I would just like to say thank you to everybody who has taken the time to read this post.
It means alot to me that my work here is seen and read, even if it is only read by one or two people.
I personally have only been trading crypto for a couple of months now, but have linked up with a really good instructor who is teaching me all of the correct habits the first time around.
I would like to introduce everybody to the method that I personally use to trade bitcoin.
I only use one indicator on my charts, and it literally has everything I need to make a decision.
THIS IS KNOWN AS TDI - TRADERS DYNAMIC INDEX
The following is a link to a video that takes the time to explain everything in depth.
With that out of the way, I just wanted to let everyone what I see when I look at the current bitcoin chart from Friday, February 2nd.
For anyone curious, these are the settings for the setup I have on screen.
Now that everybody is on the same page, I would like to explain in depth why I have not been trading for the entire month of January.
When we look at RED LINE, or the FAST MOVING AVERAGE, then we see how it came up and tapped the ORANGE LINE (OVERALL MARKET TREND), and continued in its downward path.
Now, lets look at the GREEN LINE, or SLOW MOVING AVERAGE. We can clearly see that the slow moving average is below the overall market trend.
Based on all of the information that I presented here, I have made the decision to stay away from the volatility of of Bitcoin until I see the criteria needed for my market entry.
QUESTION OF THE DAY: What course has everybody taken in order to learn Technical Analysis?