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RE: Bitcoin (BTC) Evening Update: Path to Higher Highs
Try the Vegas Wave, it's also worth googling it - on tradingview, enter it into the search, otherwise unfindable - the Madrid is cluttering up my screen too much, I don't find more than 5 MAs very useful and the Madrid ends at 90 where I would have hoped for a 200.
As to secret sauce, TA works because everybody is minding th levels. Meaning, the more know them, the more they get respected, and the more they are likely to hold. Not reasonable ?
I like haejin but I've seen him go from sheer Elliott Wave to triangles ("I don't use Fibonacci"), then to Fibs, and the rest - wondering when he will find out about the Gann square ;)
Tried and it is signalling clearly the trend, but not shorter term. Being built for 1 hour chart 3-4 days to wait for a clear signal is too slow for me.
The guppy seem to give earlier signals in several degrees, but need some time to understand them fully before I make it of permanent use or drop it.
The Vegas Wave is just 3 boring MA's but the guppy reminds me of the aquarium I had in the young days :)
I wouldn't be steeming had it not been for Haejin and his explainations of EW. My goal was understanding EW and then I go to the best in that area.
You have to adapt it, I always change the inputs-and I can enter what I like for the three waves while for the other one I can't . Then again this is about the seventh time that I'm trying to use MAs and for short term I really prefer Bollinger bands.
I don't get more out of BB than when things are going to happen, not what.
Wich Madrid have you tried? I've never looked at them.
The superguppy contains MA from 3 to 200, and a couple alerts.
I use the one from JustUncleL in tradingview.
I'll try that one tomorrow... the bb must be used in conjunction with the trend, there will always be a few hours up and a few down every day... just stay with the ups, and the elliott waves, best at a 15 minutes scale down to even three, maybe one hour max but its not really useful above that.
You can often see exactly when a 12345 starts, the problem, is that you gain very little om such short frames and in choppy market ;)
Its hard work.
I appreciate your explainings.
Daytrading IS hard work indeed. I used BB when trading stocks, but the other tools we had at the stock exchange was crude at most.
Tradingview is really great with all the tools and indicators, most of them new for me.