phillo
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Posts posted by phillo
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On 06/06/2022 at 18:46, MongiIG said:
Hi @BDLLTD
Thanks for sharing the Bitcoin development.
Is now the time to buy the dip?
Is ‘Buy the Dip’ a good strategy? Which is based on an assumption price drops are temporary aberrations that correct themselves over time. Dip buyers hope to exploit dips by buying at a relative discount and reaping the rewards when prices rise again.
All the best - MongiIG
maybe it has lower to go ?
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3 hours ago, MongiIG said:
Thanks for sharing and keeping track of CAD/JPY @phillo
The cross of the two moving averages could possibly be the start of a downward trend for CAD/JPY ?
Was the crossing of the moving averages your signal confirmation to sell and if the trend continues downward, what levels do you think it will reach ? ?
All the best - MongiIG
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8 hours ago, RomPathsSwap said:
certainly getting near a level of potential resistance
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I use moving averages ( please don't ask which ones ) , then mainly market structure things like previous order blocks, imbalances, gap fills etc
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the main thing is , they give you the basis to start looking deeper into analysis. Another saying is, when doing analysis, always start with the higher time frame first & then drill down to lower time frames to find specific entries. So a clean chart on a higher time frame isn't enough on it's own , in my opinion , but as you say, they can provide the backbone of technical analysis
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I use it on any time frame , but the higher the better in my opinion as serious attention is needed on say one minute or less - I find it works best in fx
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with regard "Wyckoff" here's a video I found useful in explaining it . n.b., some say you can see wyckoff everywhere, I guess it just depends on the time frame you're using ???
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looking at a monthly chart, you wouldn't think it would. the "wedge has broken to the downside, however there is what some may consider previous support around here ??? . Further downside could be into that brown rectangle ( an old order block ? ) . While the Fed are raising rates, the ECB still are unable to get past the "talking about" phase, & remember they are still doing QE !!!
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British financial experts: BTC will reach $200,000 in five years!
in Cryptocurrency and Blockchain
Posted