Jan 31st 2020, Crypto Chartbook – Turning point entry timing

Turning point entry timing

A turning point in most cases isn’t evolving from a down to up price movement. There is a sideways period, an entry zone rather than a specific price. Prices meander around for a period of time. It is obvious that, just because a certain price level has been hit, does not mean it is a good time to enter a trade. Unfortunately this is the most common methodology applied to the market. How to improve high probability turning point entry timing?

There is one rule of thumb:

  • there are more profitable trading systems for smaller time frames, that use early entries (at the beginning of the sideways period)
  • and there are more profitable trading systems for larger time frames, that use late entries (at the end of the sideways period)

We post both aggressive early and confirmed signals live in our telegram channel.

Bitcoin Weekly Chart – Second Leg Up:

BTCUSDT weekly chart as of January 31st, 2020

BTCUSDT weekly chart as of January 31st, 2020

Second legs are more often than not the longest in duration and length. Length meaning price extension. Many larger time frame players enter a trade, if the time frame below their exposure time frame has a confirmed second leg entry.

Bitcoin Weekly Chart – Solid Support And Confirmed Break Out:

BTCUSDT weekly chart as of January 31st, 2020 b

BTCUSDT weekly chart as of January 31st, 2020 b

The weekly chart above shows a breakout through the directional resistance trend line (A), which now has become support. It also illustrates the seven weeks support building base (B) near the US$7,000 zone. This support is cemented in addition by the double bottom spikes to the 0.618 fibonacci retracement level (C). Representing another layer of a supply and demand zone.

 



 

Bitcoin Monthly Chart – Turning Point Entry Timing And Breakout Entry Confirmed:

BTCUSDT monthly chart as of January 31st, 2020

BTCUSDT monthly chart as of January 31st, 2020

With this month ending, charts show confirmation  for a higher time frame long trade opportunity. If you trade higher time frames, trade longer term futures or use a cloud mining service, the first week of the month of February provides entry opportunity.

Turning point entry timing

There is no need to be the first who is pushing the entry execution button, if you are trading higher time frames. Just because the market hits a certain price level, does not mean it is the best time to enter. Quite the contrary, for longer term players the odds stack in favor waiting for prices to go slightly higher after the typical preceding sideways trading period.

All charts timely posted in our telegram channel.

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About the Author:

Outstanding abstract reasoning ability and ability to think creatively and originally has led over the last 25 years to extract new principles and a unique way to view the markets resulting in a multitude of various time frame systems, generating high hit rates and outstanding risk reward ratios. Over 20 years of coaching traders with heart & passion, assessing complex situations, troubleshoot and solve problems principle based has led to experience and a professional history of success. Skilled natural teacher and exceptional developer of talent.Avid learner guided by a plan with ability to suppress ego and empower students to share ideas and best practices and to apply principle-based technical/conceptual knowledge to maximize efficiency. 25+ year execution experience (50.000+ trades executed) Trading multiple personal accounts (long and short-and combinations of the two). Amazing market feel complementing mechanical systems discipline for precise and extreme low risk entries while objectively seeing the whole picture. Ability to notice and separate emotional responses from the decision-making process and to stand outside oneself and one’s concerns about images in order to function in terms of larger objectives. Developed exit strategies that compensate both for maximizing profits and psychological ease to allow for continuous flow throughout the whole trading day. In depth knowledge of money management strategies with the experience of multiple 6 sigma events in various markets (futures, stocks, commodities, currencies, bonds) embedded in extreme low risk statistical probability models with smooth equity curves and extensive risk management as well as extensive disaster risk allow for my natural capacity for risk-taking.

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