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BTCUSD 1D Renko Chart with CM_Trendbars, EMAs and a custom DMIThis 1D BTCUSD chart is based on Renko Candlesticks, the CM_Trendbars, 4 EMA (9,15,21,55) and a custom DMI. Renko Chart patterns come from Japan, and they apparently mean 'brick'. They are a cousin of the Heikin Ashi candlestick patterns, using weighted calculations of the OHLC (open, high, low, close) but without the time. Renko candlesticks are now well know but there are sections of the trading community that strongly believe in them. The candlesticks are built using price only, rather than time and volume. This design helps filter out minor price movements to make it easier for traders to focuso on the important trends. Renko charts are not for the day trader, they are really suitable for longer term trend traders that have patience and are waiting for the right types of setups. Each bar represents a set change in price, for example I have set BTC at $50 USD. Renko can be used to add confluence to other indicators and enter into less risky trend trades. The Renko chart has clearly bearish since the 9th of November, with BTC breaking below the long held resistance line at 6484 and rapidly dropping to 3900 before finally bouncing off 3300's. This has clearly been rejected on the 17th of December when we moved from 3382 to 3938 in two days with a forecasted target of 4416 representing the next area of resistance. I conservative trader would wait for a line of resistance to be broken, and then enter the trade with more confidence, so if 4100 area Moving Averages, are widely used and one of the most important technical indicators. There are two commonly used MAs, SMA and EMA. SMA (Simple MA) simply takes adds up the closing price over a given period say, 5 days, and divides that number by the number of periods. Eg, 10,12,14,16,18 = 70/5 = 14. The EMA (Exponential) then weights those numbers to place greater significance on the more recent price data points. I use the EMA as it tends to provide a more relevant indicator of recent/current and therefore possible future price actions. I use 5 EMA's on this chart, based on Fibonacci numbers (9,15,21,55,200). The EMA's have been clearly bullish since the 9th of November, with a good spread between the difference EMA, until the 9,15 and touch the candlestick bodies early in December. They then continued down, although more weakly then the previous move until we hit the 3300 level of resistance. With little price movement and contracting price bands the EMA were gradually leveling off. Then on the 17-19th we have seen the price clearly cross the 9,15 and 21 day EMA with the 55EMA in ear shot. The 200 EMA is at 5200, so we are still 1000+ clear of that target. THE DMI (Directional Movement Index/Indicator) measures the MA of a price change over a given period of time, 15 days in my case. The DMI is popular with trend traders because it provides clarity on the strength and direction of a trend. There are three lines, the +DMI or +DI in green, the -DMI or -DI which is in the red, and the ADX which is an weighted average of the two that tells up are we trending down/up. Basically when the green crosses over the red, and also the yellow, with conviction we have a strong bullish trend in play. Vice versa. The line on the top, is referred to as the 'dominate DMI'. The long the the MA has remained in a tight price band, the more likely an outbreak will be substantial. The DMI presented a very clear signal from since the crossover on the 7th of November to it's peak in divergence on the 24th of November. The -DMI and the ADX were clearly trending bearish. What could be interpreted a false bounce/price reversal occurred from the crossover bullish on the 25th of November to the bearish cross over on the 3rd of December. The bearish trend continued until the 7th of November then we started to see some divergence between price (that continued to drop) and the -DMI that weakened in strength. This was a signal that the strength of the bull trend was weakening. Since the 17th of December we have seen both the -DMI and the ADX weaken rapidly, finally crossing the +DMI on the 19th of December. This is set up represents a low risk entry, as the -DMI has managed to go from below the 25 level, confidently cross the -DMI/ADX and also the price has broken a major S&R level.
BITFINEX:BTCUSDLong
by CarbiArbittrage
BTCUSD 3-6 Months pricetargetHello, What goes up, needs to come down aswell... After breaking the 6K level last week Bitcoin is looking for a solid support and new liquidity. An expected breakdown based on my previous analysis on the BTCUSD daily (see below). What I expect during the coming weeks to come: Exponential sell-off(s); This is needed in order to form a bottom (yellow bars) This will drive down the price heavily and drive up (DMI-) This idea supports the formation and continuation of the new ADX 'trend'. Support and price target @ 200weekly MA: 3 000$ Im looking forward to your feedback, Best, Bavo
BITFINEX:BTCUSDShort
by Bavo_DB
20
BTC USDT BINANCE Quick UpdateAfter experiencing a good sell off over the last few days BTC is at the bottom region of it's low volatility channel attempting to rally and reclaim 6400. With several indicators pointing towards an upward momentum coming to the table we are looking to break 6400 and hold above that before going sideways. There is still massive pressure to keep the price suppressed on BTC, lots of sellers holding orders above our heads keeping us in this channel. That is okay. We are in a great position for BTC to keep going sideways where it's at. Lets look towards a push to hold 6400 and watch how the market reacts as the selling orders try to drops us back down. With the potential breakout on the C.M.F and the D.M.I showing a phase of DMI + increase emerging we are looking ripe for some decent price action.
Long
by Altcoin_Ninjas
XRP/USD - WILL WE BE RICH?XRP broke out of the descending wedge pattern, ran up to the .236 Fib level and pulled back to retest previous resistance as support. However it did so on very low volume, so the breakout was extremely unimpressive nor vitally important. If we maintain this level however, we have still formed a higher low, so I've plotted a potential new ascending trend line. We'll see if this holds and what larger dominant pattern emerges from here. XRP is one of the most exciting assets to trade right now, more so than Bitcoin or ETH potentially. In my eyes, the dominant narrative is this: Bitcoin is destined to win, so if you're a believer then you're bullish bias is overpowering and you're safe to go long from almost anywhere as long as your time horizon is long enough. Ethereum is doomed to failure, so you're fairly safe to short from any level as long as your time horizon is long enough. However Ripple, with all it's potential banking implications and far-reaching network of influence and potential, is one coin that could make us kings or beggars. There's so much disagreement on it fundamentally, that it makes it a fascinating crypto to speculate on. We'll be watching this one extremely closely. This chart is still neutral, leaning bearish. I say this because of the following: DMI is still bearish, with a rise in the strength of the trend. Kumo cloud turning to the downside. Stochastic descending from overbought level, RSI potentially moving down through the 50% level. There are bullish aspects to this chart. There does seem to be a turn in the DI-, RSI might hold the 50% level, there does appear to be a potential double bottom formation, and recent price action as far as volume is slightly more bullish than bearish. Eyes glued to the charts people, eyes glued.
BITFINEX:XRPUSDLong
by CrackingCryptocurrency
1
ETH/USD - NEW PATTERN CONFIRMED!The symmetrical triangle pattern is holding. We've had to readjust it several times over the past week to maintain it's levels, however it hasn't made a break that would cause us to question the current range. As I've stated above, range-bound assets are difficult to trade. Easy to scalp, difficult to trade if you're time frame is longer then a few hours. Bullish and bearish momentum are battling much more aggressively here on ETH than on BTC, we can look at DMI to confirm that. They keep swapping positions to the dominant. Unfortunately, ADX keeps trailing lower and lower which confirms our lowered volatility. Low volatility is a good place on an asset to enter, however you have to take your bias into account either bullish or bearish. If you're correct in your assumption, then you got in at the best possible price. If you're wrong then price goes against you and it generally goes fairly quickly from low to high volatility. Everyone's excitement is growing the longer the charts remain boring, as paradoxical as that may sound. As volatility decreases, experienced traders know what follows, which is often quite violent, ie. profitable. Neutral chart, however it won't be that way for every long.
COINBASE:ETHUSD
by CrackingCryptocurrency
BITCOIN/USD - DESCENDING WEDGE HOLDS!The descending wedge pattern is still holding. If you had set buy orders at the bottom trend line, merely extending the trend line from the last support into the future, you would be a very happy turtle right now. Bullish volume is still struggling to push the price upwards, and at the current moment volume is falling off. This is indicative of a lack of faith in Bitcon's bullish movement at this moment in time. Anything can change, but that is the state of volume at the moment. The overall trend is still bearish, and recent price action confirms this both via candlesticks and volume. The bearish engulfing candle that we see plotted three bars back is quite important, the amount of volume that candle was able to command relative to recent price action lets us know there are plenty of sellers in the market who are still quite hot to trot to sell and short their positions. The bulls did step in as predicted at the opportune time, however as we've discussed ad nauseum important levels only tell us WHERE the bulls might step in (vica versa with the bears). It doesn't tell us whether or not they will be successful. We need volume to confirm movements. Right now, volume is not confirming this bullish movement. You can see that the area where price found support was not only the ascending trend line, forming still a pattern of higher lows, but it was also a few satoshis short of the 0.236 Fibonacci retracement on the current descending wedge pattern from true high to true low. These are important levels for you to find on your chart when you're plotting out your plan of action. Numbers matter, and observation is required to see how successful a movement is going to be. Our smoothed Stochastic is signaling that Bitcoin is oversold, and our RSI shows no divergence at the moment. DMI is still negative, indicating that bearish momentum is still more powerful than bullish momentum, and volume confirms this. Price also seems to be stalling out, forming a gravestone doji that reversed at the next Fib level, the .382. If you're predicting a pullback from here, a Fib measurement puts out .618 entry position at 6473.91. Possible scalping targets to the upside could be 6500 and 6550. However the risk to reward ratio here is not worth it, in my opinion. Don't feel the need to trade, I would like to see more bullish volume to come in, and then you could feel more confident taking a long position all the way to the upside of this descending wedge pattern and then re-evaluating. I will say that we also completed our TD Countdown, with a perfected 13 count which per TD Strategy gives us a buying option. Something to keep in mind. Bullish factors - bottom of current trend line, completed 13 countdown, oversold stochastic, reversing RSI. Bearish factors - dominant trend, DMI bearish w/ weak trend, volume, candlesticks.
COINBASE:BTCUSD
by CrackingCryptocurrency
STORJ/BTC - 30% PROFIT POTENTIAL!STORJ has formed what could nearly be an ascending triangle, with a series of higher lows and nearly equidistant highs with a slight variation to the downside. Now is not the time to buy into STORJ, unless volume really cuts loose here and we break to the upside out of this pattern. I don't see that happening now, I feel it's more likely, even with this impressive bullish candle that we pullback from here to gather even more momentum. You can just look at the period of consolidation, which generally measures to the size of the breakout. We can see, the longer the consolidation, the longer and more sustained the bullish movement is. There was very little consolidation for this current move, therefore it's destined to pullback in my eyes. You can see we've ranged from the .618 to the .236 measuring the true high to the true low on this current pattern. I'm quite excited with this chart, I think this is a good one. DMI negative momentum continues to fall, positive continues to grow and the trend is strengthening. The range is contracting, which will lead to a volatile spike, our stochastic is nearing oversold levels again. RSI does not confirm this, but it's the only indication we have that's slightly bearish. Recent price action and volume also strengthen the bullish case. Potential targets upon the breakout are charted as our previous resistance levels, and from current price (which is higher then what our buy in will be) to the final target is 30% potential for profits. Patience, and choose your entrance wisely.
Long
by CrackingCryptocurrency
A short term ideaThis is what I see. The ADX line shows us the BTC is in accumulation phase and also it shows the past 23 days of BTC moves was not a Bull trend the ADX didn't go higher than 25%, Thats very bearish. Currently price consolidates in a rising wedge which is made between uptrend line and the 25% level line of fan, this is also bearish. At the end of chart we have 3 Doji, one green and next of it is the yesterday's red Doji candle and today's candle which is not closed yet but if it close as a Doji then it is very bearish too. They can be a Bearish Tristar pattern or if we don't consider the first one as a Doji (it is a little taller than others) then the 2 other can make 2 Doji in row which is bearish too. I think today we will know which way BTC will go, up or down. In my opinion in next 4-5 days BTC will go to 6000-6200 region or it can go lower, then the trend will change to a upward trend. This is very good for Bitcoin, I really like to see it oversold on daily chart, it can be an excellent rocket fuel for Bitcoin. Closer look of rising wedge:
by nDman_sk
#FibonacciFriday celebrates with a bearish sentiment in BTCUSDWith price finding early selling interest at a low Fibonacci retracement level ratio and the red negative directional index line not crossing down through the positive directional index line, look for selling interest to remain here with the previous low as a target for a test of support once again. Despite the latest move up recently, the bears maintain control. Not enough bullish signals for me to go long just yet. Happy trading!
BITFINEX:BTCUSD
by CryptoMarket360
Wheat, Soybeans, and CornWhy Wheat and why now. What about Soybeans and Corn. Looking across the Ags, it seems that Wheat is enjoying the most upside. Why is this. In keeping with my focus on the DMI and ADX, I think you’d have start by looking at the monthly chart of the 3. One of the key tenants of DMI/ADX is that best trades seem to originate when the ADX is below 20 for an extended period of time. And, for Wheat, that has been since June of 2013. Since then, it has moved between a couple of lines and for the most part, remaining below the 13 period EMA of the high. As an aside, in my previous articles, I used EMA’s on the close of price but have moved to a 13EMA on high, 26EMA on low and 20EMA on close with the intent to use them as a channel for pullbacks based of ADX action. June of last year, the downtrend line was sharply broken but before that, the DMI made a significant move when the +/-DI swapped. Although this had happened several time during the past 4 years, what eventually became important is that the low of this candle was never broken while the high was continually tested and broken with the last time starting the recent uptrend. Also, note that during this time that the +DMI continued to make higher highs will not making lower lows. With the ADX moving above 20 in May of this year, a strong signal was given that the market was ready to move up. Now, consider the same discussion for ]Soybeans : Notice the size of the candle that caused the last swap. I’ve included a possible consolidation pattern. And for Corn : With Corn the interesting thing on recent action is that the DI’s changed dominance but did so where the swap was to -DI but with a green candle. I don’t see this too often but seems to give mixed signals.
OANDA:WHEATUSD
by mxb1961
Trading the DMI with ADX, TSI and EMA (WHEATUSD) PullbacksSo far, I’ve focused on how to get into the market based on the DMI swap in dominance between the +DI and -DI. Once you’re in or if you missed the original entry, how can you get into a trend while minimizing your risk. As I’ve noted before, I’ve not been able to successfully trade on a regular basis but my hope is to use everything I’m documenting here to change that. In one of the links that I shared in my first article is a PDF that has some really good stuff on using the PDF to trade breakouts. In it, there is a section on how to trade pullbacks within a trend using a 20 period EMA. In my charts, I use a combination of the 13 and 26 period EMA to sort of do the same thing (I use a range between the two vs. just one EMA). Full credit for the strategy is given in the PDF and the basics of it are outlined as follows: 1. The ADX must me moving up and above 20 2. Look for a price retracement to the 20 period EMA. It goes on to note that “usually the price retracement will be accompanied by a turndown in the ADX” 3. When price touches the 20 period EMA (in my case, when it enters the range or touches the 26 period EMA), “put a BUY STOP above the high of the previous bar” 4. Once filled, enter a protective stop at the newly formed swing low 5. If stopped out, re-enter the trade by placing a new BUY STOP at the original entry price 6. After a successful trade, the ADX must once again turn up above 20 before another retrace The PDF walks through this strategy as outlined above along with providing some examples. However, the examples are based on the same time frame as the original entry. I’d like to explore and propose that in a strong trend at the daily level, the 4 hour chart will provide a short term strategy. By applying the same concept to the 4 hour chart as outlined above then you may be able to find points that either provide opportunities to enter into an existing trend, or add to positions you may already have within the trend. As the 4 hour chart begins to show weakness and a breakdown below the 26 EMA, it’s possible this is an indication that the daily chart will now cycle through the same steps as noted above which would provide an opportunity take profit on existing positions while waiting for the next setup to enter with the trend on the daily chart. I’ve hi-lited areas on the 4 hour chart for WHEATUSD that fit into this strategy with the current up trend on the daily chart that started recently. Note, that the last area in yellow appears to be breaking down below the 26 EMA signaling that the daily chart may begin to cycle through it's own pullback.
OANDA:WHEATUSD
by mxb1961
5
Trading the DMI with ADX, TSI and EMA (BTCUSD)Continuing with using the ADX/DMI on a daily chart to trigger a trade with the 4 hour chart to refine the entry, I’ve marked up the recent BTCUSD action similar to the wheat chart in previous article. As you can see from the daily chart, price dropped on the 4th causing the DI’s to swap dominance on the DMI. With the ADX still above 25, this could be viewed as a good signal that a real change is occurring. On the 4hr chart, I’ve boxed out the day for the candle that caused the change and placed some entry targets for a possible retrace to enter. Again, as I noted at the end of the last article, the Wilder strategy would call for the sell to be placed at or below the extreme of the day of the change. However, this does open up the trade to more risk. By tracking the day and subsequent action on the 4 hr chart, it’s possible to reduce the risk by placing a stop order in the 25-75% range with a stop just above the high of the day. In this case, it would have worked however, there are cases which I’ll review next where the trade would have been missed.
BITFINEX:BTCUSD
by mxb1961
Trading the DMI with ADX, TSI and EMA (WHEATUSD) cont.Setting up a trade based on daily signal using 4 hour chart for timing. In this scenario, the daily chart had its ADX below 20 since July 3rd. When trading with DMI/ADX, periods of breakout after the ADX has been below 20 for at least 7-10 periods can provide good results. In this case, the 4 hour chart had dropped below 20 for an extended period too. On July 17th , price moved up which caused the +DI to cross up over the -DI. Based on Wilder's strategy, you would place a buy stop above the high of the day (either the high or a number greater than it). With this strategy, you may consider the stop at a point below the low for the same day. In cases where the daily range is small, then placing orders in this way may not cause too much of a draw down. However, in case where the daily range is large, the risk is much higher though there are cases where it's just the way it works out (recent ngas activity that I'll use in an example in a future article). Alternatively, you could choose to place the stop at something like a 75% retrace of the daily candle when placing the buy stop at the high of the day. Another option is to place your buy order as a limit order somewhere in the 25-75% pullback of the daily range that caused the DMI to swap . On the 4hr chart, marks the day that daily DMI swapped dominance while shows the 25/50/75% breakdown of this price range. While this strategy can reduce the risk of having a larger draw down, it also introduces the risk of missing a trade. I'll review more examples of both of these scenarios in next article.
OANDA:WHEATUSD
by mxb1961
Trading the DMI with ADX, TSI and EMA (WHEATUSD)In my first article, I provided a summary of the tools I’m using plus links to some good material that gives more in-depth details of each. As I go through each concept, I’ll refer to the 3 time frames that I will use in determining a trade. • Weekly: to get the overall bias of the market • Daily: to identify a day to take a trade or to setup a trade • 4 hour: to identify the timing or refine the timing of the trade My goal is to trade a small set of markets across various types which will include E-Mini contracts of Wheat and Corn and E-Micro contracts of Euro, Aussie$, and Gold. I’ve tried to trade crude oil (wti) options with mixed success but won’t actually outline trades but use it in the examples. For the E-Mini’s, I’ll limit my initial entry to 1 contract while the for the E-Micro’s (except Gold), I’ll up limit to 2 contracts. My main goal now is to make more money than I lose to remain in market so that I can continue my education in trading. In this article, I’ll review one of the primary aspects of the DMI as outlined by Wilder and that is the equilibrium point of a market. In his book, on page 45, he states that “Good directional movement is not simply straight up or straight down movement. It is also good up and down movement in excess of the equilibrium point. This, in effect, is what the ADX measures. The equilibrium point is reached when the +DI equals -DI.” More detail can be found in his book and various online articles. In the example of WHEATUSD (I trade e-mini wheat but use WHEATUSD for analysis as I can get near real-time data feed on TV without additional cost), I’ve noted 3 times since April of this year that the market has been at an equilibrium point on the daily chart (A, B, and C picked to mark the spot but not to imply any type of wave stuff). In the first 2 cases, the ADX was above 20 while in the 3rd, the ADX was below 20 at the time of the cross. General speaking, when the ADX is declining and is at 25, it is best to be cautious when the DI’s cross. However, when the ADX drops below 20, it’s best not to trade but to wait for some type of pattern to evolve and trade the breakout. I’ll go through examples of this in future articles. For now, I’ll focus on the 3 times where the market reached equilibrium. In his book. Wilder notes that the day this happens, it is an important date to note (on the daily chart but translates into the period of chart you’re using) as it can prove to be significant in the future too. On page 47 of his book, he reviews a key concept in his systems called the Extreme Point Rule and this is either the high or low made on the day. Depending on if you’re long, you would use the low as the stop and if you were short, you’d use the high as the stop. If not in the market, you could use this point to enter the market by placing a ‘stop’ order at this point. In reviewing these three lines, from a hindsight perspective, it’s obvious now that the markets moved in the direction you wanted but in case ‘B’ only after a considerable drawdown. And, in ‘A’ and ‘B’, potentially the same depending on your appetite for drawdowns. There are cases where the market does continue quickly in the direction of the cross but there are also times that it doesn’t immediately. This is the area I’m studying now trying to discover what conditions lead to one vs. the other. Looking at these three cases, another strategy to think about is that of placing the order at a 25-50% pullback level into the candle that caused the market equilibrium with a stop just below/above the extreme of the same day. In my next article, I’ll focus in on the markets noted above and review the daily charts YTD to see how this strategy would have played out.
OANDA:WHEATUSD
by mxb1961
1
Trading the DMI with ADX, TIS and EMAI’m not a successful trader. I was fortunate (?) to have a father introduce me to trading futures when I was ~12 in the early/mid 70’s (he created a study guide and sat me and my 2 older sisters down at the kitchen table to review it weekly). I was ‘successful’ in the mid/late 80’s but that too went away as did the desire, time and money to continue. 4 years ago I decided to pick it up again but to-date, have not met with success. Maybe my story is typical or atypical, you can decide for yourself. As you can tell from my past posts, I’ve tried/experimented with a lot of different strategies and ideas. As of today (this week as I write), I’ve decided to commit myself to a simple strategy of using the DMI with ADX, TSI, and a trilogy of EMA’s (that is an accumulate of many different things I've learned in the past 4 years). The two books (trading related) that I focus on are listed here: Welles Wilder Book Elder’s Book Details runs amuck on the web regarding the DMI and ADX but these (especially the first link on trading breakouts) I’ve found to be more beneficial. Various links for ADX: Trading Breakouts (you can download the pdf from this site too) ADX Breakouts What is my current configuration : EMA on price at 9/13/26 period TSI: 25/13/7 (the 25 & 13 are default on TV but I use the 7 on trigger DMI/ADX: 14/14 these are defaults as specified by Wilder though you ‘ll see experiments on the web with a lot of different setups. Personally, I try to use the default as Wilder has laid out and not try to optimize them. I use the same configurations on all time frames that I track (weekly, daily, and 4 hour) As you review the slides on the breakout strategy from above, it walks through a scenario of using a 20 period EMA in conjunction with DMI/ADX. I’ve chosen to use the 13 and 26 as a boundary to achieve the same concept. On pg. 48 of his book, Wilder notes: “I know that for many, the Directional Movement concept and its implications have not been easy to comprehend; however, those who pursue it will be rewarded for their effort.” No matter how many times I’ve dropped using the ADX, I’ve always held on to this statement and have come back to it to determine what I’ve missing or haven’t gotten. As I said, I’m not a successful trader today, but my goal is to work to become one. In the opening to his book, Elder notes: “You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody. This is the life of a successful trader”. Then, in the next 250 pages, dispels myths and such in addition to working through all sorts of tools to achieve this goal. So, why do I feel I can achieve this goal? Well, the 3rd non-trading book I’m reading gives me this hope: Ecclesiastes 9:11 “I have seen something else under the sun: The race is not to the swift or the battle to the strong, nor does food come to the wise or wealth to the brilliant or favor to the learned; but time and chance happen to them all.” The substance of hope and the desire to be ready for your time when it comes. In following posts, I’ll work through examples of how I try to use these indicators (primarily the DMI/ADX).
BITFINEX:BTCUSD
by mxb1961
Ride the trend: IOTX-BTC Uptrend with volume What do I see? I see the uptrend shows power, it includes enough volume and it just broke the local resistance of the previous upswing, aiming for a new higher high. DMI indicators show that ADX has crossed the -DI line, and MACD is going up. It is a good buy above 0.00000566. RSI shows it is bullish and not yet overbought. The EMA’s are crossing. All the ingredients for a good trend upward. The target will be monitored, but I expect the previous swing high is possible. Risk Reward Ratio: Entry level: 0.000000567 - 0.0000058 profit target 1: 0.00000627 Stop Loss: 0.0000055 R/R ratio: profit target 1: 1:1.2 I did not enter yet, I have to be patient for a pullback. When zooming in on a shorter timeframe, we see that RSI is pretty overbought, and I have places my order a bit above +1 ATR. I'm not sure we touch it, and I'm a bit too afraid we won't get to the EMA, because the trend is strong. It is currently at +3 ATR on the 10m timeframe, so my order around +1 ATR should be picked in a short timeframe pullback. It's place around 0.000057. Question: Do you like this trade idea? Please give it a thumbs up! I would love to know if it was useful for you! If you can do so, I am thanking you in advance!
Long
by Tornado_Trading
2
SIACOIN CRYPTO STRATEGYSiacoin is a cryptocurrency that is based on sharing hard drive space. In essence, Siacoin provides new opportunities for everyone to deposit files much like Dropbox can store files (video, images, and documents) on the SIA network. The advantages of Siacoin are that it uses a decentralized user-contributed sharing economy where you can essentially cut the cost of storing files online. So, to purchase storage capacity, you can just use Siacoin tokens, and you can share your unused hard drive space. Cryptocurrency Siacoin is currently the 34th most valuable cryptocurrency with more than $750 million in market capital. Current market Siacoin price is a steal at $0.021 per coin value. Tradingview Indicator DMI includes ADX The ADX indicator doesn’t tell us whether the market is going up or down, it only measures the strength of the trend. To determine whether the trend is up or down we’re going to use the Plus Directional Index (+DI) and the Minus Directional Index (-DI). Step #1: The ADX indicator needs to be higher than 30. The first rule needs the strength trend indicator to show a reading greater than 30. This is the first signal that we’re about to enter into a trending period and, it is a useful information because we don’t want to enter into a market that’s not in a trend condition. The ADX indicator will be raising in a strong bullish trend and the higher it moves the stronger the trend becomes. Step #2: The DI indicator needs to show the +DI line above the –DI line. The directional movement indicator gives us the direction of the Siacoin trend. The blue line is the positive DI, while the yellow line is the negative DI. When the +DI line is above the –DI line that’s a sign of a bullish trend. When the +DI line holds above the –DI and if they are also really spread apart, it signals the presence of a strong bullish trend. So, the reading of the DI indicator also matters, because the higher the +DI line is, the stronger the trend will be. Basically, the strength of the trend is checked twice, first with the ADX indicator and then secondly, with the DMI indicator. Step #3: How to Buy Siacoin: Buy at the opening of the next candle once the two trading conditions are met. A buy stop is placed at the opening of the next candle after the first two conditions are satisfied. Most often when the ADX indicator shows a reading above the 30 level, the directional index will already show a positive trend, so we need to get ready to buy Siacoin straightaway. Step #4: Place protective Stop Loss below the most recent swing low The protective stop loss should be placed below the most recent swing low point. If you’re having problems identifying swing market low points simply check when the ADX indicator bottomed. Usually, the ADX indicator offers a much clearer view of the market swing points. Step #5: Take Profit when the +DI line crosses below the –DI line When the DMI indicator crosses in the opposite direction, we know the trend is turning bearish and we want to take profits on our Siacoin trade. The DMI indicator is a great tool to be used for profitable trading because it provides you with fantastic exit points. I offered 3 different exit points. 1st 1.5 to 1 risk ratio, 2nd 10 candle new low, 3rd +D1 cross below -D1
BITTREX:SCUSDLong
by Tradingstrategyguides
1
Reference Chart for 3 Apex variants, Bolli's, DMI, and VPVR This chart shows 3 variant apex points. HOW TO USE THIS CHART: A. Triangles 1, 2, and 3 can be used to identify potential support and resistance levels. B. Bolli's serve as good reference point to plot feasibility of intra, day or swing targets, up or down, within 1d ATR. Is your target within these ranges? Confirm logic before you 100x from price at the edge of upper or lower bands. C. Volume Profile Visible Range on far right to show price where majority of market is trading, and short or long interest at each level. Note VPVR will only show volume of positions on visible candles . D.Use DMI to judge strength of up or downward momentum based on -Di or Di . Di (- or +) above value of 25 is considered trending. E. ADX is blue line within DMI, and can be used to confirm trend strength identified with Di. Note: ADX measures the strength of the trend and tends to go down before reversal. It measures the strength of the CURRENT trend [i.e. ADX at 50 can confirm strength of down or up move. Invest in yourself, do your homework. www.tradingview.com(DMI) Don't be fooled in to thinking that money only flows if you can hit the tops or the bottoms. Trade the range and secure profit on every run up or down. THE MARKET WILL NEVER RUN OUT OF ENTRIES. Appreciate the risk.
BITFINEX:BTCUSD
by iSovereign
2