@victorious__5@Chroma_Trading If price was gonna break down to $113k, you would expect that it would've broken down after the pre-FOMC responsive price action.
We're now seeing limit bids supporting price on the DOM, so next destination is likely $120k, then shallow pullback, then blast past ATH
#ETH#TOTAL2
Crazy run on ETH over the past few weeks.
Looking like a free ride until ATH where I'll be looking to play defensive.
Total2 chart adds a layer of confluence to the idea.
Until then, game on.
$BTC
Expecting BTC to start building value in $110k - $115k this week before deciding the next move. Best to be cautious when getting into positions.
$FARTCOIN is a lot cleaner. Back above monthly open is a mean reversion back into the inefficiency area before lower.
@MacroCRG@OxonTrading Exocharts shows the buildup of OI on a granular level. Can see here that the vast majority of OI buildup on $BTC here is new shorts
Essential Tools
Value
Bare minimum for my trading is Volume Profile & Vwap, this is how I determine "value"
Volume Profile
Use Case: Trade Locations
Types: Fixed Range, Fixed time & Visible Range
Application: @tradingview
Vwap
Use Case: System selection, Directional bias & Location
Settings: Time-based, Rolling and Anchored
Application: @tradingview
Orderflow & Liquidity
Reading flows requires from combination of Takers(market orders) & Makers(limit orders)
My personal choice is Orderbook/Heatmap in combination with simple volume/delta
For perp flows I also use Open Interest go gauge how people are positioning & general risk levels in the market
Orderflow & Liquidity
Use Case: Trade execution(confirmation for the noobs)
Taker Flows: @tradingview & aggr
Maker Flows: TBD
Spaghetti
Asset filtering is essential in crypto where majority of coins are duds. Spaghetti is how I find strong coins
Spaghetti
Use Case: Filtering for strength & weakness
Application: @tradingview
Closing Thoughts:
This briefly covers the tools I NEEDand the tools I want
If this post gets a lot of engagement I'll do follow up for each tool with full breakdown from settings to trade setups
Press like
Cheers
Link every screenshot of your trade trigger into an excel file. A lot of trade triggers begin to look the exact same, so start categorising them into different categories based of the nuances between them. Once you get the result of the trade/feedback, make note of if it won or lost.
Now you’ll be able to begin to calculate the probability of the trade moving in your favour based on the trigger type and be able to identify your A+ setups clearer.
This is what I do and it works
$TON
Momentum strategy.
Looking for a H4 close outside of this range for continuation higher, which is also a HTF throwback into distribution.
Price likely to cut through this area which has a Daily & Weekly FVG.
$TON
Momentum confirmed.
I will be writing a thesis on this strategy over the next few days for anyone to download for free. Will pin it to my page once its ready.