Vector Candle Reversals are very powerful. That's why I had this indicator made.
Look at $AXS here at it's peak price. How many Bullish vs Bearish VCRs do you see? If i'd had this indicator at the time I would have called a dump incoming on it.
Background: I've been working on an indicator for the Vector Candle Reversals I talk about. Many of you know they're a key part of my strategy.
If you've been following me for a while you'll know how powerful these Vector Reversals can be
So the indicator is almost good to go - it's 99% finished
However that's not the cool part.
The cool part is setting up alerts to send instantly to Telegram (with charts) whenever they occur. I have different groups for timeframes and type of reversal - ie 1hr/4hr, bear/bull.
BUT there are 16 possible conditions for alerts to fire.
Aaaaaand 400 allowable alerts / 16 conditions = would only allow for this to be set up on 25 coins max 🤦♂️
Because of this I had to implement some tricks to get around the 400 alerts limit allowed by TV 🤔
1/ As it stands: We're still in this range. Now at range low. Over the past few days we've seen aggressive pushing down with absolutely no relief. However, we're literally at the bottom of this range so i'm not looking for shorts at the moment. $Btc #Bitcoin
2/ Moving to the high tf we see a red vector on the daily, and 2 pinks vectors on the 12hr. The last 12hr being pink and not pushing down beyond the lows makes me think they're just building long positions and by aggressively dropping price are trying to scare retail into selling
3/ Max pain for options expiry for 30th Dec (ie today) is 48k (image 1). And with it being Thursday i'm always looking for a reversal in the New York session.
Max pain for 31st of Dec is 47k (image 2). Then we have a clean slate to work with for 2022.
1/ As much as I’m able to call the tops and bottoms of Bitcoin I find that I struggle with Altcoins. Partly because I try to keep my eye on too many. It means I often get a poor one-time entry or else get too greedy when thinking of where to take profits
2/ Then I get annoyed because a) sometimes I’m stuck in a losing position for a bit without wanting to add to it cus I’ve already gone in big and b) when price retraces from highs I’m left feeling like I didn’t take enough profit
3/ To sum it up I can usually call the direction right on Altcoins but my entries and exits are usually poorly timed due to FOMO. Something we all suffer from. I’m fine with these things on Bitcoin but that’s because I literally know that chart inside out. I watch it 12 hrs a day
I try to show you my thinking process throughout the whole move. I don’t just draw a squiggly line on a chart. I give reasoning and projections with high probabilities.
I want people to learn along with me - seems many of you are doing that and it makes me very happy!
I’m going out for the evening. I’ll be keeping an eye on what they do with Bitcoin. If they do start coming down towards those lows again with aggression I will look to cut my long. However, I think the storm has been weathered and they’re just trapping more shorts atm
For what it’s worth Thursdays are usually reversal days. I’m slightly cautious about there being a full on reversal today. All I’m looking for them to do is shift it out of this zone a little bit. But i do think we’re at the bottom.
The only place i think they could potentially come back to is this green vector. There is still the possibility they sweep the lows of this range to get this. I’m not fudding - we just have to be aware of the possibilities