I made this chart as a learning chart for spotting indicators that may tell us the direction better.
Let's begin.
1. So TD sequential shows that the TD sell countdown was successful on 4H chart, and should follow by 13 count candles (TD sell countdown) that are higher (close) that 2 candlesticks prior. This indicator is basically used to identify potential reversal or pullback. We can see on the chart that we closed our 9 candle, starting from 9.
2. When Bollinger Bands are expanding too much upwards it usually indicates a pullback.
3. The price is currently in the middle of the channel and shows that the price can raise to 0.618 Fibonacchi level, where the resistance lies. We also have 28 hours of green candlesticks so far. Sooner or later, we will have to get red candlestick/s.
4. I heard that low volume is bad but on the other hand, I also heard that it's healthy trend (am I wrong?). Stochostics oscillator shows that BTC is currently oversold on all 1H, 4H, and 1D time frame.
5. We are above both 200 EMA and 50 EMA which is good so far. The support has to be strong for us to hold by the way.
Personally, I wouldn't buy at the moment but wait for some kind of pullback or support after hitting around 0.618 Fibonacchi. From there I would watch the price on 1H and 4H chart to see if the price is being supported then buy in. This lowers the risk of losing money in my opinion.
Note:
I'm still learning so feel free to comment and give suggestions of what type of indicators that I can look into. Elliots wave is something that I am not still comfortable with.
Let's begin.
1. So TD sequential shows that the TD sell countdown was successful on 4H chart, and should follow by 13 count candles (TD sell countdown) that are higher (close) that 2 candlesticks prior. This indicator is basically used to identify potential reversal or pullback. We can see on the chart that we closed our 9 candle, starting from 9.
2. When Bollinger Bands are expanding too much upwards it usually indicates a pullback.
3. The price is currently in the middle of the channel and shows that the price can raise to 0.618 Fibonacchi level, where the resistance lies. We also have 28 hours of green candlesticks so far. Sooner or later, we will have to get red candlestick/s.
4. I heard that low volume is bad but on the other hand, I also heard that it's healthy trend (am I wrong?). Stochostics oscillator shows that BTC is currently oversold on all 1H, 4H, and 1D time frame.
5. We are above both 200 EMA and 50 EMA which is good so far. The support has to be strong for us to hold by the way.
Personally, I wouldn't buy at the moment but wait for some kind of pullback or support after hitting around 0.618 Fibonacchi. From there I would watch the price on 1H and 4H chart to see if the price is being supported then buy in. This lowers the risk of losing money in my opinion.
Note:
I'm still learning so feel free to comment and give suggestions of what type of indicators that I can look into. Elliots wave is something that I am not still comfortable with.
评论:
To make sure that I counted correctly according to guidelines. This shows that we are in a setup at the moment but keep in mind that we don't always get to number 9 as it gets interrupted. If I understood it correctly from my research, we should have a count to at least 9 to have a setup, followed by 13 counts. At candlebar 8 from setup, we usually see a start of a reversal or signs.
评论:
I want to add that TD sequential shows point where reversal or pullback is likely to happen. TA requires reading other indicators also and not rely solely on one.
评论:
I forgot several other rules regarding TD sequential thus making the previous chart inaccurate.