Manufacturing data, non-small farmer employment, CPI interest rate cuts, there is so much information that I can’t figure it out??
If you can't determine the trend from naked K like me, this article will teach you how to establish the trading trend.
Let’s start with the actual data https://x.com/0x_Asan/status/1832060131049357684
Direction: Sky
Product: BTCUSD CM
Exchange: Binance
Opening point: 56830
Realized positions: 67%
Indicator assistance
Open Trading View and enter [pulu’s moving average] in the technical indicators
Trading View Index Introduction to the principle
This indicator is a deformation of the Vegas channel. Just like an ordinary MA, the current situation is judged by the K line being higher or lower than the moving average within a certain period of time. The trend is established by the short, medium and long moving averages. Due to the parameter design ( Please find the principle yourself), widely applicable to 30min, 1h, 4h, 12h, 24h and weekly lines.
Data interpretation
After Bitcoin fell below 50,000 on 8/5, it rose to 61,700 on 8/9 and continued to fluctuate for a period of time.
It pulled up strongly to close to 65,000 on 8/24, then fluctuated all the way down, and officially opened the door on 8/28.
*Please refer to the technical specifications for painted doors.
https://x.com/0x_Asan/status/1828552697668354545
The above two paragraphs tell you that Bitcoin seems to be expected to reach a new high on 8/24. At this time, if you refer to the first step [pulu's moving average], you can find that the short MA has never flipped upward, which means that the trend is unresolved. At this time you have the following options:
Find a high point to sell the currency and hold U to celebrate the New Year
Go short at a high point (don't all-in your wealth)
Therefore, you can wait for the K line to break through the 12MA upward or for the short divergence to touch the first short MA...etc.
Any rise is regarded as a short point. It depends on personal confidence and position management.
This actual order is the result of short selling after a strong rise on the night of 9/6 (1H)
1H
Making good use of MA can give you direction when your thoughts are confused, and the Vegas-like channel can increase your trading confidence. Of course, position management and stop loss planning in the trading category are also very important. Okay, The above is one of the ways to establish a trading trend. If you don’t know much about trading or want to understand more operating techniques, please continue to follow it.
By the way, here are the top ten misunderstandings in trading. How many have you won? I’ll have a chance to talk about it another day.
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