SCMR Analysis Suite Product REVIEW - live in the TV App Store!
It's been a while since I've been able to publish any trade setups or ideas, but let me assure you... it was worth the wait and you wont be disappointed.
This chart illustrates the newest system to grace the TV app store, "Analysis Suite - SCMR Trends" and how I used it to dominate this H&S trade setup... and basically every other trade I've taken in the last two months. It will be a staple of all my published charts going forward so it only makes sense that I give you a run down on what you'll be looking at. It is unquestionably the best thing to happen to my trading since candlestick charts.
The H&S trade setup was pretty obvious, although I don't know that many took it (if at all) with the same confidence that I did. You can see how I determined my target levels- pretty standard: Distance from peak of the "head" to the "neckline" , drawn as measured moves from the peak of the right shoulder (target #1) and then from the neckline itself (target #2). The "SCMR Dynamic Levels" plot clearly identifiable support and resistance areas. By definition they are dynamic, meaning they *can* move, be pushed or be erased by follow up price action. However, the algorithm which plots them does so based on known market supply and demand levels, eliminating the guess work regarding strength and location. Monthly levels are stronger than weekly; weekly stronger than daily, etc. In this chart, the Dark Red circles are the monthly dynamic resistance and the smaller Pink/Red circles are the weekly.
When price broke the neckline that was my signal to get short. But where to do it now that it's already happened? I never chase price, so I waited for my entry, which as you can see came when we pulled right back into the weekly resistance level (about $394), where I entered short with zero hesitation. Price tanked and I was making BTC hand over fist. My target #1 was tapped, but not filled then price started ranging. Is it reversing? Will it continue going up?? The candles were all over the place and largely gray (signalling indecision) but all guess work gone when the new Dynamic level had printed resistance and we broke out of the range to the down side. With the "SCMR Trends", The candles change color indicating trend, trend strength and helps to alert you to trend change so you don't miss the trade entry or exit. The "SCMR B2B" helps to qualify or disqualify trend changes and reversals so you're less likely to get left holding the bag on a fake-out. The last Blue reversal candle is where this trade ended. I had already achieved my exit level but waited for confirmation in the form of the reversal candle to close my short for target #2, giving me maximum profits and not leaving anything on the table by closing early.
Full disclosure: I am *not* being paid or compensated for promoting this product or this system. I was given a demo copy for review prior to official release and all of the above analysis was based on that less refined "beta" version. The SCMR suite comes highly recommended and is an extremely high quality product that I encourage you to explore. The value is self evident. If you have questions send a PM to @SPYdyerCrusher or click on the "Indicators" button at the top of your chart and find "SCMR Analysis" under Marketplace Add-Ons.
~Cheers!
This chart illustrates the newest system to grace the TV app store, "Analysis Suite - SCMR Trends" and how I used it to dominate this H&S trade setup... and basically every other trade I've taken in the last two months. It will be a staple of all my published charts going forward so it only makes sense that I give you a run down on what you'll be looking at. It is unquestionably the best thing to happen to my trading since candlestick charts.
The H&S trade setup was pretty obvious, although I don't know that many took it (if at all) with the same confidence that I did. You can see how I determined my target levels- pretty standard: Distance from peak of the "head" to the "neckline" , drawn as measured moves from the peak of the right shoulder (target #1) and then from the neckline itself (target #2). The "SCMR Dynamic Levels" plot clearly identifiable support and resistance areas. By definition they are dynamic, meaning they *can* move, be pushed or be erased by follow up price action. However, the algorithm which plots them does so based on known market supply and demand levels, eliminating the guess work regarding strength and location. Monthly levels are stronger than weekly; weekly stronger than daily, etc. In this chart, the Dark Red circles are the monthly dynamic resistance and the smaller Pink/Red circles are the weekly.
When price broke the neckline that was my signal to get short. But where to do it now that it's already happened? I never chase price, so I waited for my entry, which as you can see came when we pulled right back into the weekly resistance level (about $394), where I entered short with zero hesitation. Price tanked and I was making BTC hand over fist. My target #1 was tapped, but not filled then price started ranging. Is it reversing? Will it continue going up?? The candles were all over the place and largely gray (signalling indecision) but all guess work gone when the new Dynamic level had printed resistance and we broke out of the range to the down side. With the "SCMR Trends", The candles change color indicating trend, trend strength and helps to alert you to trend change so you don't miss the trade entry or exit. The "SCMR B2B" helps to qualify or disqualify trend changes and reversals so you're less likely to get left holding the bag on a fake-out. The last Blue reversal candle is where this trade ended. I had already achieved my exit level but waited for confirmation in the form of the reversal candle to close my short for target #2, giving me maximum profits and not leaving anything on the table by closing early.
Full disclosure: I am *not* being paid or compensated for promoting this product or this system. I was given a demo copy for review prior to official release and all of the above analysis was based on that less refined "beta" version. The SCMR suite comes highly recommended and is an extremely high quality product that I encourage you to explore. The value is self evident. If you have questions send a PM to @SPYdyerCrusher or click on the "Indicators" button at the top of your chart and find "SCMR Analysis" under Marketplace Add-Ons.
~Cheers!
