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RE: 12/9/2017 The Market View and Trading Outlook
Well done man, we have similar approaches, just quick question, are you using Elliot Waves and Pattern recognition techniques?
Well done man, we have similar approaches, just quick question, are you using Elliot Waves and Pattern recognition techniques?
Honestly, I subscribe to the KISS method (Keep It Simple Stupid). I look at overall market health, volume action, MACD, Stoch RSI, trend etc. I have been most successful with using the 12hr, 1d MACD Histogram as my trend indicator and playing within that. I'm not a HODLER, I trade in and out.. I have looked at Elliot wave but I see the same thing when I look at the 3day MACD and Candlesticks with Fibonacci Retracement. I understand Elliott wave theory 5 up 3 down, but it does not dictate my trading style as I am in and out of positions out of positions in all wave phases. My best friend for intraday is Fibonacci. It's rare that I will go to sleep with Coin in hand unless I'm riding a 4 hour trend and in a solid position as I was with 350 LTC at $95.20 on Thursday night. After years of staring at the charts, you begin to read it and your brain can process all the information on the screen in short order as a total sum of all that is occurring without having to drill down each indicator.. For me reading Candlesticks and Intraday charts are like this: