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Bitcoin Daily Update (day 308)Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business. Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge Consensio: M MA < S MA < P < bullish L MA Patterns: Phase 7 hyperwave | Parallel channel inside Bear channel Horizontals: S: $3,532 | R: $3,658 & $3,984 Trendline: Bear channel Parabolic SAR: $3,887 Futures Curve: Backwardation with 4.13% spread. Getting more and more bullish by the hour BTCUSDSHORTS: Bull div in the RSI indicates that I was wrong about pulling back to 20,000 support and that short sellers could increase from right here. Funding Rates: Longs receive 0.0413% TD’ Sequential: Price flip Ichimoku Cloud: Still acting as resistance w recent bullish kumo twist Average Directional Index: Getting very close to crossing 20 Price Action: 24h: - | 2w: -4.7% | 1m: -1.5% Bollinger Bands: MA = $3,758 Stochastic Oscillator: Didn’t make a bearish recross yesterday like it was so close to doing, now diverging in bullish manner. Summary: Not much has changed since yesterday except for one key difference which is an increase in the backwardation spread to over 4%. As that the continues to increase the more bullish I become. However remember that backwardation is not a timing mechanism it is simply a way to determine a bullish bias. Since that is the only thing that has changed in my opinion, I would like to talk about is how much I am loving the Ichimoku Cloud with traditional settings. Using the ‘crypto settings’ I almost gave up on it entirely due to it lagging all of my other most important indicators. Over the past month or two I have been following it with traditional settings and now it is absolutely one of my favorite indicators. As a matter of fact it is even rivaling Consensio, and that is something I am still trying to wrap my head around. The last month it has worked wonders on BTC and LTC (as well as others I am sure). LTC broke through a bear trend, confirmed a cup and handle, got a golden cross and rolled the L MA up. Everything was screaming at me to go long, except for the cloud. I decided to wait for a daily close above the cloud to enter. That never happened and it saved me. Similar situation happened with BTC: Consensio went fully bullish but the Cloud disagreed and was right. Furthermore they are very similar and I am starting to think that the rules of Consensio can be applied to the cloud. In bull markets the Tenkan-Sen acts as the S MA, the Kijun-Sen acts as the M MA and the cloud acts as the L MA. In bear markets it is the same but switch the Tenkan and Kijun. The important thing is to always be thinking and analyzing for yourself. If something doesn’t seem to be working, or if another option seems to be working better then don’t be afraid to explore it. “Don’t fix what isn’t broken” is terrible advice and only leads to complacency. Do not let that be you! Heck we would still be in the stone ages if that were good advice. Instead I encourage you to think for yourself and always strive to evolve.
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by Sawcruhteez
2
Applying Elliott Wave Theory on MC DONALDS by ThinkingAntsOkToday we will Use Elliott Wave Theory as a method to bring extra information to the chart, remember that this is a tool that must be combined with other trading analysis methods, and the final objective is to bring a clear framework for decision making. We will give a Real example on MC DONALDS chart, Elliot Wave Theory was developed by Ralph Nelson Elliott by observing the behavior of the Stock Market. This is a complex Theory, if you are interested in learning more about this, we recommend Robert Balan´s Book "Elliott Wave Principle" Remember the Basic 3 Rules of Elliot Wave Theory: 1) Wave 2 will not retrace past the starting point of wave 1. If the impulse waves are going up, wave 2 cannot go below the origin of wave 1. If the impulse sequence is going down, wave 2 cannot exceed the peak from whence wave 1 originated. 2) Wave 3 can not be the shortest of the "impulsive waves". Wave 3 is not necessarily the longest, but it is almost always the longest 3) In an upward sequence. Wave 4 cannot overlap the peak of wave 1. In a downward sequence, Wave 4 can not rally above the bottom of Wave 1. If any of these combinations is violated the particular sequence is not impulsive in nature. Another important concept is that Markets are Fractals by Nature, that means that the structures that you find on a 1D chart, for example, will be replicated on lower timeframes like 4HS. This Rule keeps going independently of the timeframe you are working on, the same happens on a 1H chart and a 10 minutes Chart. That's the reason you will see different symbols on the Elliott Count on this Example. Observe how we can make a new Count on the 5th Wave we see on the Weekly Chart (is composed by a new 12345 full count). And if we go to the Daily chart, we can make a new count over the 5th wave of the 5th wave, I know this might sound complex but when you take the idea of Fractals, this process becomes really logical. In this case, Elliott Wave Theory will tell us that all the Cycles are completed, if we combine this with price action for example (using trendlines) we can see that also the price is against a major trendline that is working as resistance, and the last Item will be the Divergence on MACD. This doesn't mean that the price will go in that direction, but if we have to put our money on something, for sure you want to do it in the strongest direction of your analysis. Hope this Educational post is Usefull for People interested in Elliot Wave Theory. Thinking Ants
NYSE:MCDEducation
by ThinkingAntsOk
3
Ferrari expected downtrend theory on friday 15th aug.I'm expecting Ferrari stock to enter (longterm?) downtrend on friday the 15th. The marketprice might be overstated for the quarter earnings. It has already entered a short downtrend. After that it stabilizes a little bit. The stabilizing support line is stagnating while the longterm resistant line is falling. The lines will cross on 16th of aug. Thats weekend. So I would expect a fall on 15th of aug. *sidenote* I just started experimenting with trend lines on charts this day (new to investing). It could be real bullshit what I'm selling, but I don't know. Please let me know what you think of this theory. All critics are welcome.
MIL:RACE
by Rik073
How $BTC will play out.Here is a prediction of how I believe #Bitcoin will play out over the next 12 months or so. I don't believe $BTC will turn out people expect it to turn out. What we need and what we will adapt to will be a "Stable Crypto Coin" I also believe $USDT is printing money out of thin air, pumping BTC (BUYING) only to sell it for real cash... I have a theory: There is not enough cash to pay back everyone $BTC USD value that their wallets show....and when the world finds out it will be tragic...we will even see documentaries over it all :)
BITSTAMP:BTCUSDShort
by OfficialGoon
EURAUD Theory (STUDENT TRADER)I'm new to TradingView and have only been researching for a few days so feedback is appreciated. I've marked my 4 Hour Support & Resistance zones (In Green & Red respectively) of which the points touched are highlighted with coloured arrows. There is evidence of a bullish trend line despite not being as prominent as I'd of liked, I've plotted it nonetheless attempting to touch every wick where possible. I anticipate price action will retest the trend line on its way up to the Resistance zone. I assume once the price action comes into the Resistance zone, I should look for further indication of whether it will push through or whether it will bounce South. As mentioned I'm completely new to this so I'm not in the position to confidently predict LONG or SHORT, but at this stage I believe if it re-tests for the 4th time we should expect it to fall back South, making the Resistance zone a potential SELL position with the TP being somewhat near the 4HR Support Zone. I appreciate all feedback & criticism, so long as you bear in mind this is the 3rd day I have been theorising Resistance & Support w/ Trendlines. I am a Student of the Diamond Forex Academy ; instagram.com/diamondforex/ My personal tutor is Masum , a Top Author on TradingView; uk.tradingview.com/u/masumhussain/ EDIT: After publishing I realised the Bullish Trendline I had plotted did not appear correctly on the publishing. When I drew it, it was a lot lower and clipped only the candle wicks, not the candle itself.
by Amir_A147
5