Technical Analysis AMA: Let's Look at Some Charts and Make Some Predictions | Trading For The WinsteemCreated with Sketch.

in trading •  8 years ago  (edited)

Let's test our Technical Analysis chops!

What is Technical Analysis

Submit a comment with an Analysis Request (details below) or if you just want to ask questions about technical analysis/general market concepts, that's great too.

Analysis Requests

Include in your comment: Symbol/Exchange/Trading Time Frame
(ex: BTC-STEEM/Poloniex/15m)

Expectations

I 'm not going to be correct 100% of the time but I will be explaining my thought process and how I'm using studies/indicators (feel free to agree/disagree in replies). We will know if we are wrong soon enough :)

My Background

I've been doing technical analysis in traditional financial markets (stocks, futures, options) for a few years and have been trading crypto-currencies for a few months now.

I'm familiar with various useful studies and have coded custom studies (based on MACD, ADX, Bollinger Bands, Ichimoku, etc...) for my prop trading group.

Interesting Fact

This is my first STEEM post.

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8 years ago by

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      ·  8 years ago (edited)

    Comments on BTC/ USD After drop to ~$2150

    Penant pattern.....get ready for breakout after this low volatility zone (hint: can tell volatility by small candle size and contracting range)

    Few dimensions to look at, at the same time for trend change detection:

    • Price usually drops on high volume...then volatility drops and price rises on lower volume relative to drop...

    • Hammer (small top with long tail) is one part of the signal that trend may change direction...the rest is in volume

    • High volume green hammer followed by low volume selling..is sign of sellers being weak...

    • Multiple tests of old support levels from hours/days/weeks ago (if it can't break support, we are going up).

    ---- also volatility says a lot about which part of the trend we are in but we only have few tools to really assess it ...for now just have to look at candle heights and contracting range.

    • In the future, when crypto has derivatives...we can utilize historic volatility, implied volatility and imp. vol. % rank of the derivatives to find bottoms in underlying... gives us 3 dimensional view of volatility

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        ·  8 years ago 

      I suggested buying at $2200 in trading room hours ago.... Last call to to get on board right now... train is about to leave soon $2349 is going ... BYE BYE

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          ·  8 years ago 


        Updated - Time has passed and the first graphics' lower line ignored a long green candle tail...(mistake).

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