I believe that buyers entered too early. Their reasons for doing so made sense:
- EMA 200
- 2.618 Fib
- Stochastic divergence
- Stochastic oversold
- Prior support
Albeit their entry made sense, the downtrend is not yet exhausted.
- TD Sequential 7-of-9
- TD Countdown 10-of-13
- Close below 2.618 Fib
- Close below EMA 144 (circled)...
- MA 3/12 Dead Cross
- TD Sequential momentum not exhausted (6/9)
- MA 3/12 Dead Cross
- Inverse Fisher ALMA upper target breach leading to lower target
- Phi3 EMA...
I closed my position last night as I was observing a bearish divergence. What I didn't see before is that 1Y and 6M Pivots P was hit and price is struggling beneath this point. Repeat, the 1 Year and 6 Months Pivots center line was hit and we're getting bearish divergence with reversal candlesticks. The 16D chart is the key to Bitcoin right now and the market is...
The horizontal lines are extremely significant Fibonacci ratios based on the 69D chart. The market attempted / is attempting an MA 3/12 Golden Cross after falling below 3.618. Short targets are given assuming that bulls fail here. Ultimately, this would be a lower high and price will fall to a lower low, precipitating lower and lower price targets. The ultimate...
200 EMA SYSTEM:
- The 200 EMA SYSTEM is very simple and easy to follow.
- It's very appealing with the potential to bring you hundreds of ticks a month.
- Trades with the trend and effectively buys low and sells high.
- Helps identify the main trend - whether the market is going up or down.
Why 200 EMA? Why not use other EMA's like 100 EMA , or 50 EMA or 20 EMA...
The one week chart is the Golden Key to understanding Bitcoin's price movement. At this time, Bitcoin is under a zone of resistance, as can be seen on the left side of the chart. This resistance began forming the Week of February 15th and continues to this very moment. As far as Nison candlestick trading strategy goes, look to MA 3/12. Observe on the chart that...
Buyers now assume the greatest risk entering under resistance.
Wait for the market to pull back and test for a Change of Polarity.
Buy on the close of a bullish candlestick reversal signal:
- Bullish Engulfing Pattern
- Morning Star
Set your stop loss below the low of the candlestick pattern.
3 EMA's System
The 3EMA's is a very simple trading strategy based on 3 exponential moving averages ( EMA ).
8 EMA , 21 EMA , and 55 EMA .
Alternative: 10 EMA , 25 EMA , and 50 EMA .
A trade is initiated on the FAILURE of the retracement that happens after the 8 EMA crosses the 55 EMA .
Why not initiate a trade when...
Monthly momentum is 2-of-9 and Monthly trend is 7-of-13. Lower timeframe TD Sequential reversal signals are going to be much weaker than under normal...
I've got my plan figured out now. If SMA 3/12 on Daily does not Dead Cross I'm back in long. This strategy has been extremely profitable and low risk for me over the years in major situations. I used this method to get into this up wave on the Weekly chart and it now proves itself relevant on the Daily. I love this strategy and I definitely recommend you consider...