This is an update on progress of our downward progression during this bout of downward pressure:
2-Day TF:
Topic: Bitcoin Analysis With ProwdClown of Trading View - page 2. (Read 223 times)
Posted May 28, 2018:
This is an update on progress of our downward progression during this bout of downward pressure:
2-Day TF:
This is an update on progress of our downward progression during this bout of downward pressure:
2-Day TF:
Posted May 24, 2018
2014/2015 - 2-Day Time Frame:
IMPORTANT NOTE:
In 2015 we ended up with MULTIPLE Automatic Rallies and TESTS in Phase B. It's possible we could have MULTIPLE Automatice Rallies and TESTS in Phase B in 2018 as well. We cannot rule that out. We simply have to be on guard and pay close attention to indicators as those "potential" events unfold.
2014/2015 - 2-Day Time Frame:
IMPORTANT NOTE:
In 2015 we ended up with MULTIPLE Automatic Rallies and TESTS in Phase B. It's possible we could have MULTIPLE Automatice Rallies and TESTS in Phase B in 2018 as well. We cannot rule that out. We simply have to be on guard and pay close attention to indicators as those "potential" events unfold.
Posted May 24, 2018:
Lets get a historical perspective on what we're currently dealing with:
The SPRING can "possibly" begin around June 22nd. It's marked below with Blue Vertical Time Line inside the top indicator located near the bottom of the chart lined up with the text bubble, "SPRING."
2018 2-Day Time Frame:
Lets get a historical perspective on what we're currently dealing with:
The SPRING can "possibly" begin around June 22nd. It's marked below with Blue Vertical Time Line inside the top indicator located near the bottom of the chart lined up with the text bubble, "SPRING."
2018 2-Day Time Frame:
Posted May 24, 2018:
2-Day TF:
Quick reminder before looking at the 2-Day TF: There's a "possibility" a Wyckoff Accumulation Schematic #2 can play out https://i.imgur.com/54FyNdB.png BUT I'm still leaning more towards Accumulations Schematic #1 https://i.imgur.com/gcrmXTd.png
2-Day TF:
Quick reminder before looking at the 2-Day TF: There's a "possibility" a Wyckoff Accumulation Schematic #2 can play out https://i.imgur.com/54FyNdB.png BUT I'm still leaning more towards Accumulations Schematic #1 https://i.imgur.com/gcrmXTd.png
I am not expert doing analysis but for sure investors sell bitcoin at these prices still winning good profit perhaps the decline will continue till we reach started point over 1 K ++$ per 1 bitcoin . Thank you for good review .
4-Day TF with indicators:
The following link is an image to provide an example of one type of Wyckoff Accumulation Schematic #1: https://i.imgur.com/gcrmXTd.png
It appears I was correct in a BTCUSD -4.86% idea published on February 18, 2018 when I said, we dropped from ATH 2.43% (All Time High) approximately 70% https://www.tradingview.com/chart/BTCUSD/Pfc78osa-BTCUSD-BITSTAMP-Changed-to-Wyckoff-Accumulation-Schematic/ . It was my opinion this required us to begin an Accumulation Schematic again. In another idea I published on March 11, 2018 I made the error of using the 360 minute (6h) Time Frame to draw conclusions on the "location" of events within the Schematic. As I've mentioned before, we should "generally" use high Time Frames (4-Day or higher) when applying Wyckoff rules and schematics to determine the long term Technical Analysis of a pair. I failed to exercise my very opinion recommended to others in previous publications. It's quite obvious, in my opinion, we are in an Accumulation Schematic. Apologies for not sticking with previous logic of accumulation after a 70% drop from All Time High.
When transitioning from one Schematic to another after a major event, it can be difficult at times to determine "where" we may be within a new schematic and whether it will be accumulation or distribution. We have learned from experience here that a 70% drop from All Time High definitely justified beginning a Wyckoff Accumulation Schematic. We would simply be challenged with the task to determine where Preliminary Support will be within that Accumulation Schematic to determine where an Automatic Rally should peak near Preliminary Support level . In fact, the PEAK of the Automatic Rally in Phase A "confirms" our location for Preliminary Support as identified on the chart above.
We are currently in Phase B and heading down towards the bottom of the Trading Range between $5,920 and $11,780. I'm expecting us to fall just below the bottom of the trading range at $5,920 to approximately $5,366; where we will "potentially" begin a Wyckoff SPRING and mark the end of this bear trend.
It is said, "Phase B serves the function of “building a cause” for a new uptrend (See Wyckoff Law #2 – “Cause and Effect”). In phase B, institutions and large professional interests are accumulating relatively low-priced inventory in anticipation of the next markup. The process of institutional accumulation may take a long time (sometimes a year or more), and involves purchasing coins at lower prices and checking advances in price with short sales. There are usually multiple Second Tests during Phase B, as well as upthrust-type actions at the upper end of the Trading Range. Overall, the large interests are net buyers of shares as the Tra evolves, with the goal of acquiring as much of the remaining floating supply as possible. Institutional buying and selling imparts the characteristic up-and-down price action of the trading range.
Early on in Phase B, the price swings tend to be wide, accompanied by high volume . As the professionals absorb the supply. However, the volume on downswings within the Trading Range tends will diminish. When it appears that supply is likely to have been exhausted, the coin is ready for Phase C.
Keep in mind, there is still the "possibility" for a Wyckoff Accumulation Schematic #2 https://i.imgur.com/54FyNdB.png to play out instead of #1. I'm leaning more with Accumulation Schematic #1
Here is a link with further information on the EVENTS TO OCCUR WITHIN THE SCHEMATIC. It was put together well in a short synopsis of Wyckoff Schematics: http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_wyckoff_method
It appears I was correct in a BTCUSD -4.86% idea published on February 18, 2018 when I said, we dropped from ATH 2.43% (All Time High) approximately 70% https://www.tradingview.com/chart/BTCUSD/Pfc78osa-BTCUSD-BITSTAMP-Changed-to-Wyckoff-Accumulation-Schematic/ . It was my opinion
When transitioning from one Schematic to another after a major event, it can be difficult at times to determine "where" we may be within a new schematic and whether it will be accumulation or distribution. We have learned from experience here that a 70% drop from All Time High definitely justified beginning a Wyckoff Accumulation Schematic. We would simply be challenged with the task to determine where Preliminary Support will be within that Accumulation Schematic to determine where an Automatic Rally should peak
We are currently in Phase B and heading down towards the bottom of the Trading Range between $5,920 and $11,780. I'm expecting us to fall just below the bottom of the trading range at $5,920 to approximately $5,366; where we will "potentially" begin a Wyckoff SPRING and mark the end of this bear trend.
It is said, "Phase B serves the function of “building a cause” for a new uptrend (See Wyckoff Law #2 – “Cause and Effect”). In phase B, institutions and large professional interests are accumulating relatively low-priced inventory in anticipation of the next markup. The process of institutional accumulation may take a long time (sometimes a year or more), and involves purchasing coins at lower prices and checking advances in price with short sales. There are usually multiple Second Tests during Phase B, as well as upthrust-type actions at the upper end of the Trading Range. Overall, the large interests are net buyers of shares as the Tra evolves, with the goal of acquiring as much of the remaining floating supply as possible. Institutional buying and selling imparts the characteristic up-and-down price action of the trading range.
Early on in Phase B, the price swings tend to be wide, accompanied by high volume . As the professionals absorb the supply. However, the volume on downswings within the Trading Range tends will diminish. When it appears that supply is likely to have been exhausted, the coin is ready for Phase C.
Keep in mind, there is still the "possibility" for a Wyckoff Accumulation Schematic #2 https://i.imgur.com/54FyNdB.png to play out instead of #1. I'm leaning more with Accumulation Schematic #1
Here is a link with further information on the EVENTS TO OCCUR WITHIN THE SCHEMATIC. It was put together well in a short synopsis of Wyckoff Schematics: http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_wyckoff_method
Hi everyone,
I'm sure there are many Bitcoin Analysis forums on Bitcoin Talk. However, I want to begin an Analysis forum that's a bit different from what most may be accustomed to. This forum will be both educational and informative. You'll see what I mean if you continue reading and get involved. It's necessary to read what I have to say first before getting started "officially" with this forum.
Maybe you're wondering WHY post here when I can simply continue doing what I do on trading view? Those who have known me a while know I'm a crypto currency miner. I'm of the opinion that all crypto miners should have a basic understanding of trading in order to optimize their profits the same way in which they optimize their mining rigs for best efficiency and profits. The better trader you are, the better chance of one increasing their gains in crypto.
Here's a link to the Bitcoin Publication currently on-going on Trading View: https://www.tradingview.com/chart/BTCUSD/P07Gk3YT-Wyckoff-Accumulation-Schematic-Chart-pasted-again-in-comments/
Let me first see if I can gain your interest to continue reading by posting a couple of charts below: [Note: if the charts do not appear or there's a "?" symbol, simply refresh your browser.]
Here's an example of my charts with a Wyckoff Accumulation Schematic:
Here's an example of my chart WITH indicators and the occasional text bubbles to provide details about opinions provided:
First off, I must post a disclaimer: "The analysis provided in the entirety of this forum [By me or anyone else] is not financial or trading advice. It's simply "opinion." However, I consider the opinion(s) [Given by myself] to be worthy of consideration when making your own financial and trading decisions.
I've been trading since October, 2014. I know that is not much "experience" [In regards to "time" invested] as some may prefer when following the "opinion" of another trader. However, I do believe I have learned enough [At this point] to be a valuable contribution to other "experienced" traders who are willing to contribute to this forum. I do not claim to know everything there is to know about trading. In fact, the more I look at charts and conduct research into various indicators and wave analysis, the more I determine I need to learn.
I want to encourage all to free to contribute "profitable" thoughts/views to this forum as often as they like. When "we" do contribute, lets try to do so "tactfully," by treating each other as we want to be treated ourselves. Even though this forum will be self moderated, I'm an avid supporter of "freedom of speech" when done so respectfully. So, lets be kind to one another, please. If I get out of line [Or one believes I got out of line], simply bring it to my attention and I will acknowledge it with a resolution to try not to make the same mistake again. I will expect others to do the same. Again, lets treat one another as we want to be treated.
IMPORTANT QUOTE: ”…all the fluctuations in the market and in all the various stocks should be studied as if they were the result of one man’s operations. Let us call him the Composite Man, who, in theory, sits behind the scenes and manipulates the stocks to your disadvantage if you do not understand the game as he plays it; and to your great profit if you do understand it.” Richard D. Wyckoff.
I'll start by listing the "Tools" used in my "style" of trading with a brief example here and there of why the "tool" and/or strategy is beneficial to be used for TA (Technical Analysis).
Richard Wyckoff rules, laws and schematics are used for Long Term analysis:
Generally, high time frames should be used to obtain an idea of a LONG TERM picture of what the market movers are up to. Wyckoff refers to them as, "Composite Man." I call them, “Composite Group(s).” Wyckoff schematics should only be used with higher time frames . Sometimes, it is necessary to use lower TF’s (720m and Daily). Especially, if the pair has little history to go by or I need to see more details to get a better idea of something. Such as, where Preliminary Support may be located in a Schematic.
When using Wyckoff schematics, it also depends on what currency pair, stock, commodity or crypto currency pair you’re applying it to AND how much history is available in order to determine what TF's (Time Frames) one would utilize when applying Wyckoff schematics and rules. You will soon see, I’ve learned to be careful about making flat statements when trading. It often involves many specific details and rules. Sometimes, those details/rules are not REALIZED except by EXPERIENCE. Which is why I know I still have much to learn.
Once I get a general idea of a "potential" LONG TERM picture (schematic) in high time frames, I begin to look at my indicators to see if the schematic I've chosen as a potential candidate is potentially correct. What "schematic?" Richard D. Wyckoff created examples of several different types of distribution and accumulation schematics. I chose a schematic based on price action in the market in high time frames. When using Wyckoff to determine long term direction and events, it can often take time between events to make a determination of which schematic is unfolding. Especially, in regards to transitioning from Phase D and/or E of a schematic into Phase A of another schematic.
Main indicators used are the following:
1.) Phoenix 1.393 with first three inputs set to 9, 6 and 3 - It is thirteen (13) indicators merged into one indicator. It’s author wishes to remain anonymous and insists I do not give it to others without his approval. He’s currently working on other indicators; some of which are in the patent process. "Godmode 3.1 Mod with LSMA" is somewhat similar to Phoenix 1.393 and makes a workable replacement for those who follow me on Trading View.
2.) Phoenix ARI 1.07 (Alternate Reality Indicator) is another indicator by the same author who wishes to remain anonymous.
3.) Stochastic RSI “merged” with Phoenix ARI 1.07 above.
4.) I also occasionally use Moving Averages (MA’s) with various inputs; depending on time frame(s) I’m utilizing for various purposes and types of trading.
The first three indicators listed above are used predominantly. They can be used on ANY pair (stock, currency, commodity, crypto) on most ANY time frame [Depending on the amount of history]. I use them to assist with getting an idea of how much time potentially remains between events within a phase(s) of a Wyckoff Schematic and best possible entry and exit .
Lately, I’ve been preoccupied with several things going on with my mining business and remodeling of my home. As well as remodeling of my mining room for proper cooling this summer. I need to finish the remodel in my mining room in regards to cooling of mining rigs before I'm able to get back to trading full time. By the way, here's a link to the progress of my mining and my dad's mining room: https://bitcointalksearch.org/topic/lets-share-ideas-of-ways-to-manage-heat-from-mining-in-a-home-or-warehouse-2865914
Needless to say, I’ve been very busy lately. Which means the type of trading I’ve been doing lately has involved only using low, middle and high time frames (60m to 7-Day) with my indicators. I consider anything less than 60 minute (60m) “very low” TF. I consider anything higher than 7-Day “very high” TF. This means I may implement 2 to 6 trades in a two week period on a crypto currency pair. Sometimes less than that lately.
When preparing to trade:
1st) I identify WHERE we are located (Phase and Event) in a Wyckoff Schematic.
2nd) Determine if we should wait or is it worth it to make entry or exit on a crypto currency pair Example: We may have finally been able to take the time to possibly make a trade. We get to our computer and open a chart to find the location we believe we are within a Wyckoff Schematic is acceptable to execute because we believe we still have plenty of time to execute the trade before that particular event is over. It may be we are near the completion of an event and about to begin another event in the opposite direction. So, we determine it would be better to wait in that case.
3rd) Is the direction to the next event upside (bull trend) or downside (bear trend). WHY do I want to know that? Example: The downward dips in a bull trend is generally small in comparison to the upward pumps in each wave while moving up in a bull trend from the bottom of a Selling Climax (SC) to the peak of an Automatic Rally (AR). That’s important information to know if the liquidity is available and the volatility is there for scalping a stock on the way up from a Selling Climax to the peak of an Automatic Rally. The same would hold true for scalping on the way down from an Automatic Rally (AR) to a Second Test (ST) in Phase B of an Accumulation Schematic. In that case, we must remember the pumps are small and the dips are large in each wave while in a bear trend moving down to the bottom of a Second Test (ST).
4th) Do the indicators provide sufficient signal in multiple time frames to convince us to implement the trade? That would require knowing how to use the indicators I listed above. For your information: I have created a publication that was a ROUGH DRAFT on HOW to use Godmode indicator. That publication is NOT organized at all.
The Phoenix 1.393 Indicator I use is similar to a public indicator on Trading View called, "Godmode 3.1 mod with LSMA - LTCUSD." Ignore the fact it says, "LTCUSD." The only time LTC would come into play is if you clicked "Multi-Exchange" in the "input" section of formatting. The code shows you what exchanges it uses for LTCUSD if you were to click "multi-exchange." As long as you do NOT click "multi-exchange," you'll be fine using it for ANYTHING (Crypto, stocks, commodities, FOREX, etc...). You must have a PRO account to use "Godmode 3.1 mod with LSMA."
When I first began using the Godmode, its "inputs" were not to my liking. A friend of mine and myself began playing around with the inputs looking for patterns. We both determined the inputs of 9, 6 and 3 were the best inputs to use. Especially, for day trading. I created a publication for Godmode and provided instructions on how to change the inputs from default of 9, 26 and 13 to 9, 6 and 3. That publication was a ROUGH DRAFT with the intent of trying to get others quickly up to speed on what I was learning while using it.
After approximately a year of using Godmode, someone created "Godmode 3.1 mod with LSMA - LTCUSD," which had the same inputs as I suggested and they also added the LSMA (Liquid Square Moving Average and changed the input to 32 as I suggested). So, if you were to study the ROUGH DRAFT I created to obtain a BASIC knowledge of HOW to use Godmode, you should SKIP the part in the beginning with instructions on how to set the inputs and add the LSMA as suggested. It's ready to use per my recommendations without editing anything in formatting. I will include a link to that ROUGH DRAFT shortly.
Phoenix 1.118 was the beginning stage towards making Godmode better and adding more indicators to it. There is very little difference between Godmode 3.1 mod with LSMA and Phoenix 1.118. I have plans to offer Phoenix 1.393 and Phoenix ARI 1.07 to the public in the near future. But ONLY to those who subscribe to the website of professional traders I'm working with in the near future. Those indicators will be provided on Trading View to those subscribers on a PERMISSION basis without access to the actual code for the indicators.
If you click this chart below, it will take you to the ROUGH DRAFT I created; which is more or less a documentation of what I was learning myself as I played around with Godmode in its 2nd rendition with the inputs I suggested.
REMEMBER, this is NOT organized at all. Simply a rough draft. Also, you MUST have a PRO account on Trading View in order to use this indicator: https://www.tradingview.com/chart/BTCUSD/QI5Ss5M3-Basic-Understanding-of-HOW-to-use-Godmode-Pasted-in-comments/
Now, to get everyone who visits this forum up to date on current technical analysis, let me transfer my charts and comments on Trading View to this forum. This will take some time. So, bare with me as each post is transferred one by one with a date and/or time attached to the post.
I'm sure there are many Bitcoin Analysis forums on Bitcoin Talk. However, I want to begin an Analysis forum that's a bit different from what most may be accustomed to. This forum will be both educational and informative. You'll see what I mean if you continue reading and get involved. It's necessary to read what I have to say first before getting started "officially" with this forum.
Maybe you're wondering WHY post here when I can simply continue doing what I do on trading view? Those who have known me a while know I'm a crypto currency miner. I'm of the opinion that all crypto miners should have a basic understanding of trading in order to optimize their profits the same way in which they optimize their mining rigs for best efficiency and profits. The better trader you are, the better chance of one increasing their gains in crypto.
Here's a link to the Bitcoin Publication currently on-going on Trading View: https://www.tradingview.com/chart/BTCUSD/P07Gk3YT-Wyckoff-Accumulation-Schematic-Chart-pasted-again-in-comments/
Let me first see if I can gain your interest to continue reading by posting a couple of charts below: [Note: if the charts do not appear or there's a "?" symbol, simply refresh your browser.]
Here's an example of my charts with a Wyckoff Accumulation Schematic:
Here's an example of my chart WITH indicators and the occasional text bubbles to provide details about opinions provided:
First off, I must post a disclaimer: "The analysis provided in the entirety of this forum [By me or anyone else] is not financial or trading advice. It's simply "opinion." However, I consider the opinion(s) [Given by myself] to be worthy of consideration when making your own financial and trading decisions.
I've been trading since October, 2014. I know that is not much "experience" [In regards to "time" invested] as some may prefer when following the "opinion" of another trader. However, I do believe I have learned enough [At this point] to be a valuable contribution to other "experienced" traders who are willing to contribute to this forum. I do not claim to know everything there is to know about trading. In fact, the more I look at charts and conduct research into various indicators and wave analysis, the more I determine I need to learn.
I want to encourage all to free to contribute "profitable" thoughts/views to this forum as often as they like. When "we" do contribute, lets try to do so "tactfully," by treating each other as we want to be treated ourselves. Even though this forum will be self moderated, I'm an avid supporter of "freedom of speech" when done so respectfully. So, lets be kind to one another, please. If I get out of line [Or one believes I got out of line], simply bring it to my attention and I will acknowledge it with a resolution to try not to make the same mistake again. I will expect others to do the same. Again, lets treat one another as we want to be treated.
IMPORTANT QUOTE: ”…all the fluctuations in the market and in all the various stocks should be studied as if they were the result of one man’s operations. Let us call him the Composite Man, who, in theory, sits behind the scenes and manipulates the stocks to your disadvantage if you do not understand the game as he plays it; and to your great profit if you do understand it.” Richard D. Wyckoff.
I'll start by listing the "Tools" used in my "style" of trading with a brief example here and there of why the "tool" and/or strategy is beneficial to be used for TA (Technical Analysis).
Richard Wyckoff rules, laws and schematics are used for Long Term analysis:
Generally, high time frames should be used to obtain an idea of a LONG TERM picture of what the market movers are up to. Wyckoff refers to them as, "Composite Man." I call them, “Composite Group(s).” Wyckoff schematics should only be used with higher time frames . Sometimes, it is necessary to use lower TF’s (720m and Daily). Especially, if the pair has little history to go by or I need to see more details to get a better idea of something. Such as, where Preliminary Support may be located in a Schematic.
When using Wyckoff schematics, it also depends on what currency pair, stock, commodity or crypto currency pair you’re applying it to AND how much history is available in order to determine what TF's (Time Frames) one would utilize when applying Wyckoff schematics and rules. You will soon see, I’ve learned to be careful about making flat statements when trading. It often involves many specific details and rules. Sometimes, those details/rules are not REALIZED except by EXPERIENCE. Which is why I know I still have much to learn.
Once I get a general idea of a "potential" LONG TERM picture (schematic) in high time frames, I begin to look at my indicators to see if the schematic I've chosen as a potential candidate is potentially correct. What "schematic?" Richard D. Wyckoff created examples of several different types of distribution and accumulation schematics. I chose a schematic based on price action in the market in high time frames. When using Wyckoff to determine long term direction and events, it can often take time between events to make a determination of which schematic is unfolding. Especially, in regards to transitioning from Phase D and/or E of a schematic into Phase A of another schematic.
Main indicators used are the following:
1.) Phoenix 1.393 with first three inputs set to 9, 6 and 3 - It is thirteen (13) indicators merged into one indicator. It’s author wishes to remain anonymous and insists I do not give it to others without his approval. He’s currently working on other indicators; some of which are in the patent process. "Godmode 3.1 Mod with LSMA" is somewhat similar to Phoenix 1.393 and makes a workable replacement for those who follow me on Trading View.
2.) Phoenix ARI 1.07 (Alternate Reality Indicator) is another indicator by the same author who wishes to remain anonymous.
3.) Stochastic RSI “merged” with Phoenix ARI 1.07 above.
4.) I also occasionally use Moving Averages (MA’s) with various inputs; depending on time frame(s) I’m utilizing for various purposes and types of trading.
The first three indicators listed above are used predominantly. They can be used on ANY pair (stock, currency, commodity, crypto) on most ANY time frame [Depending on the amount of history]. I use them to assist with getting an idea of how much time potentially remains between events within a phase(s) of a Wyckoff Schematic and best possible entry and exit .
Lately, I’ve been preoccupied with several things going on with my mining business and remodeling of my home. As well as remodeling of my mining room for proper cooling this summer. I need to finish the remodel in my mining room in regards to cooling of mining rigs before I'm able to get back to trading full time. By the way, here's a link to the progress of my mining and my dad's mining room: https://bitcointalksearch.org/topic/lets-share-ideas-of-ways-to-manage-heat-from-mining-in-a-home-or-warehouse-2865914
Needless to say, I’ve been very busy lately. Which means the type of trading I’ve been doing lately has involved only using low, middle and high time frames (60m to 7-Day) with my indicators. I consider anything less than 60 minute (60m) “very low” TF. I consider anything higher than 7-Day “very high” TF. This means I may implement 2 to 6 trades in a two week period on a crypto currency pair. Sometimes less than that lately.
When preparing to trade:
1st) I identify WHERE we are located (Phase and Event) in a Wyckoff Schematic.
2nd) Determine if we should wait or is it worth it to make entry or exit on a crypto currency pair Example: We may have finally been able to take the time to possibly make a trade. We get to our computer and open a chart to find the location we believe we are within a Wyckoff Schematic is acceptable to execute because we believe we still have plenty of time to execute the trade before that particular event is over. It may be we are near the completion of an event and about to begin another event in the opposite direction. So, we determine it would be better to wait in that case.
3rd) Is the direction to the next event upside (bull trend) or downside (bear trend). WHY do I want to know that? Example: The downward dips in a bull trend is generally small in comparison to the upward pumps in each wave while moving up in a bull trend from the bottom of a Selling Climax (SC) to the peak of an Automatic Rally (AR). That’s important information to know if the liquidity is available and the volatility is there for scalping a stock on the way up from a Selling Climax to the peak of an Automatic Rally. The same would hold true for scalping on the way down from an Automatic Rally (AR) to a Second Test (ST) in Phase B of an Accumulation Schematic. In that case, we must remember the pumps are small and the dips are large in each wave while in a bear trend moving down to the bottom of a Second Test (ST).
4th) Do the indicators provide sufficient signal in multiple time frames to convince us to implement the trade? That would require knowing how to use the indicators I listed above. For your information: I have created a publication that was a ROUGH DRAFT on HOW to use Godmode indicator. That publication is NOT organized at all.
The Phoenix 1.393 Indicator I use is similar to a public indicator on Trading View called, "Godmode 3.1 mod with LSMA - LTCUSD." Ignore the fact it says, "LTCUSD." The only time LTC would come into play is if you clicked "Multi-Exchange" in the "input" section of formatting. The code shows you what exchanges it uses for LTCUSD if you were to click "multi-exchange." As long as you do NOT click "multi-exchange," you'll be fine using it for ANYTHING (Crypto, stocks, commodities, FOREX, etc...). You must have a PRO account to use "Godmode 3.1 mod with LSMA."
When I first began using the Godmode, its "inputs" were not to my liking. A friend of mine and myself began playing around with the inputs looking for patterns. We both determined the inputs of 9, 6 and 3 were the best inputs to use. Especially, for day trading. I created a publication for Godmode and provided instructions on how to change the inputs from default of 9, 26 and 13 to 9, 6 and 3. That publication was a ROUGH DRAFT with the intent of trying to get others quickly up to speed on what I was learning while using it.
After approximately a year of using Godmode, someone created "Godmode 3.1 mod with LSMA - LTCUSD," which had the same inputs as I suggested and they also added the LSMA (Liquid Square Moving Average and changed the input to 32 as I suggested). So, if you were to study the ROUGH DRAFT I created to obtain a BASIC knowledge of HOW to use Godmode, you should SKIP the part in the beginning with instructions on how to set the inputs and add the LSMA as suggested. It's ready to use per my recommendations without editing anything in formatting. I will include a link to that ROUGH DRAFT shortly.
Phoenix 1.118 was the beginning stage towards making Godmode better and adding more indicators to it. There is very little difference between Godmode 3.1 mod with LSMA and Phoenix 1.118. I have plans to offer Phoenix 1.393 and Phoenix ARI 1.07 to the public in the near future. But ONLY to those who subscribe to the website of professional traders I'm working with in the near future. Those indicators will be provided on Trading View to those subscribers on a PERMISSION basis without access to the actual code for the indicators.
If you click this chart below, it will take you to the ROUGH DRAFT I created; which is more or less a documentation of what I was learning myself as I played around with Godmode in its 2nd rendition with the inputs I suggested.
REMEMBER, this is NOT organized at all. Simply a rough draft. Also, you MUST have a PRO account on Trading View in order to use this indicator: https://www.tradingview.com/chart/BTCUSD/QI5Ss5M3-Basic-Understanding-of-HOW-to-use-Godmode-Pasted-in-comments/
Now, to get everyone who visits this forum up to date on current technical analysis, let me transfer my charts and comments on Trading View to this forum. This will take some time. So, bare with me as each post is transferred one by one with a date and/or time attached to the post.
Jump to: