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The Andrews Pitchfork shows the slope of price very well. On this Pitchfork I think that the 25 and 75 lines are much more important than the Upper parallel.
Unfortunately I was away from my computer when it spiked (when Japan and Korea wake up) and I did not have a take profit order .
But you can see that it got support from the 75 line of the pitchfork .
A return to this line would be a good entry point. Enter at 146 with stop at 143.
https://www.investopedia.com/terms/b/basecurrency.asp
The first currency in the pair is the Base currency.
The second the quote or cross
ETH was my favorite holding currency and where I held my reserves. So I charted all my trades against this. If the currency was not expected to out perform this. However has had a great run . But on January 11 I noticed a divergence between ETH and NEO . You can see from the photo that Neo is climbing up the slopes and ETH is capped by the same slopes.
Of course if this changes then I will change . It is about following the capital flows. Note the recovery in NEO after December 19. Compare this with BTC
Current target is 200. To be revised
Unfortunately I was away from my computer when it spiked (when Japan and Korea wake up) and I did not have a take profit order .
But you can see that it got support from the 75 line of the pitchfork .
A return to this line would be a good entry point. Enter at 146 with stop at 143.
https://www.investopedia.com/terms/b/basecurrency.asp
The first currency in the pair is the Base currency.
The second the quote or cross
ETH was my favorite holding currency and where I held my reserves. So I charted all my trades against this. If the currency was not expected to out perform this. However has had a great run . But on January 11 I noticed a divergence between ETH and NEO . You can see from the photo that Neo is climbing up the slopes and ETH is capped by the same slopes.
Of course if this changes then I will change . It is about following the capital flows. Note the recovery in NEO after December 19. Compare this with BTC
Current target is 200. To be revised
交易進行:
Above sentence should read-
If the currency was not expected to outperform ETH then I would not take it. In other words XXXETH should be an upwards slope
If the currency was not expected to outperform ETH then I would not take it. In other words XXXETH should be an upwards slope
手動結束交易:
Momentum was extreme and I felt that I should get out at this point, since I will be away from internet for 12 hours. I think that this trade has a little more to run. Don't get greedy.
The trade as posted here earned 23 percent in 12 hours
The trade as posted here earned 23 percent in 12 hours
交易結束：目標達成:
We traded 197 which was very close to our target of 200.
相關想法
@roshansoyza,
Hi, I think that I will be trading crypto very little for the next 6 weeks. See the article that I published on Gold/Bitcoin today.
I believe that we will have a consolidation and contraction of the market for the next few weeks, followed by a gradual recovery
Hi, I think that I will be trading crypto very little for the next 6 weeks. See the article that I published on Gold/Bitcoin today.
I believe that we will have a consolidation and contraction of the market for the next few weeks, followed by a gradual recovery
回覆
Perhaps a Schiff pitchfork is better than an Andrews pitchfork in this case.
When charting currencies metals and stocks I rarely use a Schiff pitchfork, but one pattern that I see frequently here is a breakout from a Schiff pitchfork followed by a retracement to it and sometimes through it. This happened with XVG, TRX, ADA to name a few