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ETHUSD 4H CHART ETHEREUM ENTRY LEVELSETHUSD broke the descending triangle from the 4H perspective, but still on the daily chart is not so convincing. However, a rising channel can help define short-term entries. The channel already tested a High at $232 from the resistance zone and reversed. The next reversal could occur from a short term resistance level or from the rising channel. RSI confirms the pattern, and Stochastics parameters are back-tested short term . The entry levels are shown on the graphic WNZ Get live updates and analysis of the cryptocurrency market: t.me
BITFINEX:ETHUSDLong
by WaineNZeddmo
5
Stopped out! A drop out of bull channel. New entry prices.The market decided that they were not comfortable with the price we were at yesterday. If you follow my post, you'll remember how often I talk about the bottom trendline of my GREEN channel. It is significant. Still is. Once we entered back into the channel, I bought BTCUSD again. I updated my trailing stops often to follow the bottom of my GREEN channel trendline. Last night, I was stopped out. New entries. I am obviously still long on BTCUSD. My target is still in the $4000 area over the next couple of months. And we have NOT entered back into our bearish RED channel. In short we are in neutral territory here as the Bitcoin market is trying to decide where to go. If you're a believer (as I am) that the market will eventually go higher again here are some entry levels you can be looking at: $2550 = 50 MA $2420 = Huge support & Middle Bollinger Band $2350 = 78.6% Fibonacci & Top of bearish RED channel. Below this last level, I become a bear again. Use safe trading practices and always put in your stops! Happy trading friends.
BITSTAMP:BTCUSDLong
by stewdamus
6
A Strategy for Market Entry and Exit - Part 3SUGARUSD:OANDA Weekly Chart A-E are similar to A-C above. F. This is another example of a DI becoming dominant in a pullback but for only a brief period of time. Notice how (A) gave a signal but that an exit was quickly signaled. After the pullback (B), then (C) gave a new entry signal to long side for many weeks before TRIX signaled a potential cover of the short. G. Is another example of the action similar to (F). NOTE: These types of actions work best when the ADX is above 20 or when it is trending up. SUGARUSD:OANDA Daily Chart More examples of the same concepts. However, this one provides good insight into a strong trend and how the TRIX, in conjunction with the DMI, will keep you in a market longer. And, when an exit is signaled, how to re-enter if the DMI indicates the trend is still intact.
OANDA:SUGARUSDEducation
by mxb1961
A Strategy for Market Entry and Exit - Part 2Part 1 can be found here: Key Tenants DMI is used as a triggering mechanism to establish support->resistance or resistance->support lines TRIX used to identify targets to exit and re-enter and on-going trend (if the DMI indicates a down trend, the a negative cross of TRIX over HMA would indicate a level to short Divergence can happen in both DMI and TRIX to indicate a weakening trend. With the TRIX, it can be a negative divergence where price makes new lows but TRIX makes higher lows or positive divergence where price is making a new low but TRIX is making lower lows in a blow-off fashion. Stoch indicates overbought/sold conditions with potential leading trigger on trade. Can leverage mid-point levels as trade continuation SUGARUSD:OANDA as an example reference 4hr chart above A. This is the period where the -DI crossed up over the +DI signaling that the trend was turning down. For Wilder, the low on this day would be the extreme point and you would enter a short position once price moved below it. A stop would be placed at the high of the same day as the cross. I’m looking at this more from the point of using the closing price instead of the high or low. If the next day closed below this price, then I would enter a short position at that close. At this point, you can use whatever trailing stop strategy you currently used to exit should price move contrary to your position B. This is the day that the +DI crossed up over the -DI signaling a possible buy. However, price did not close above this line before the ADX (green line on the DMI) dropped below both DI’s and eventually 20. Once this happens, a trend following indicator should not be used and signals that happen now I don’t act on. What has been suggested is that during this time, look for patterns in price and watch for price to breakout of this pattern. C. -DI again crosses up over +DI and with price closing below this line, a signal to enter short again is given 1. This is the first signal after (A) that indicates a correction may be happening. Once the TRIX crosses up over the HMA, that period’s close is used as the line to determine if the trade will be closed. If price closes above this line, then exit the trade. This is the case and the short position would have been exited 2. Because the trend is still down as indicated by the -DI being dominant, when the TRIX crosses down over the HMA, the close for that period is used to enter another short position. 3. Again, a signal is given to cover the short but in this case, price did not close over this close so the trade would not have been exited even though many periods went by 4. This time, the signal was hit to cover the short and again, due to the trend being down (-DI dominant), the signal was again triggered to re-enter a short position 5. Exit signal given and short was covered 6. This time, the sell signal to re-enter was not hit and price eventually entered a period of consolidation signaled by the ADX dropping below both DI’s and 20 7. NOTE: This is a important part of DMI/ADX that I use and will keep you out of a lot of churn in markets: When ADX drops below both DI’s and/or below 20, don’t use a trend following indicator to take trades. An option is to look for a price pattern (a channel, flag, a triangle, maybe a trend line) for price to consolidate into and then break out of. This consolidation should last for at least 5-7 periods or longer. Use the TRIX to potentially give a signal as to the direction of the breakout. In this case, the breakout was to the down side. Between (B) and (C), you see a pattern that happens in the DMI where there is a pullback. In these cases, one of the DI’s can become dominant for a briefly.
OANDA:SUGARUSDEducation
by mxb1961