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The Market Is Tricky

  • #141
  • Jul 4, 5:38pm (20 hr ago) Jul 4, 5:38pm (20 hr ago)
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  • #142
  • Jul 4, 7:46pm (18 hr ago) Jul 4, 7:46pm (18 hr ago)
Bitcoin strength at 03:44, for careful testing.
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  • #143
  • Jul 4, 11:45pm (14 hr ago) Jul 4, 11:45pm (14 hr ago)
It's too soon to say if Bitcoin works with this indicator but if price reaches these levels, I would say to continue testing the strength/weakness. However, even if the weakness/strength is not reliable, the location of BTC reading will still be reliable at identifying when price s likely to move in one direction or the other.
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  • #144
  • Jul 4, 11:46pm (14 hr ago) Jul 4, 11:46pm (14 hr ago)
Here are the BTC trades so far, taking the BTC strength at 03:44 according to here https://www.forexfactory.com/thread/...9#post15788119 with indicator analysis starting at 03:00.
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  • #145
  • Jul 5, 12:07am (13 hr ago) Jul 5, 12:07am (13 hr ago)
I personally don't think Bitcoin will be reliable with this type of analysis to identify strength/weakness, but this is fine because when there is an indicator reading for Bitcoin, it will still identify the area where trade can be taken in either direction. It will be a matter of identifying whether the price is currently in a breakout in order to just make an entry, or if the price is in a range and to place pending orders for a breakout.
  • #146
  • Jul 5, 2:56am (10 hr ago) Jul 5, 2:56am (10 hr ago)
Price hasn't quite reached the first horizontal line but if it does, I would say testing the strong/weak for Bitcoin is still valid on this indicator. Here are the trades so far.
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Click to Enlarge Name: Panel_QMWLH7.png Size: 6 KB
  • #147
  • Jul 5, 11:28am (2 hr 23 min ago) Jul 5, 11:28am (2 hr 23 min ago)
How can I purchase your tool? What is the best way to contact you?
  • #148
  • Jul 5, 11:31am (2 hr 20 min ago) Jul 5, 11:31am (2 hr 20 min ago)
Quoting FlavioCSS
How can I purchase your tool? What is the best way to contact you?
No need to purchasing anything now. You can test it for free to see if it works for you. The only thing I ask since it's free, is that you provide feedback on it. How you used it, any setups you found with it, etc.
  • #149
  • Jul 5, 11:35am (2 hr 16 min ago) Jul 5, 11:35am (2 hr 16 min ago)
The reading for Bitcoin works a little differently. For Bitcoin, the strong/weak is not reliable I think. What is reliable is certainly the timing. So when Bitcoin gives a reading, then what I've been doing is to wait for the current H1 candle to close, and then I take the opposite direction of the closed H1 candle. It might sound crazy but this seems to work so far due to the timing feature. For example, the indicator recently gave a BTC strong reading (I ignored the strong part), then I waited for the current H1 to close (it closed green), so I took sell. Here are the current sell trades.
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  • #150
  • Jul 5, 11:45am (2 hr 6 min ago) Jul 5, 11:45am (2 hr 6 min ago)
Could you send me the indicator for testing? Where can I find it?
  • #151
  • Jul 5, 12:05pm (1 hr 46 min ago) Jul 5, 12:05pm (1 hr 46 min ago)
Quoting FlavioCSS
Could you send me the indicator for testing? Where can I find it?
I'm working on making it available on a webpage for free testing. I've been working on that all day today setting up the server, etc. There are some cosmetic issues that I still need to fix but it should all be finished soon. In the mean time, I'll post screenshots of the FX readings for testing starting shortly after 03:00 Tokyo open on Monday.
  • #152
  • Jul 5, 12:18pm (1 hr 33 min ago) Jul 5, 12:18pm (1 hr 33 min ago)
Just a tip: I believe taking signals at the market open tends to yield better results more frequently. I prefer to trade the daily candle open on Exness—or the 3:00 AM open on other brokers—by identifying strength or weakness during the Asian session and holding the position until the London open; that’s a holding period of roughly 12 hours. The New York session, on the other hand, involves a lot of market manipulation that can hinder performance. The plan is to run just one currency portfolio per day, opening at the market open and holding for 11 to 12 hours.
  • #153
  • Last Post: Jul 5, 12:26pm (1 hr 25 min ago) Jul 5, 12:26pm (1 hr 25 min ago)
Quoting FlavioCSS
Just a tip: I believe taking signals at the market open tends to yield better results more frequently. I prefer to trade the daily candle open on Exness—or the 3:00 AM open on other brokers—by identifying strength or weakness during the Asian session and holding the position until the London open; that’s a holding period of roughly 12 hours. The New York session, on the other hand, involves a lot of market manipulation that can hinder performance. The plan is to run just one currency portfolio per day, opening at the market open and holding for...
Yeah, these are good insights. It's a matter of testing it out. Whatever works. Sharing ideas sparks new ideas for anyone reading, and then they'll build something and eventually share it too, and so it goes.
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