Can someone give my his opinion about my first chart please

coeurdelion · April 17, 2019, 10:38am

Hi,

I made this chart and would like to know if my strategy is right IMO in the next month we should rally and test again 0.786 fib resistance. Pattern looks similar to nov/december but I’m still affraid we could visit next big support at 500 my concern is sell volume is a lot higher than back then.

What others indicators could help me or what chart patterns can you see and do you think there is more probability for price to go down to next support or reverse here giving the bullish signs or do you see signs that it’s going to break down ? Or any advice what to look for ? thanks

ProfitPotential · April 17, 2019, 11:47am

Honestly, I think your chart is too busy.

Only half your space is dedication to price and I cant really make out what your criteria to buy or sell is from everything else.

In my opinion, BTC is going lower…

Previous support could become resistance. If the price pivots there, we might see another wave down to retest the recent lows.

Im not sure what that would mean if you are trading a crypto vs crypto.

artawidi · April 17, 2019, 12:00pm

I notice u use OBV so i upload mine,

TradeViper · April 17, 2019, 12:32pm

The Horror

Oh yeah, get that worthless volume off the chart would be a start.

The Ever Apocalyptic VIPER

justshell · April 17, 2019, 1:12pm

i agree, your charts should be very clean and empty lol best way too focus on price action

AUdvantages · April 17, 2019, 5:19pm

I agree with that resistance line.

kevala · April 18, 2019, 9:56pm

no One
many indicators make you confuse, undecided, and you will lose confidence , be more clean boy, there are so many hidden clues in a clean chart…

coeurdelion · April 19, 2019, 9:31am

Thank you all for your opinions

I tried to follow your advices, I think it’s a little bit better and cleaner. I don’t delete the indicators below because I don’t really know how to spot good chart patterns so if I delete that it will be really empty (except the falling wedge but I’m not sure if it’s correct)

My criterias to buy are : - been making higher lows since 12 sept 18
- bullish indicators
- falling wedge

If we test multiple times a resistance it’s likely to break on the upside ? In that case s/r flip at 0.786 in the next 3 months also because of fundamental news coming out in 2 months and that way it will continue to make higher lows. OFC it will all depend on btc.

pips88 · April 19, 2019, 12:11pm

I can understand your dependency on the indicators. I used to clogged my chart with lots of it.

Concerning myself with those hundreds, thousand pips range… Before that even worst.

Now my chart look like this below.

I now only look at the latest trend, that 50-100 pips range.

It’s easier to make up my mind.

Hope this helps.

Happy Trading.

Br,

Molly141 · March 16, 2020, 4:28pm

There is a lot going on here really good efforts though