Long
LT Wabi Strategy (6hr intervals)
Based on price/technicals analysis, WABI/USD seems to mostly track with XBT/USD prices, but WABI is much more volatile (higher beta?). Instead of buying BTC with leverage, one can go in and out of WABI. The USD price is just a conversion based on BTC price in USD and the WABI/BTC price.
Trade Signals
1. WABI/USD clearly in an uptrend or in consolidation (ranging). No downtrend/knife-catching
2. Touches at horizontal support but especially near touches of 50-EMA, 200-EMA or 200-SMA
3. Very low RSI (<8)
4. BTC/USD - look for opps after a pull-back/dump (not during)
Green vertical lines in the chart were good entries. Red lines were false signals where trade would have likely been stopped out at a loss or negligible profit or less than BTC's USD performance
Trade Signals
1. WABI/USD clearly in an uptrend or in consolidation (ranging). No downtrend/knife-catching
2. Touches at horizontal support but especially near touches of 50-EMA, 200-EMA or 200-SMA
3. Very low RSI (<8)
4. BTC/USD - look for opps after a pull-back/dump (not during)
Green vertical lines in the chart were good entries. Red lines were false signals where trade would have likely been stopped out at a loss or negligible profit or less than BTC's USD performance
Note
Gold line is XBT/USD, fyi
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.
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.