitute my first loss...
Took a chance getting in on some after hours trading on the aussie spot.
This worked out surprisingly well,taking home 225. That's a personal best. At $9.99 I'm less than twenty cents short of breaking even on the year.
So this chart sets up a reversal on what looks like a solid head-and-shoulder setup, so maybe I buy back in at 0.79176.
Today was a good day. I took home 63 pips coming in late on the bull action on the dollar this afternoon.
Entry was at 1.24446 and stopped out at 1.24509. I was expecting to beat February's high around 1.252 but we didn't make it before US close.
Oh well, 66 pips. Take what the market gives you.
This is a two day win streak for me now.
This is a rewrite.
5m chart, because it's well past midnight and even though the BTCUSD spot isn't technically subject to market hours like EURUSD, the best traders who swing the hardest (i.e. trade bigger lots) are asleep. Their EAs are doing the work for them (if you don't know what an EA is stop reading right now), so a 5m chart is a good way to still find...
...okay, not quite but still.
This idea came to me as I was flipping between 5m, 15m, and 1hr charts. Pretty reliable downtrend sticking close to the Fibonacci retracements. I added a channel after identifying the downtrend; one indicator telling you one thing might be lying, multiple indicators telling you the same thing might be telling you the truth.
Looking at a 1hr chart with I'm bearish on the dollar. DI- has been climbing for the last hour or so; trend strength confirmed with an RSI indicator has creeped up to 42.2419, suggesting the market shares this sentiment. Moving over to our average directional index (ADX), the bears are winning handily at the time of publishing this idea, this trend looks to...
Expecting a reversal of BTCUSD at 252.71 (Line A) if RSI crosses 46 and DI- beats 44 crossing the trendline from a daily low of 250.20. Price action has remained below MA14 for the last two periods, offering some strategy validation of closing below MA.
If the indicator conditions above are met and price closes below "A", this could be a solid reversal.