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Key levels and why, then how to spot themI've written several articles around various educational topics here on @TradingView all of which have their individual application and use case. This latest post will go into how you can identify key value areas, or what I like to call "Auction areas". In essence these are areas or zones where Dumb money becomes active, often at highs or lows & usually in the wrong general direction. You only have to look as far as this guy and nearly 2 million followers - buying the ATH's of Bitcoin last year. In December 2020 I wrote an article on Bitcoin here & why it was starting to show signs of becoming institutionalised. And slowly set the path as to why we are then likely to see "Value areas" being formed. In Feb 2021 I followed this up with the identification of a value area. As you can see; this is how powerful these levels become These levels are only part of the bigger picture - but you will see how and why they are relevant, how they can be used to find both highs and lows - as well as giving a larger picture bias on the general direction of the move. ================================================================================== Now you have a little context. To understand why they work, you need to appreciate, what they are - As I mentioned above, these are zones where Dumb money get excited! It's as simple as that. Many indicators are designed and shared to mask true market cycles; people will spend years trying to find the secret sauce. However, things like Bollinger Bands, MACD's are only fuelling the dumb money machine. Take Moving averages for an example - if we have an aggressive uptrend, you should expect a sloping moving average. With a few buttons and presses in the settings, you can edit a moving average to fit the chart. So strip it all back. What you are looking for is, areas of consolidation - these areas are indecision zones where buyers and sellers are actively seeking value. These levels create the foundation of the value area range. This can then be used alongside liquidity pockets and used to enter or exit trades. Click this image below and see the levels get tagged, this is due to the collection of Dumb money stops & entries, followed by a reversal into the lower liquidity area. Ok so how are they identified? Well, first of all you have consolidations; these tightening ranges of price will highlight the auction has began, we now have both buyers and sellers active. As you can see in this chart above; we have two large areas to the upside of untapped liquidity... Zoom in and you will see heavier zones whereby volume was heavy, but price hardly moved - this is a hint towards liquidity sitting there. If you apply a simple tool like "Fixed range volume" you will see the profiles are concentrated around these levels; hence acting like a magnet to price. ----------------------------------------------------------------- A great example of this was to use the levels created, in conjunction with Fibonacci extension levels to spot a potential zone for the upside (into unchartered territory) of Bitcoin's new ATH. This was clear as early as August, we would tag the old liquidity levels and plummet back below 40k very quickly. The levels are useful, especially when combing with other techniques such as Elliott, but when you apply Fib's and can spot key extension levels; it's a lot more likely to be pulled towards such levels if there is a consolidation cluster. This is merely "Dumb Money" value areas being bought and sold. Optimal for institutional players, or as Richard Wyckoff called them "Composite Man". Looking at COT data and knowing the levels - meant we were 100% less likely to see $135,000 in December last year; CM was selling into the retail crowd. ============================================ So now you can see areas of interest, these levels are permanently set - although they become weaker over time, they still represent value for both buyers and sellers and are likely to become support and resistance at later points in time. There are several strategies and methods to use this knowledge, some of which I will post in later posts. But I would advise you go away and try and spot some of these levels on other charts. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSDEducation
by Mayfair_Ventures
10
Lessons for the year and into 2022Over the last year I have spent a lot of time on @TradingView writing up educational content, I have tried to apply drawings to my charts to express some lessons in simple yet easy to follow and understand walkthroughs. Here's a chronology regardless of your experience and level. Let's start with Psychology - this is the life and soul of the market, if humans where not so predictable then we would have a completely different looking chart. Humans spot patterns - even when they are not there. We try and assume, we get greedy, fearful and often just outright stupid. Entering trades at wrong times, listening to fake guru's and not doing the work ourselves. When you understand the emotional aspect of trading, your already 50% of the way to becoming a successful trader! In this post (click the images for each individual post) - you will see how the basic emotions work at various aspects of the chart. In a more simplistic form I broke the market phases down in relation to the post above, this time using the Simpsons as the best way to let traders relate to such phases; Homer is brilliant! Again - once you understand some of the basic psychology you can start to create a framework around investing, it will help build a plan. In this next post I wrote about the reasons why people get into crypto - the thrill of the ride, the desire to make it. Once you got a feel for what it is your looking to do and you are wanting to play in the crypto sphere - here's a post that will help you on assessing an alt coin, the process of going through your own due diligence rather than listening to a youtube guru. A lot of what you need to know when searching for the next big thing, is already written in the business itself - this will include everything from the founders, the plan, money raised and so on. Ok so let's step over to some of the technical aspects of trading; Here's a post on the simple trendline - for you experienced traders jump this and the next Moving average post. From trendlines to Moving Averages; These kinds of tools coupled with some basic off the shelf indicators will get you going on your your journey - but you have to remember over 70% of retail traders lose money. There's even an industry quote that states 90% of new traders lose 90% of their account in 90 days. When everyone is using the same Moving averages, MACD and RSI - all it does is lends itself to the type of emotional analysis mentioned in the psychology section. So trade carefully. ALWAYS deploy proper risk management and do your own due diligence. Here's the basic on using the MACD if you do want to use it along with the 50 and 200 Moving Averages ;-) All new traders want to buy the dip! But how; well here's a little advice on that too. This is where it get's interesting; Going back over 100 years there was a cluster of hyper intelligent traders, these techniques are still widely used today and just as relevant in crypto as they where for commodities and stocks when they where first introduced. Here's the introduction; Personally I feel these guys where not technical analysts but emotional analysts - they understood various aspects of why the charts do what they do, why the human mindset drives the target levels, the patterns are created and so on. From here we can cover the technical viewpoint; Here is an intro to Dow theory... Elliott waves; And even Wyckoff; It was this post that many of you know me for - this was the method used in March to call the incoming top for Bitcoins first major move down. However, the greatest tool of all for doing any kind of Technical Analysis is likely to be Fibonacci; A very old technique and amazing to see the levels get tagged each step of the way, this can be applied to various other strategies and techniques. The whole crypto space is filled with rubbish advice, scams and people claiming to make money. The truth is, like every other trading instrument - it's a dog eat dog world and you need to be able to take care of yourself. I wrote this article explaining why common sense is not that common anymore - logic seems to go out of the window when it comes to crypto. So please keep a level head. Life ain't linear - Yes this is a drawing; took AGES!!! I've tried to cover as much useful info for the @TradingView community as possible throughout the year. Here's another couple of posts that you might find interesting; Do you know what is going on, inside the candle? Chart patterns? Even covered the art of the Pivot Point. What don't you know about dark pools? Or the difference in Volume profiles? Or even if your interested in making your own indicators? And to finish with on the technical side- Here's a couple of good books to get you going into 2022! If you haven't followed me throughout the year and seeing this for the first time - here's every swing & supporting logic for the Bitcoin move throughout the year. And to finish with NFT's and the METAVERSE. and this one; Hope you have had a great 2021! 2022 will be even better! Have a great NEW YEAR's eve and see you on the other side!!! Feel free to give me a follow here and comments always welcome! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
BITSTAMP:ETHUSDEducation
by Mayfair_Ventures
22
ETH An example in why retail traders are wrong!Good Morning traders! Today I have a great example of order protection and liquidity building. This is something that I have been speaking about for a long time and this current PA shows it well. The blue boxes show places where large orders have been placed and and initiated moves. See how price returns to retest these areas?! this gives the Banks, Whales and big players a chance to protect orders. Retail traders place orders outside of these areas "support and resistance areas" These orders can easily be seen, and therefore hunted. The highs and lows create areas for the big players to exit the large volume positions as every buy order needs a seller and vice versa. I hope this information has been helpful. As always trade safe. EnvisionEJ
BITSTAMP:ETHUSDEducation
by EnvisionEJ
3
Educational chronology Over the last couple of Months, I have published some educational content here @TradingView and wanted to correlate them into one post as they now cover several pages. Starting with some of the fundamentals and into more of the advanced topics; EACH IMAGE IS A LINK TO THE ACTUAL POSTS Starting with Psychology - one of the most important things to pick up on early. There are some great books on trading psychology, one of the best in my personal experience is Trading In the Zone by Mark Douglas. I expanded on this psychology one - by adding cartoons to break down the stages. As for some good books see this post; ----------------------------------------------------------------------------------------------------------------------------- When starting (many new traders are joining sites such as TradingView) for crypto. So when assessing companies/coins to invest in - it's good to have some depth on the company. Here's a guide on assessing alt coins; Another relevant topic in crypto - as there will be dips! IS how to buy the dips. ----------------------------------------------------------------------------------------------------------------------------- Chart basics Trendlines; Moving Averages; Mixing timeframes on the chart; A little more advanced MACD; Confusion in Indicators; Gann Fans; ------------------------------------------------------------------------------------------------------------------------------------------------------- Emotional analysis - Elliott & Wyckoff Why I called this emotional analysis - is that the way Elliott & Wyckoff could read the situation above the chart price, the fact that human behavior drives markets. Composite man (Wyckoff story) controls the markets based on understanding how humans think. Means this is less technical and more emotional. Elliott Basics; Elliott Level 2; Wyckoff; Wyckoff chart basics; Basics 2; ----------------------------------------------------------------------------------------------------------------------------------------------------------------------- Another topic worth mentioning is COT (Commitment of Traders) a report issued once a week on the large money moves, in simple terms. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------- I know there is a lot here in one post - but I hope it helps going through the basics like this and you can save for reference. This was mainly due to all of these posts being over several pages in my profile. This way it's all accessible. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSDEducation
by Mayfair_Ventures
13
How to be careful from misleading Indicators | XRPUSD reversalAny feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :) Quick glance: In our previous analysis on XRPUSD , we discussed about Ripple losing a massive market cap. Right now, XRPUSD had a massive reversal. It has taken support from the lower Bollinger bands. Market in the last 24hrs The last 24 hours were quite a roller coaster. All major cryptos witnessed a huge selloff including ETH, BTC, DOT and others. Trading volumes also spiked up tremendously. Today’s Trend analysis XRPUSD seems to be having a massive reversal. At the end of the downtrend on the 4H chart, there appeared to be a 'Hammer' formation. However, the patter could not be confirmed as the 2 following candles were red, thereby negating the reversal after the 'Hammer'. Stop losses would have been triggered for traders taking long positions after the hammer. Therefore, it is always crucial to wait for the confirmation candle, even if it eats into some of the potential gains. It hedges against fake-outs! The reversal happened after XRP took support from the lower band of the Bollinger Bands. The volume profile shows the demand zone at $0.8688, which is 40% higher than current levels. Price volatility remained extremely high at approximately 24.53%, with the day's range between $0.5231 — $.6514. Price at the time of publishing: $0.6315 XRP's market cap: $29.04 Billion Out of 11 Oscillator indicators, 9 are neutral,1 is bearish, and 1 is bullish. Out of 15 Moving average indicators, 11 are bearish , 3 are bullish and 1 is neutral . Indicator summary is bearish for XRPUSD in the shorter timeframe. Volumes have spiked up tremendously in the past 24 hours. ---------------------------------------------------------------------------------------- The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :)
BITSTAMP:XRPUSDEducation
by Mudrex
2
How to assess an altcoinWhen doing fundamental analysis into a stock or in this case a coin – you need to appreciate, it is still a company after all. So, your fundamental analysis should include, taking a deep dive into the available information. You might want to review the project use case, the team, and the money the project has raised so far. As you can’t really do technical analysis with limited data available on the charts. Your goal is to reach a conclusion on whether the asset is overvalued or undervalued. At that stage, you can use your insights to inform your trading positions. In other words, have we had a major hype & can a dump be expected? Trading assets as volatile as cryptocurrencies requires some skill. You will need to define a strategy – otherwise, you are Gambling & not trading or investing. As for Technical analysis, some expertise can be inherited from the legacy financial markets. Many new crypto traders use the same technical indicators seen in Forex, stocks, and commodities trading. You often see tools such as the RSI, MACD, and Bollinger Bands which seek to predict market behavior, the issue with this is the lack of data mentioned above. Yet, these technical analysis tools are also extremely popular in the cryptocurrency space. Slightly harder to read a moving average when the price is in a 90-degree move up. With cryptocurrency fundamental analysis, though the approach is similar to that used in legacy markets, you can’t really use tried-and-tested tools to assess crypto assets. To conduct a proper analysis, what we need is to understand where they (the company/Coin) derive value from. ==================================================================================================================================== For you newer traders… “What is fundamental analysis (FA)?” Fundamental analysis (FA) is an approach used by investors and traders to establish the "intrinsic value" of an asset or business or in this case, crypto. By looking at a number of internal and external factors, their main goal is to determine whether said asset or business is overvalued or undervalued. They can then leverage that information to strategically enter or exit positions. The goal of this article is not to dive into the methods of FA as a whole, rather just to highlight where you should begin. ==================================================================================================================================== However, there are problems with crypto fundamental analysis (in the traditional sense) Cryptocurrency networks can't really be assessed through the same lens as traditional businesses. If anything, the more decentralized offerings like Bitcoin (BTC) are closer to commodities. But even with the more centralized cryptocurrencies (such as those issued by organizations), traditional FA indicators can't tell us much. So now we are stuck between a rock and a hard place… A quick step would be to identify strong metrics, these should not really take into account things like Twitter or Facebook followers. It’s so easy these days to buy several thousand followers for social media sites. One method could be; the number of active addresses on a blockchain and see that it has been sharply increasing? For example… Are we seeing Company actors transferring money back and forth to themselves with new addresses each time? This is the level of info you can go down to – we are on the Blockchain after all. A little more TECHNICAL If you want to get a bit more technical – you can look at “On-Chain” metrics in depth. On-chain metrics are those that can be observed by looking at data provided by the blockchain itself. By running a node for the desired Crypto and examining the data, this can be time-consuming and expensive. Particularly if you are only considering the investment, and don't want to waste time or resources on this process. A simple way to do this (in some instances) is to use API-based solutions, plug into exchanges, and see third-party tools such as Binance-research's project reports. Look for info such as; 1) Active Addresses 2) Transaction value 3) Fees – this will give an idea of the demand… Other areas as mentioned above You are looking to ‘invest’ in a tech company, which is the longs and shorts of it. So go and read through the whitepaper. Assess use cases, do they make sense to you? Review the team, do they have experience or have they already raised finance enough to keep the project going – you can now use the chain metrics – to see money flow, you could go and look at the companies register, in the UK all companies are set up under “companies house” this will show shareholders, early account info, company directors. Other factors How about competition in the space? What projects are offering similar solutions, are the other companies further along? Does the company you are looking at, have some kind of USP over their competitors? Supply Mechanisms – Liquidity and volume – Market Cap. These are all things to take into consideration . And Finally - Initial distribution and Tokenomics as a whole A lot of projects have created tokens as a solution looking for a problem. Doge on the other hand created a meme for the market, which is turning into a solution. Understanding the use case, cannot be stressed enough. As such, it's important to determine whether the token has real utility. And, will it have decent adoption? Consider how the funds were initially distributed. Was it via an ICO or IEO, or could users earn it by mining? The whitepaper should outline how much is kept for the founders and team, and how much will be available to investors. If it was mined, you could look to evidence of the asset's creator pre-mining (mining on the network before it's announced). We have a live stream Monday at 3:30 GMT with @Paul_Varcoe 📺 www.tradingview.com 📺 As I said, this is only to give you a starting point - especially for you newer traders. There are several other factors & methods but start here.
Editors' picks
Education
by Mayfair_Ventures
33
The Secret of Successful FEAR INDICATORSThe truth is - Indicators are only what you make them. 9 out of 10 indicators lag. The rest are used by so many people that it creates a type of unconscious bias. And above all else can clog up your chart as above! That's not to say indicators are pointless - far from it, it's more about creating a bias and using indicators or chart patterns as a confirmation instead of guidence in and out of trades. Especially in the COVID era, the markets are not behaving in any form of regular form. In the last 12 months, we have had the virus to deal with, we have had one of the craziest transitions of Presidents, In the UK - Well, Brexit. It doesn't get much crazier than this. Unconscious biases , also known as implicit biases, are the underlying attitudes and stereotypes that people unconsciously attribute to another person or group of people that affect how they understand and engage with a person or group. in trading terms, this is how indicators and groups of people that use specific indicators. Unfortunately, there is no silver bullet when it comes to strategies and indicators. You will find tools that work in some market conditions, and not so well in other circumstances. A lot of information you can get from an indicator is actually in the chart. *as a pure example you can spot things like Imbalances from candles prior to current price action. as per the example. As an institutional investor, it's easy to understand the fear and the bias of retail traders. You only need to look at sentiment from companies like Oanda and IG index - you often find as trends rally 60% of retail positions are Bearish. The reason for this is 75% of retail trading is based on indicators and strategies like breakouts, trend line touches, and moving average crossovers. Measured using Fibonacci levels. Which then makes it easy for the experienced operators to see order blocks and go hunting for stop losses. If you look at simple indicators like RSI - A lot of what it shows can be visualised in the chart itself. Now I don't want to be fully negative to indicators - it's just understanding their value and not fearing the herd. It's not only indicators - patterns can either be complex and you need a mathimatical degree to pin them down to perfection (joke) and they can sometimes be somewhat subjective. Starting points, anchors, measurements etc. Fibonacci - an amazing tool with countless indicators using it in some way shape or form. But a lot of what makes it so accurate is the psychology underpinning the market moves. When you add fibs to charts, or measure using other tools and patterns or indicators - they create the levels based on entries and exits of many people at the same levels. I posted an idea recently on the market mindset (click image for full link)- The idea is that emotions can control the ups and downs of moves based on perfect entries, terrible entries, ideal exits are simple trades you wished you never took, ones that now look obvious looking back. So in short - tools cab be useful. But you should not need to be dependant on them. Especially with market conditions the way they are currently. To summarise - Once you have your bias you shouldn't rely on indicators nor the group chat to execute your trade plan. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSDEducation
by Mayfair_Ventures
6
📚 💰 Descending Triangle in ETHBTC - "Learn More Earn More" 📚 LEARN MORE 💰 EARN MORE With ForecastCity Descending Triangle Definition: An Descending Triangle is a type of triangle chart pattern that occurs when there is a support level and a slope of lower high . It is defined by two lines: . A horizontal support line running through valleys. . A Downtrend line drawn through the peaks. The lower highs indicate more sellers are gradually entering the market and selling pressure increases as price consolidates moving further towards the apex. An Descending Triangle is classified as a continuation chart pattern. If price can break through the support level, that level will now act as a resistance level. Breakouts can also happen in both directions. Statistically, downward breakouts are more likely to occur, but upward ones seem to be more reliable. In most cases, the sellers will win this battle and the price will break out past the support. But Sometimes the support level is too strong, and there is simply not enough selling power to push it through. Therefore you should be ready for movement in EITHER direction. ENTRY: We would set an entry order bellow the support line and above the slope of the lower highs. TARGET: Target is approximately the same distance as the height of the triangle formation. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Education
by ForecastCity
10
Head and Shoulders - "Learn More Earn More" with usInverted Head and Shoulders Definition: A head and shoulders pattern is also a trend reversal formation. It is formed by a Valley (left shoulder), followed by a Lower Valley (head), and then another Higher Valley (right shoulder). A “ Neckline ” is drawn by connecting the highest points of the two Peaks. Neckline resistance does not need to be strictly horizontal. . This illustrates that the downward trend is coming to an end . . When a Head and Shoulders formation is seen in an downtrend, it signifies a major reversal . . The pattern is confirmed once the price breaches the neckline resistance . In this example, we can easily see the head and shoulders pattern. How to Trade the Head and Shoulders Pattern: ENTRY: we put an entry order below the neckline. TARGET: We can also calculate a target by measuring the high point of the head to the neckline. This distance is approximately how far the price will move after it breaks the neckline. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Education
by ForecastCity
25
Head and Shoulders - "Learn More Earn More" with usInverted Head and Shoulders Definition: A head and shoulders pattern is also a trend reversal formation. It is formed by a Valley (left shoulder), followed by a Lower Valley (head), and then another Higher Valley (right shoulder). A “ Neckline ” is drawn by connecting the highest points of the two Peaks. Neckline resistance does not need to be strictly horizontal. . This illustrates that the downward trend is coming to an end . . When a Head and Shoulders formation is seen in an downtrend, it signifies a major reversal . . The pattern is confirmed once the price breaches the neckline resistance . In this example, we can easily see the head and shoulders pattern. How to Trade the Head and Shoulders Pattern: ENTRY: we put an entry order below the neckline. TARGET: We can also calculate a target by measuring the high point of the head to the neckline. This distance is approximately how far the price will move after it breaks the neckline. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Education
by ForecastCity
25
Learning the BARR Top Pattern : Chainlink; is the run over?IF Chainlink does not claim 13$ again soon we may be putting in a bearish retest of a BARR TOP (Bump & Run TOP) Pattern. The pattern is explained below and there are some obvious key area to watch on the LINK/USDT Chart. Note the below image of Bitcoins run to 20000 as a comparison of a successful BARR TOP. The Bump And Run Reversal Top (BARR Top): • Follows strong bull market at steep angle • Initial “bump”, followed by a hook shaped movement reversal • Sell on the retest key diagonal trendline or buy if the pattern fails and reclaims the trendline • GOOD SUCCESS RATE Price has a strong uptrend off in two phases - the bump & the run, first a small increase then recovery occurs, then price increases with massive volume at a very sharp angle. The BARR Signifies a trend change from strong Bull to strong Bear market. Price then makes a sharp peak and comes down breaking the support line the angle of this support line is usually around a 35-50 degree angle. It then throws back and bearish retests off that previous support (this is the entry point), its common for this rejection to be at the 0.618 fibonacci level. Link has already made its sharp peak and has rejected right off the diagnol BARR trendline. Log scale is to be used when identfying pattern. The possible price target is the start of the pattern, BARR Tops usually have strong breakouts but do not always hit price target. Note how in the chart of LINK USDT we are rejecting right off the 0.618 fibonacci level, until price gets back above that LINK may continue to decrease in value. If you enjoyed the idea show your appreciation by giving it a like!! I look foward to hearing your comments.
KRAKEN:LINKUSDEducation
by Worth_The_Ri5k
Surviving The Market When You're Paid In CryptoETH/USD - Coinbase Disclaimer: This is not financial advice and not a good speculative strategy. On the contrary, it's simply a "how to survive" strategy that is still not perfect and changing all the time. However my underlying chart and thinking has largely kept me safe from any MAJOR losses (knock on wood). I also drew this trend line several years ago. This base level trend has stayed in tact so I continue to use it as is. This is an entirely neutral strategy intended to ensure you don't get "Rekt" when you make a full time living paid in a volatile currency. For me, all crypto has always been money. I have paid my rent in crypto, got paid in crypto, used crypto debit cards, and never use a bank outside using credit or loans. Banks are obsolete to me as soon as DEFI based credit is more mature. This is not a perfect model and I'm still learning, making mistakes, and figuring out how to navigate this new financial reality every day. Back Story First a little back story. Since 2013 I have made a part time living on Crypto and since 2015 I have made a full time living paid in crypto. After taking a position at Coinbase doing Operations and Regulatory Compliance in 2015, I quickly began to adapt to this new all crypto life style. I'm now with district0x and have continued this journey even deeper. This required some hard lessons and exciting prospects. I have now been paid in DAI, BTC, ETH, Silver, NFTs, and every now and then other random assets. Volatility is life. 😎 The Nitty Gritty The hard lessons ranged from, how easy it is to lose access to your crypto (Ouch 🤮), the market taking a nose dive right after payday because I forgot to move my money (📈📉), not to mention all the fees and costs associated with open finance and exchange. I quickly developed a significantly conservative outlook on my money management. I learned how to somewhat stabilize my income from volatile shocks in the market but I look at the losses as tuition paid for my education. A tough thing to swallow but so much cheaper than university. 🤷‍♂️ Basically I would live on Credit cards for the month, then cash out my earnings when the market was around the price I was originally paid so I can pay off credit cards. This was by no means perfect but my chart has never changed the entire time I have been in crypto. I mapped out the base level uptrend and ignore all the bubbles. If I'm at the top or above the main trend channel I would cash out my checks and not rely on credit. If the market is on the lower end of the channel I would hang onto my pay. These days if I decide to keep some money in the market I ensure I have about half stable value and half BTC or ETH. This way if the market moves up, I have some and if it dips hard I can grab some more. I also keep an eye on the long and short positions as well as overall volume using the paid indicator VPVR. If I'm paid in the middle of a liquidity gap I would immediate move money to a stable store of value like USDc, my bank account, and sometimes a DEFI app. If I'm in a zone where the liquidity gap is filled in, creating support on the lower half of the channel, I would leave it. I have had the market fall losing a large part of my check but considering the market is in a milti year uptrend on the base level of liquidity, I just hold it until I have my pay back. Not ideal but it's worked for me as long as I'm patient, cautious, and conservative with my decisions. While this is a neutral strategy, I do intend to go long depending on how the market moves but I am going to keep my crypto and stable coins at a 50/50 ratio for now so I can be okay with whatever direction the market moves. Future plans I will be using my stable coins to move into crypto if the market corrects back down to the lower half of the long term trend (Which it likely will). I will slowly scale into ETH and BTC as it hits the high volume zones and if the liquidity gaps fill in. Usually if a gap fills, it becomes a major level of support or resistance so they make good points to scale in with any stable coins you have. I won't scale in until is hits the red line in the center of the uptrend. Then I will use 10-15% below the median range, another 15-25% if it drops to a lower range, 25-50% if it dips lower, and if we have a hard spike down into the lower blue channel, I intend to to go all in. Anything above the base level channel I will likely be selling because "Sell when others are greedy, and buy when others are scared". I will use a similar "scaling out" strategy like my "scaling in" strategy if we see another bubble. Considering I work in the industry I really am not a fan of the bubbles. It makes the networks more expensive, harder to use, and vulnerable to forks and other technical or political issues that makes development more difficult. I look at it like this, if one network inflates beyond usability, I get free money to apply towards another network I intend to also use as load balancing. I also can't wait for more solutions like Cosmos and Polkadot. Multi chain transactions are the future, especially if bitcoin and ethereum are so expensive only businesses can afford to use them. Stay grounded when everyone starts to fly. The moon is a lie and made of cardboard and cheese 🧀📦 Developers are the new rock stars and the Dapps are the future of finance that we all should be using. USEL don't HODL... 😎
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COINBASE:ETHUSDEducation
by bradymckenna
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