Assumption: this focuses on buy signals on the long side for now only
I want to know if I am the only one doing this type of ranking system with so let me know by commenting in the Youtube video from below.
This is site shows how bearish the crypto market has become as found at CoinMarketCap. I have found 4 possible opportunities based on daily timeframe with buy signals. As a result I show with indicator charts to show how these can backup the buy signals.
A few things to note that can impact your entry/buying decision:
- Volume is a huge factor but I need to figure out proper thresholds for both daily and hourly timeframes. In order to speed up these reports, I can easily filter out those opportunities based on these thresholds.
- We can now factor momentum vs volatility vs valuation and so on based on what the video and spreadsheet data holds
- Should I breakout the short and long opportunities which can be properly lined up with the specific harmonic patterns
Once properly implemented, I can determine the correct pairs to buy with proper allocation of capital available for that trading. There are numerous factors to consider but as they say, this data does not lie. There is no more guessing or trading on imitation any more. It all data driven which will eliminate human influence.
You will find this sample spreadsheet file but do understand the data is well over a week old so don’t try trading off it. Also, if that was the case as you should never trade off of a crutch like this.
I also plan to apply some machine learning elements to get further data, figure out the weightings based on the indicators, and build an overall report with charts and logic built in.
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