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/
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
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
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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!
