DariusZen

DariusZen

Setup : There was breakout attempt a few candles ago, which didn’t trigger the trade or follow through, I’ll have to wait and see see if we get another attempt. For now price is holding above the long term MTF support level (from the black crosses a while back) which is a good sign and gives me a higher confidence in the breakout trade. If we start closing below...

DariusZen

Setup : Yesterdays candle closed just below 3500. The indicator coloured the candle green signalling a potential bar reversal, and this triggers the setup I was looking for. I have my level: the reaction at 3200; I have the signals from the indicator needed for a countertrend: overextension, bar reversal, reversal candle, and distance from trend line. I need a...

DariusZen Updated 

At the beginning of the this week I still looking for some relief if we could keep above the 4100 area. That failed hopelessly, as we closed below the inside bar range that was signalled by the green reversal bar. I closed my short around 4000 (which was perhaps premature, but at that time I assessed the upside risk to be larger than the downside risk. View prior...

DariusZen Updated 

Weekly The weekly chart is not the chart I trade, but it always important in terms of finding the right context. The charts shows me a number of things which make think that a bullish relief rally is due. The first indication is the flatness of the trend line and the distance between trend line and price. Second is the overextension signal printed on the...

DariusZen Updated 

Setup : Got stopped out on the last trade because of an error I made (wrong stop loss). I'll evaluate the trade in a article later, so we can both discover where and why I went wrong. Correct position sizing saved me from any real trouble (countertrend trade, and only a minor pullback during the setup allowed me only take on very small risk). Now the situation is...

DariusZen

These are long/short signals based on the breakout trade signal that the ZenTRend Follower indicator gives me, used to backtest the trade. The indicator and trading strategy include a few discretionary decision to make, which improve success rate and profitability. These are not coded into the long/short signals. The indicator also has signals for countertrend and...

DariusZen Updated 

Setup : The indicator gave me the setup I was looking for yesterday (see yesterdays post) on the 4HR chart. Traders of my indicator would have seen it materialise, and triggered on this candle. Trigger : Price breaks long level: trade is triggered already. Stop : Stoploss is below trend line level, not at the trailing stop the indicator plots for me. Target...

DariusZen

I like looking at inverse charts. Just to gain some perspective and to identify and challenge biases I may have and am not always aware of. It can be a very confronting but fruitful endeavour Conclusions drawn from technical analysis from this chart should be the opposite from conclusions drawn from the regular BTCUSD charts. So bullish this chart, is bearish...

DariusZen Updated 

Is this the same question you were asking yourself (and others) when the price of Bitcoin was 6000? And when the whole space said it was, what did that do for you? What would the claim that this is the bottom do for you now? Trading is reacting, not predicting. Nobody knows if this is the bottom, people may have reasons to think it is or isn’t, but nobody...

DariusZen Updated 

Setup: Bear Divergence, price crossed trend cloud, bearish re-entry signal at trend line. Trigger: Price breaks short level If triggered, look for indicator overextension signals and price reaction at Target areas. If you enjoy these setups and analysis please like and subscribe so more people can join you :) If you want to tryout the indicator and strategy,...

DariusZen

Buy/Sell Entry signals based on the ZenTrend Follower indicator. These signals are free to use. Entries are taken from the setup and trend breakout level, exits from the trailing stop loss. Overextension and trend re-entry signals are ignored. Link to the script (link to the complete indicator is found below): If you enjoy these posts please like and...

DariusZen Updated 

I’m briefly going to go through last weeks action, look at where we are now, and what I’m looking for next week. The short trade entered on November 9th is still active, and I was looking to exit that and enter long for a countertrend trade on Friday. This look good until yesterday, when price fell another 10%. For the moment that long setup is off the table, but...

DariusZen Updated 

In the last update I tightened the stop on the short and hinted at a countertrend long setup I was looking at. The reasons for the countertrend trade are the same reasons I decided to tighten the stop loss on the short: First, the overextension signal from the indicator combined with todays forming reversal candle (1). This indicates that the downwards momentum...

DariusZen Updated 

The daily short setup the indicator gave us in our last Bitcoin idea triggered a short trade which we are still in (3). It’s the first trade the indicator entered us in since the end of August on bitcoin. The trade setups (1) and (2) missed the trigger level by just a tick. You may have been triggered here, in that case you took two small losses of less than 2%,...

DariusZen

There are a number of different ways of using technical analysis. One way of using TA is to formulate a concrete trading plan upon which one can base actual trading decisions. I use TA to find certain (rule based) trade setups, and wait for price to give me either a confirmation of that setup to enter the trade, or an invalidation to cancel the setup and...

DariusZen Updated 

The short setup we were looking at in the last XRP post entered us into a short. I'm keep the stop loss at the level the indicator tells me to, to give the market room to move down. Made good profits on the last move XRP had, so even if my stop gets taken out I'm still in large net profit. Which is all that counts :) Wait for overextension signals to move the stop...

DariusZen Updated 

Hi Traders, Let’s look at the most bullish case you’ve seen for Bitcoin in the past months! This looks like a textbook market bottom, a nice bounce and now forming an ascending triangle ready to break out and start moving up again. I plotted Ichimoku on the charts, and as you can see, there are many bullish signs. The Tenkan is above the Kijun, and both are...

DariusZen

We were looking at the long setup on our last BCH post, but that setup was invalidated. The indicator showed us a short setup, which got triggered. Stop loss is at the level the indicator shows us. Remember position sizing: the size of the position should be (must be!) so that if the market hits the stop loss you lose a maximum of 3% of your account! We'll wait...