Look for ABC NICTrades crypto currency Bitcoin notes

(Last Updated On: February 20, 2018)

Look for ABC NICTrades crypto currency Bitcoin notes

There is a lots of emphasis on how to look for ABC pattern

If you don’t know Nic who does crypto currency trading outlook. She runs a Facebook group with a free Facebook Live stream every Monday nite Eastern Standard. Note she runs it at 9 PM London UK time as well for a couple of hours.

Here is what I think about her technical trading analysis. As you read the notes below on her commentary on each coin, you will quickly realize there is a certain outlook she has for each coin. She is essentially a trend follower with daily chart forecasting and uses 4 hour to confirm short term potential. General indicators used are support/resistance, Moving Average, and Fib level for forecasting targets. There are other classic pattern days used as well. Very interesting how she does it.

Here is my take:

When you analyze the tick and 1 minute, it is tough to gauge on the high speed levels. No targeting is used to calculate is really possible since the pricing can change so fast. Most of my experience ha resulted in many quick losses since it is tough to forecast these. The markets are just too random to explain movements sine they are way to random. As a result, I am rethinking to follow Nic’s overall strategy with target levels using the patterns/indicators.

Oh, you are a hypocrite looking at technical analysis

You are right! When you compare someone who looks fairly successful, it is more smart to use this as a roadmap instead of wasting time guessing in these fast moving random markets. It seems these target levels make more sense. The technical traders don’t seem to care what others think. They just use historical averages what may work with highers of taking place. This compared to to my experience over the last months. I just need a better roadmap like with this strategy from Nic. Let’s see how this plays out. I can overlay this experience with other techniques like quant or fundamental later on.

Nic Trades contact: https://www.facebook.com/NicTrades/

https://twitter.com/nictrades

Correction: It should be Gartley pattern

https://learn.tradimo.com/advanced-chart-patterns/gartley-pattern

Here are the rough notes with no spell or grammar check.

Daily chart

Fib level

target 1 and target 2

wedge breaks up and resistance

ABC correction

look for potential support level

trendline down → look for better entry

20 moving average (first support) → daily close below that

support to retest → compare to USD or BTC

bunch up of average (above 50% above retrace) → need to get above next support level

look more for consolidation

look for ABC correction

need to be higher than 236 level

support for daily moving average

weekly invert (fib retrace) → need 50% of drop on a weekly chart comparison

200 DMA 20 DMA need to be above compare to fib > retest and could against downward always compare against 50%

fib line 618 786 (bullish trend)

https://crawfordstrategyreports.com/fibonacci-retracement

You’ll want to place a stop just past the next resistance level, 78.6%.

golden ratio zone fib and moving average (mid pivot level)

CCI 14,5

fib resistance of previous high

bull bear line overhead resistance

look for 50% Of the drop

trade sideways

look for 4 hour resistance

DMA 50 above →entry

look for flag or pennant (side ways consdolitation) use trendline to measure breakout

https://www.babypips.com/learn/forex/pennants

use alarms for entry level potential

support and resistance trendline

look for pull back → 200 DMA low of potential high

retest open high bounce above 200 DMA measure high and low → bullish reversal

4HR 200 DMA for potential entry

measure first swing

compares against USD or BTC

flag pattern for consolidation

current price below DMA 200 so downtrend→ look for support level

equal measure move from previous high and low → bullish gotly pattern

4 hour chart

fib target project from previoss swing

NEED 3 SWINGS FOR ENTRY POTENTIAL look for ABC pattern correct

triple top

or double level

compare to daily chart

compare crypto performance vs benchmark like BTC

screens 200 coins twice a day

when BTC outperform ETH (be in BTC or maybe LTC)

inverted head and shoulder wedge consolidation

MA 200 close

EMA 20 close

MA 50

look for fib retrace level on projection

bottom and looks for impulsive move or impulsive candle

Understanding Impulsive And Corrective Price Action

wave count

50% drop after rally → look for ABC correct or flag pattern

measure against daily and weekly can take partial profit

look for breakout but could be stuck in range →flat moving average down to fib/support or resistance to measure potential breakout

uses binance

daily chart trend line up to equal measure move of 50% of prior low

fib of high to low to set target (786 fib)

if it continues to drop below fib or support level, drop off potential

use elliot wave

for capital allocation, put into top 3 potentials

 

Warning on your sleazy forex broker account and crypto currency exchange 

NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!
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About caustic

Hi i there My name is Bryan Downing. I am part of a company called QuantLabs.Net This is specifically a company with a high profile blog about technology, trading, financial, investment, quant, etc. It posts things on how to do job interviews with large companies like Morgan Stanley, Bloomberg, Citibank, and IBM. It also posts different unique tips and tricks on Java, C++, or C programming. It posts about different techniques in learning about Matlab and building models or strategies. There is a lot here if you are into venturing into the financial world like quant or technical analysis. It also discusses the future generation of trading and programming Specialties: C++, Java, C#, Matlab, quant, models, strategies, technical analysis, linux, windows P.S. I have been known to be the worst typist. Do not be offended by it as I like to bang stuff out and put priorty of what I do over typing. Maybe one day I can get a full time copy editor to help out. Do note I prefer videos as they are much easier to produce so check out my many video at youtube.com/quantlabs