After reading series of books on trading I find that realistically (other than EMA/SMA) none of the indicators give us significant enough leverage to place trades with confident levels. I still like the ADX. Stochastics and RSI as both directional and volume indicators. Buying APPL in here is nothing short of madness. Just compare this chart to BTC from late 2017. If we go from here downwards we might witness an enormous size of descending triangle with a possible bottom at the end of wave 5 of a smaller time frame Elliot Wave count. Of course on the way down there's really strong 100 and most importantly 200 EMA which historically were unbeatable, but let's be honest here - market's change.
That's really long term view here and I didn't take under consideration timing, only possible drop levels from where we're at - at this very moment. Hopefully to holders I'm wrong - hopefully to shorter's I'm not.
That's really long term view here and I didn't take under consideration timing, only possible drop levels from where we're at - at this very moment. Hopefully to holders I'm wrong - hopefully to shorter's I'm not.
