Updated
Working towards re-entry, how I'm using EMA and TEMA
This is how I'm using the 21-period EMA (red line) and TradingView's Triple EMA (TEMA) in blue on the 3-day chart (this is the time my GBTC trade takes to 'settle' so keeps me in or out of the trade the longest. I am also viewing volume up/down/trending and the CCI level - both for context.
On the first view, this is drawing out a 21-period EMA (red) using the session High. This is assuming I am already in the trade completely (with some small amount remaining in case another opportunity comes up). When the TEMA (blue) cross the 21-period EMA (red) going down, then I am out. There are obviously other factors to consider such as if we are going parabolic, we might consider 'tightening-up' the timeframe to 1-day to diminish downside risk and exiting in a 1/3 increment. But that is counting our chickens at this point.
On the second view, this is drawing out a 21-period EMA using the session Low. I am assuming at this point I am out of the trade. (Of course, I have been DCA'ing at the 'Local Lows'.) When the TEMA (blue) crosses the EMA (red) going up I should be fully back into the trade. We aren't there yet.
https://s3.tradingview.com/snapshots/9/9RScH0iM.png
Of course I have other trades (ETHE for example) I am in and have a BTC HODL account, a BTC 'swing-trade' account, etc. that I manage separately and in a different way. Hope this helps at least provide a different point of view.
On the first view, this is drawing out a 21-period EMA (red) using the session High. This is assuming I am already in the trade completely (with some small amount remaining in case another opportunity comes up). When the TEMA (blue) cross the 21-period EMA (red) going down, then I am out. There are obviously other factors to consider such as if we are going parabolic, we might consider 'tightening-up' the timeframe to 1-day to diminish downside risk and exiting in a 1/3 increment. But that is counting our chickens at this point.
On the second view, this is drawing out a 21-period EMA using the session Low. I am assuming at this point I am out of the trade. (Of course, I have been DCA'ing at the 'Local Lows'.) When the TEMA (blue) crosses the EMA (red) going up I should be fully back into the trade. We aren't there yet.
https://s3.tradingview.com/snapshots/9/9RScH0iM.png
Of course I have other trades (ETHE for example) I am in and have a BTC HODL account, a BTC 'swing-trade' account, etc. that I manage separately and in a different way. Hope this helps at least provide a different point of view.
Note
Almost there but not quite.Note
In situations where I step to the side and price simply recovers (for example last August), the side effect was that my risk was reduced but no significant profit was realized. For this particular asset I prefer less risk than more risk (even at some cost to avoid risk).Note
We are crossing over at this time. With GBTC down today, adding some position here is appropriate based on longterm patterns.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.