I like to plot all of the MACDs and EMAs on a chart and judge the viability of a short term trade by how close the EMAs of the longer terms are. If the longer term MACDs are against me and their EMAs are too close, then the trade is too risky.
Based on the 12H, 1D, and 3D charts, I see the max that the breakout could possibly go is $440-$450, and right now the price is at $430. A possible $10-$20 trade on weak momentum and low volume where I'll have to make sure to get out before I get clobbered by the next $60 down candle is not worth it.
Topic: Multi-Timeframe Technical Analysis - page 2. (Read 2125 times)
Bitstamp BTC/USD MACD trend data from Bitcoinwisdom:
MACD on 1-Week Chart: Down
MACD on 3-Day Chart: Down
MACD on 1-Day Chart: Down
MACD on 12-Hour Chart: Down
MACD on 6-Hour Chart: Down
MACD on 4-Hour Chart: Up
MACD on 2-Hour Chart: Up
MACD on 1-Hour Chart: Up
MACD on 30-Minute Chart: Up
MACD on 15-Minute Chart: Up
MACD on 5-Minute Chart: Up
MACD on 3-Minute Chart: Up
MACD on 1-Minute Chart: Up
It's looking bullish for short-term traders and bearish for medium-term traders. Data for long-term traders is not available on Bitcoinwisdom, as it doesn't support a 1-month Chart. But you can eyeball it and see the long-term monthly trend is up.
The 6-Hour chart is very close to hitting Up.
MACD on 1-Week Chart: Down
MACD on 3-Day Chart: Down
MACD on 1-Day Chart: Down
MACD on 12-Hour Chart: Down
MACD on 6-Hour Chart: Down
MACD on 4-Hour Chart: Up
MACD on 2-Hour Chart: Up
MACD on 1-Hour Chart: Up
MACD on 30-Minute Chart: Up
MACD on 15-Minute Chart: Up
MACD on 5-Minute Chart: Up
MACD on 3-Minute Chart: Up
MACD on 1-Minute Chart: Up
It's looking bullish for short-term traders and bearish for medium-term traders. Data for long-term traders is not available on Bitcoinwisdom, as it doesn't support a 1-month Chart. But you can eyeball it and see the long-term monthly trend is up.
The 6-Hour chart is very close to hitting Up.
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