After going back to Nictrades to understand the detailed way of implementing the scanning ‘tools and indicators’ I developed for Crypto, I have gone farther into investigating the use of Fibonacci retracement levels. There are numerous scenarios you want to measure these levels for price target levels. You can swap out these levels to create new support or resistance levels for when you want to place market entry or exit.
It is important to understand how to generate the various minima and maxima levels in any times series you choose. What is demonstrated is a true time series from a crypto pair found on Binance.
Note that Nictrades can be found here https://www.facebook.com/NicTrades/
I plan to introduce new videos to generate:
- Upper and lower trend lines in using another way to find support or resistance.
- Use moving averages (20 and 50 SMA with 200 EMA) which shows when a pair goes sideways. You can also use any of these moving averages as a support or resistance line as well.
- How to gauge the probability of a pair is going into a market reversal.
Important stuff indeed. All of these will be reported in detail of the top performing crypto currency pairs found from Binance. You can get more details of this service here.
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!