Using Fibonacci Retracement Levels with Price Action ...

How to Develop a Profitable Bitcoin & Altcoins Daytrading Strategy - Fundamental & Technical Analysis - An Intermediate Tutorial

Abstracted from my blog post. Read the Full Post at: http://alunacrypto.blogspot.nl/2014/03/how-to-bitcoin-altcoins-daytrading-fundamental-technical-analysis-profitable-trading-strategy.html. Follow me on Twitter for my latest Bitcoin/Altcoin trading advice @onemanatatime (https://twitter.com/onemanatatime).
Fundamental Analysis
I believe that for an Altcoin to be worth anything at all, it MUST first have technical aspects which are built with the future in mind. This is what solely determines if a cryptocurrency has the potential for the mid to long term. Even with 5 new altcoins launching everyday, you barely see 1 a month that can last even the mid-term.
Then, after that I judge the coins based on 7 mediating factors; developers, community, branding/marketing, popularity/virality, novelty, infrastructure, and liquidity. For more about fundamental analysis and an explanation of these factors, read up on the first few sections in my previous post about picking and trading the next profitable altcoin. In this post, I will focus more on technical analysis and trading strategies instead.
With so many coins out there, I like to use these above factors to weed out all the weaker shitcoins, and focus on altcoins which are substantially different from others, and more importantly, provide more value than other cryptocurrencies. After which, I use Technical Analysis to judge entry/exit positions for trading them.
What else do you think makes a cryptocurrency fundamentally better than another, and more sustainable as a currency?
Technical Analysis
Many will probably agree when I say that the Altcoins market is akin to the "penny stocks" of cryptocurrencies. In this sense, most altcoin markets have much lower liquidity, but have much higher volatility. Since there are over 200 different cryptocurrency markets to date, I prefer to narrow down my list of altcoins to a small handful, and buy under-valued coins or trade the breakouts. You're going to find it really tough to be watching more than 5 altcoins at the same time, so I highly suggest keeping your list small, and adapt your watchlist to the fast changing markets.
If you're new to technical analysis, here's a really good beginner's video on daytrading Penny Stocks, which also explains the basics of chart reading and an introduction to basic trading jargon that I'll be using throughout this post. The important concepts to take note of are resistances & supports, breakouts that coincide with high volume, and the general idea that "what goes up must come down". See video here: http://www.youtube.com/watch?v=HYK2a77TjvU
So after you get the basics sorted out, you should be ready to learn how to trade! I'm gonna break this intermediate technical analysis tutorial down into five main portions, and have compiled videos from other trading experts to give even beginners a better overall idea, and teach you all you need to know to devise your own Bitcoin & Altcoins trading strategy.
1. Top Down Analysis
Firstly, lets look at the top down analysis method of reading charts. I always begin by trying to understand the market from a bird eye's view. Compare both charts from a long term period (e.g. 1d) against one from a shorter period (e.g. 15m) to get a holistic view of the market. This will help give you a general perspective of market trends, while peaks & troughs give you an idea of market resistances & supports.
Use these basic resistance & support levels to judge entry/exit prices. In general, previous high and low points are new resistances or support depending on where the price is, and points where u can see big breakouts will be the new short term resistance/support. To get a better idea of what I mean, watch these videos by Jason Stapleton who explains top down analysis, resistances & supports, and structure.
http://www.youtube.com/watch?v=M9yCc7lD21Q
https://www.youtube.com/watch?v=tJmMU-8yicM
2. Retracements
The concept of retracements is, in my opinion, the most important one that any trading enthusiast must grasp in order to understand how the markets flow. In essence, a retracement is a temporary price movement against the established trend, and helps us understand that the markets move in wave patterns as highlighted by the Elliott Wave Theory. One way to look at it, as highlighted by this video below, is that most price-actions follow a pullback rule to fibonacci retracement levels (38%, 50%, 62%).
http://www.youtube.com/watch?v=7VSWqM0jfIQ
The most important concept to take away from this is "what goes up must come down"; that price movements in one direction are always followed by retracements in the opposite direction. Of course, not all movements will follow the same pullbacks, and these levels should only be used as a guide. Here's another video: "Understanding Fibonacci retracement lines: https://www.youtube.com/watch?v=KzHjxPxGzMw".
So the question then is, how will we know if this counter-movement price action is a retracement or a reversal? There is no way to say for certain...
Read the full post on my blog at: http://alunacrypto.blogspot.nl/2014/03/how-to-bitcoin-altcoins-daytrading-fundamental-technical-analysis-profitable-trading-strategy.html.
3. Trading on Volume
Another important concept you need to understand is that large price movements almost always coincide with high trading volume.
With this in mind, this is where the liquidity of an altcoin also comes into play; the higher the trade volume of an altcoin, the lower the spreads, and the more likely you will be able to make some profitable trades from it. In general, the trade volume is a good indicator of, and is proportional to the popularity of the altcoin at the current time.
Apart from the actual trading volume itself, another good indicator is the change in volume over time; if you realize that the trading volume of an altcoin has been steadily increasing over the last few days, it could be an indication that a big price movement is coming up.
4. Breakout Patterns
The last concept I want to share is breakout patterns. Although most people are familiar with this concept, many do not know how to profit from them. This is one of the best tools to use for planning your entry positions, while there are various ways to do so, which are highlighted by these first two videos below:
https://www.youtube.com/watch?v=6YZ4ORz-UJ0
http://www.youtube.com/watch?v=3gN-6D8nH0E
5. Advanced Trading Strategies
Now comes the fun part: how can we take all that we've learnt so far and put into good use for trading Bitcoin/Altcoins? Here are some pointers for you:
In the next videos, more advanced trading strategies and chart patterns will be shared. These strategies may seem very specific, but my goal is to give you better understanding of how these analysis tools are used, and to give you an idea of how different tools can be used to develop a single trading setup. The specifics are not important; what I hope to achieve is to open up your minds to new ideas, expand your trading knowledge, and ultimately encourage you to explore a diverse variety of trading strategies.
Read up more on some of the main ideas discussed:
Others
Read the full post on my blog at: http://alunacrypto.blogspot.nl/2014/03/how-to-bitcoin-altcoins-daytrading-fundamental-technical-analysis-profitable-trading-strategy.html. If you'd like to discuss any ideas or have burning questions, feel free to email me at alvinlee133(at)gmail.com or hit me up on twitter @onemanatatime.
P.S. If you're new here, make sure to check out my previous posts about Bitcoin & Altcoins daytrading: http://alunacrypto.blogspot.nl/2014/02/how-to-pick-trade-next-profitable-altcoin-bitcoin-daytrading.html http://alunacrypto.blogspot.nl/2014/01/beginners-guide-margin-trading-bitfinex-exchange.html http://alunacrypto.blogspot.nl/2014/01/embarking-on-my-bitcoin-trading-journey.html
P.P.S. If this post helped you, feel free to buy me a cup of coffee!
Cryptsy Trade Key: 9c1e289981a685bf0b8a4e48bc00b35eb1380afa
BTC: 16ka98tnhs9fAjWEXRmEWVrPfTEwmr9orV
LTC: LW4qr8aSfgTwGuU6uvEjnhNKRyJJR9iUbR
submitted by bakedric3 to CryptoMarkets [link] [comments]

Fibonacci Retracement For Beginners (Forex Trading Tutorial) Traden lernen: Video 6 - Fibonacci Retracements [HD] - YouTube FIBONACCI FOR BEGINNERS  FOREX TRADING (Part2) Lesson 4 Fibonacci Retracement Forex Fibonacci Retracements and Extensions in MT4/MT5 ... Forex Razor - MT4 Indicators - Fibonacci Retracement Ultimate Guide to Trading Fibonacci Retracements ...

In the example above we can see that if we use the Fibonacci retracement tool to measure the last swing made into the high, the 78.4% retracement sits just below the 38.2% retracement of the ... Forex Scalping Lessons ... Fibonac! ci Trading Video Youtube Fibonacci Retracement In Hindi Technical Analysis Tool Trading Chanakya Analyzing A Forex Fibonacci Retracement Strategy Tradinformed Wie Du Fibonacci Retracements Im Trading Nutzt Anleitung Was Ist Fibonacci Trading Erklarung Der Retracement Strategie The Best Fibonacci Retracement Trading Strategy With Video ... The Complete Fibonacci Trading Course is designed to provide you with a profound, highly profitable system and 'copy & paste' guidelines for trading with Fibonacci levels. In this course, you'll master how to use proven Fibonacci trading techniques with the most powerful trend following indicators, candlesticks, and chart patterns so you can easily identify market trends and directions. The truth is Fibonacci retracement levels have been adapted for use in the Forex market, but they were never intended for this use. They were originally applied to everything from studies of the universe to defining the curvature of naturally occurring spirals, such as those found in snail shells and the pattern of seeds in flowering plants. Forex trading lessons (videos) An introduction to forex trading (8:07) ... Strategy: How to use the Fibonacci retracement indicator (5:59) This video demonstrates how to use the Fibonacci indicator. The Fibonnaci indicator is useful as it provides you with retrace levels (for both pullbacks and throwbacks) which provide you with optimal entry points. Strategy: Using a hedging technique to ... Apr 8, 2012 - Fibonacci retracement calculator for Forex currency trading, trade examples, free technical analysis lessons Fibonacci Retracement Forex Strategy How To Find Best Entry Levels. January 30, 2020 admin Forex For Beginners 13. Previous. BMO Financial Group To Acquire Clearpool For Algorithmic Trading Tech – Bank of Montreal (NYSE:BMO) Next. Oil Price to Stage Rebound on Textbook RSI Buy Signal. 13 Comments Trading Walk says: January 30, 2020 at 12:55 am Thanks for watching! Do you have any question ... Chris Svorcik is a forex trader who often uses Fibonacci trading. He says that traders can use the Fib method, but says ... Fibonacci retracement levels are used by many retail and floor traders [3], therefore whether you trade using them or not, you should at least be aware of their existence. Some advanced traders will take it a step further and add Fibonacci arcs and Fibonacci fans to their ... Wednesday, 20 March 2019. Fibonacci retracement indicator video forex lessons Fibonacci retracement levels are considered a predictive technical indicator since they attempt to identify where price may be in the future. ... we see that price found some temporary forex support or resistance at Fibonacci retracement levels. Because of all the people who use the Fibonacci tool, those levels become self-fulfilling support and resistance levels. If enough market participants ...

[index] [12012] [20911] [25626] [17611] [8398] [5580] [16456] [27335] [27119] [2209]

Fibonacci Retracement For Beginners (Forex Trading Tutorial)

Want to trade like the professionals? Join our Free webinar to get our FREE Order Flow trading strategy. See within the candles as institutional traders do! ... Hierbei handelt es sich um eine kompakte Lern-Video-Reihe zum Thema Trading, Investieren und Charttechnik. Die Videos enthalten konkrete Praxisbeispiele, Lit... www.forexcellence.trade Fibonnacci Retracement for beginners. Learn how to use the Fib tool in MT4 and which levels are the most important. make sure you subscribe to my channels for forex lessons ... #forex #forexlifestyle #forextraderWant to join the A1 Trading Team? See trades taken by our top trading analysts, join our live trading chatroom, and access ou... IN THIS VIDEO I WILL SHOW YOU - FIBONACCI RETACEMENT HOW THEY WORK, WHAT THEY DO, AND HOW WE CAN BENEFIT FROM THESE SIMPLE STEPS TO PROFIT OFF THE FOREX MARKET DAILY. PLEASE LEAVE A LIKE AND A ... This video addresses the Fibonacci retracement levels as a forex or currency trading indicator - what is the Fibonacci number and how are retracement levels ... Welcome to Part 2 of our Fibonacci for Beginners intro segment. When it comes to using Fibonacci retracements in Forex, its important you know how to draw them for accurate trade entries.

https://arab-binary-option.backpretaladen.tk