ICON / BitcoinUpdated ICX/BTC 4H Candle | Trading off Heikin Ashi Candle Strategy
*** Specific Analysis***
ICX is starting to look good. The 1HR shows a few green candles. The 4hr has a red trend change candle then a green bullish candle. I will wait for another green candle to form at the begininng of the next 4hr and enter in position. Keep watching BTC for corrections though, ICX follows BTC trends and dumps when BTC dumps.
Also, check out the past trades and earning potential trading on the Heikin Ashi strategy. You can still earn safely even on a downtrend.
Thank you. Please share your thoughts, , like and star & check out the website below.
***Re-occurring Notes**
I like starting off at the 1hr to see a potential trade brewing up, then move to 4h to enter trade. Other Ashi traders like to buy and sell only on the 1D. It's up to you based on your free time how much you can pay attention to the charts. Usually when 1 Day is green, all time frames underneath are as well. Same goes for Red candles.
STOPLOSS: According to the Heikin Ashi Strategy, Stoploss is set just below the wick of the first bullish candle. When it comes to higher tiemframes, You never have to worry about stoplosses. On the 5min time, I found that stoplosses are triggered often.
STOCH-RSI: PointIing out with the green arrows that Stoch RSI is uptrending in every entry and stars its down trend when correction is ongoing. These other indicators are also beneficial when predicting when price will fall.
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***Heikin Ashi Trading Rules***
ENTRY: wait until the script signals for a green trend change candle(small bodied candle with up & down wicks). you will see a green arrow underneath.
Now waited until the second green candle(wick on top) to form before entering into position. This is confirmation of trend change.
EXIT: Wait for a red trend change candle signal, sell at the next red candle with wick on bottom. If you want to take profits on the first red, it's up to you.
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***Advice***
Using bigger time frames cuts out all the trading noise. For smaller time frames(5min), I found it beneficial to also use Stoch RSI, MACD, Vol, MA Cross indicators to confirm entries so that you're not constantly trading in and out. I would advise against trading on the 5min using Heikin Ashi Strategy, It's just too tedious and time consuming.
Stay Disciplined and you shall be profitable. Don't chase the trades, Let them come to you. If you miss out, there's plenty more opportunities. Wait for the next trend change. This technique can be applied o all Alt coins as well. Keep in mind though that alts tend to follow Bitcoins movements. Patience is key
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***HEIKIN ASHI TECHNIQUE - My thoughts while learning this trading style***
If you would like to learn how to trade off this technique, go to the link below by trading strategy guides. This style makes trading comfortable and relaxing if you trade in the bigger timeframes, 4hr & 1day. For more price action and to gain more satoshi/USD out of the trades, trade in smaller time frames from 5min, 15min, 30min, & 1hr. I will tell you, if you're a busy person in your everyday life, trading on the 5min and 15min is not ideal.
Credit for the Script goes to BOBTARHEEL - tradingview.com/u/BOBTARHEEL/
Script- HOW TO ADD: go to link and add to favorites, then go to indicators and search for HA COLOR CHANGE, add indicator. For alerts, go to alerts and choose HA COLOR CHANGE in the drop down menu.
ICX is starting to look good. The 1HR shows a few green candles. The 4hr has a red trend change candle then a green bullish candle. I will wait for another green candle to form at the begininng of the next 4hr and enter in position. Keep watching BTC for corrections though, ICX follows BTC trends and dumps when BTC dumps.
Also, check out the past trades and earning potential trading on the Heikin Ashi strategy. You can still earn safely even on a downtrend.
Thank you. Please share your thoughts, , like and star & check out the website below.
***Re-occurring Notes**
I like starting off at the 1hr to see a potential trade brewing up, then move to 4h to enter trade. Other Ashi traders like to buy and sell only on the 1D. It's up to you based on your free time how much you can pay attention to the charts. Usually when 1 Day is green, all time frames underneath are as well. Same goes for Red candles.
STOPLOSS: According to the Heikin Ashi Strategy, Stoploss is set just below the wick of the first bullish candle. When it comes to higher tiemframes, You never have to worry about stoplosses. On the 5min time, I found that stoplosses are triggered often.
STOCH-RSI: PointIing out with the green arrows that Stoch RSI is uptrending in every entry and stars its down trend when correction is ongoing. These other indicators are also beneficial when predicting when price will fall.
----------------------------------------------------------------------------------------------------------------------------------------------------------------
***Heikin Ashi Trading Rules***
ENTRY: wait until the script signals for a green trend change candle(small bodied candle with up & down wicks). you will see a green arrow underneath.
Now waited until the second green candle(wick on top) to form before entering into position. This is confirmation of trend change.
EXIT: Wait for a red trend change candle signal, sell at the next red candle with wick on bottom. If you want to take profits on the first red, it's up to you.
----------------------------------------------------------------------------------------------------------------------------------------------------------------
***Advice***
Using bigger time frames cuts out all the trading noise. For smaller time frames(5min), I found it beneficial to also use Stoch RSI, MACD, Vol, MA Cross indicators to confirm entries so that you're not constantly trading in and out. I would advise against trading on the 5min using Heikin Ashi Strategy, It's just too tedious and time consuming.
Stay Disciplined and you shall be profitable. Don't chase the trades, Let them come to you. If you miss out, there's plenty more opportunities. Wait for the next trend change. This technique can be applied o all Alt coins as well. Keep in mind though that alts tend to follow Bitcoins movements. Patience is key
------------------------------------------------------------------------------------------------------------------------------------------------------------------
***HEIKIN ASHI TECHNIQUE - My thoughts while learning this trading style***
If you would like to learn how to trade off this technique, go to the link below by trading strategy guides. This style makes trading comfortable and relaxing if you trade in the bigger timeframes, 4hr & 1day. For more price action and to gain more satoshi/USD out of the trades, trade in smaller time frames from 5min, 15min, 30min, & 1hr. I will tell you, if you're a busy person in your everyday life, trading on the 5min and 15min is not ideal.
Credit for the Script goes to BOBTARHEEL - tradingview.com/u/BOBTARHEEL/
Script- HOW TO ADD: go to link and add to favorites, then go to indicators and search for HA COLOR CHANGE, add indicator. For alerts, go to alerts and choose HA COLOR CHANGE in the drop down menu.
Trade active
As expecting, a 2nd bull candle formed. Entered the trade at 1597 sats with 100% of my position. I didn't set a low ball order on this one but should have . Never know when it will get filled. It's possible if its within that candles price range. Still 1hr and 30mins for the candle to close. let the trade come to you, don't chase it.
Trade closed: stop reached
With BTC correcting, alts are too. Stops hit. Always set stoploss under first bull candle when trading Heikin Ashi Style.Trade active
Well seems if my SL was undercutted. Now I'm still in the trade. I'll take this as a sign that I should stay in haha. I'll see this through and add to it if price drops down to its recent low.Trade active
1.72% up. slow rise on this one. 4hr still looking good. Look at the bull vs. bear fight on the 1hr. a lot of noise but bulls winning. I look at the 1hr for observation but try to only trade on the 4hr - 1day. Staring at the 1hr will have you selling premature like I did with IOTANote
up 4.77% so far on ICX. I call this trade a blessing in disguise. BTC was falling hard earlier and for a while, I didnt follow the Heikin Ashi rules of trend trading and panicked by setting a tight SL. Luckily my SL was jumped and never filled. Now it's doing well. I have 1hr & 4hr trend change alerts set. When the 4hr trend change alerts go off, I'll be looking to sell.Trade closed: target reached
Following Heikin Ashi technique, received a sell signal on the 4hr giving me 3.08% profit in 1day 8hrs. Pretty good. Of course, could of made more had I sold at the top. It's not as easy as you think when you have a high demanding life style. This is why I like Heikin Ashi strategy. I don't have to watch the charts all day. I get alert to sell at the 4hr red candle. I place the order and watch it feel and go about my day.Now, Gut feeling says ICX will go back up today. BTC looking good on a sideways movement. I'll keep my alerts active on the 1hr and 4hr for re-entry
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