LTC/BTC Right Now
So there was an entry point but it is near reaching the ovebought level and IMHO should peek soon as seen on the chart. The MFI is shoing that the limits are near for what the trading pair can do this short run. Looking at the chart I missed the entry this time around and will be watching until the next entry point as the best time to sell will occure shortly unless an unforseen breakout drives the price up, out, and away from the current channel.
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About My TA
So I have been asked to explain my TA and where I enter/exit. So as you can see by my chart I use Heikin Ashi Candles along with MFI, RSI, Volume and I toggle BB to help double check.
The Helkin Ashi helps me see the general up and downs which simplify it for me instead of my mind battling red and green alternating candles. It is a different type of candle but still plots the Highs & Lows, Correct Price, and is accurate. Simply it shows ups and downs simplier for my mind to group data.
When I see the MFI and/or RSI dip below the channel it is undersold. To find the best entry point (show on chart as Buys = Green Arrows | Sells = Red Arrows) wait for the line to enter the middle channel again and that is your buy/sell point. As you can see by the arrows, there is an easy enter and a few selling points in a row. This happens. Same with Buying at times, but that is just the market, It isn't perfect.
I toggle on the BB to see where there could be a tight width indicating breakouts during time of observation, but my main purpose is to double check my RSI and/or MFI entry/exit points. When the candles go outside the lines of the BB -> do exactly the same as the MFI/RSI indicators and wait for it to rejoin normal limits. That is how I find my entry/exit points and how I double check it with 2-3 TA telling me to make my move.
As you can see sometimes it doesn't oversell or undersell to have the market swing, nor does it always hit all the indicators sometimes. That is why I use the 3 in combo along with channels to help predict bounces and breakouts within identified channels.
Drawing lines and finding levels where coins have shows to hit but not pass are support and resistance -> often showing channels or smaller sub channels within larger channels, helping make my decisions and also letting me be able to shut it off and go to sleep knowing what my position or even if I don't have a position until a pattern or entry point presents itself.
So there was an entry point but it is near reaching the ovebought level and IMHO should peek soon as seen on the chart. The MFI is shoing that the limits are near for what the trading pair can do this short run. Looking at the chart I missed the entry this time around and will be watching until the next entry point as the best time to sell will occure shortly unless an unforseen breakout drives the price up, out, and away from the current channel.
---------------------------------
About My TA
So I have been asked to explain my TA and where I enter/exit. So as you can see by my chart I use Heikin Ashi Candles along with MFI, RSI, Volume and I toggle BB to help double check.
The Helkin Ashi helps me see the general up and downs which simplify it for me instead of my mind battling red and green alternating candles. It is a different type of candle but still plots the Highs & Lows, Correct Price, and is accurate. Simply it shows ups and downs simplier for my mind to group data.
When I see the MFI and/or RSI dip below the channel it is undersold. To find the best entry point (show on chart as Buys = Green Arrows | Sells = Red Arrows) wait for the line to enter the middle channel again and that is your buy/sell point. As you can see by the arrows, there is an easy enter and a few selling points in a row. This happens. Same with Buying at times, but that is just the market, It isn't perfect.
I toggle on the BB to see where there could be a tight width indicating breakouts during time of observation, but my main purpose is to double check my RSI and/or MFI entry/exit points. When the candles go outside the lines of the BB -> do exactly the same as the MFI/RSI indicators and wait for it to rejoin normal limits. That is how I find my entry/exit points and how I double check it with 2-3 TA telling me to make my move.
As you can see sometimes it doesn't oversell or undersell to have the market swing, nor does it always hit all the indicators sometimes. That is why I use the 3 in combo along with channels to help predict bounces and breakouts within identified channels.
Drawing lines and finding levels where coins have shows to hit but not pass are support and resistance -> often showing channels or smaller sub channels within larger channels, helping make my decisions and also letting me be able to shut it off and go to sleep knowing what my position or even if I don't have a position until a pattern or entry point presents itself.