Felix000
Long

#Bitcoin like the MACD Bull set-up Daily chart

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Right, so here is my new maverick gameplan. Looking first at the daily MACD . We had a down close day (red bar) but the MACD bar closed up (marked with green verticle). That is the the set up key for days which close down. Next we need to develop a trigger and a strategy in this case we take the close of the following day which closed higher than the opening of the red bar (for a trigger the next bar or following bars must always close higher or lower than the red bars high or low). The opening of that 'green bar' day then becomes our stop point (marked with green arrow pointing upwards on the chart), and we are ready to go long. I'm not going to predict where to take profit or where to get in once stop point is confirmed as everybody will have their own ideas. You may prefer to devise a strategy for when the stop gets hit by a close down day.

I've got differently coloured horizontal bars in the chart and they correspond with Fib levels of the William Fratal boxes which I like to construct. I've also got a 5 day moving average plus an awesome oscillator . Will also be putting in some trend lines into the chart as and when, maybe in my next posting. My weekly chart is bullish (see previous posting). White vertical lines in the MACD represent cross overs.
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