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Hi ,  are you sure swing trading is not just about catching the 'swing', no matter the time frame whether it be 1 hour or 1 month, or whether it be based on Elliott wave ABC, or even just 'buy the dip'. As an intraday trader I am always looking for swings, it is the rhythm of the auction.

 

There are only trend followers (as am I) or reversal (counter trend) traders who are looking at predefined levels for price to reverse at, but trend followers are by far the majority.

 

The interesting point of the blog was drawing attention to a potential price action signalling to a turn of swing and entry to join a continuation with trend.

 

The inside bars show indecision similar to a doji but the twin tails show a real attempt to drive to new direction, if that tight tight grouping of price action (in that particular situation) is overwhelmed (by bulls or bears) it is a good indication to the direction of next leg. 

 

I was happy to post it as I recognised it to have validity based on my own experience and is well worth to experimenting with by traders on all time frames. 

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Fair enough, I think essentially we all trade the same way which ever time frame you choose. Investors buy and hold but traders buy and sell and so would aim to buy low and sell high, during a trend that means taking advantage of the down swings in order to ride the upswings but each time frame has it's own rhythm within the large scale swings that can be seen on a monthly chart. The time frame a trader uses depends very much on circumstance and preference.

 

Counter trend traders are also trying to buy low and sell high by using higher time frames to identify potential turn points that have been used in the past by institutional traders and where unfilled orders may still exist, a large clump of waiting orders on a price ladder is support or resistance.

 

For any new traders reading, this is an interesting piece on choosing which time frame suits best, 

 

https://www.tradeciety.com/best-timeframe-trading/

 

 

 

 

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  • 4 weeks later...
Guest PandaFace

What are people’s thoughts on technicals for ether? How would you attack it? Let’s say on the following timeframes

 

1 hour

4 hour

Daily

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Firstly I would keep a sharp eye on btcusd, the correlation has been noted before on another thread and looking at the two charts side by side that correlation continues, looking at individual large bars btc still leads the way though the gap has narrowed.

 

The 4 hour is still below the 100 and 200 ordered ma's so the general outlook must be bearish, price is currently retesting a strong support/resistance level so watch for a possible turn around here.

 

The 1 hour shows price attempting to break up past resistance but still trapped below the 200 ma and also between two mini range blocks so has a lot of work to do yet if it's to continue up.

 

The general bias must remain bearish at least until a break above 616 but if btc turns down this looks sure to follow.

 

 

B&E1day.PNGETHUSD(£)H4.pngETHUSD(£)H1.png

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Guest PandaFace

I think you’re right. BTC continues to dominate.

 

From ETH perspective on the daily you have the 20 EMA moving through both the 50 and 100, and it’s honing in on the 200 real quick. The 50 is basically kissing the 100 as well right now. Not good.

 

However rsi is sat below 30, and MACD at -80.

 

On the 1H were about at the spike down back from Feb 6th, retested on 15 Mar so it would be good to break here and get back to the mid 600’s range.

 

If not I’d settle for the consolidation back in the 800 - 900 range ;)

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Guest EA-trader

Why are these people not making money from trading? Why are they selling education?The only money these people are making is from selling courses on their site.If they can't do it, how can new traders do it?

 

 

All these educators failed at trading themselves, due to trading mindsets.No point in trying to  hide the truth.

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Guest EA-trader

Hide the truth and sell education. I pity the poor suckers who go to charlatan educators.

 

You can't even answer that .The only book I recommend to traders  is"death of a snake oil salesman".It is must buy for new traders.

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