Massive switch thrown on ETHUSD
My previous linked idea was when the switch was flipped on the weekly and that post was late. The signal came in at about $250, my post was at about $350. This post is likewise a couple of days late and about 25% after the pump, but there is still a whole lot of upside.
The system is pretty simple. There is the Volatility stop, the Multiple Time Frame Volatility stop set to 3x the present timeframe, and then there is the 20 period SMA. When all three are bullish on high time frames you should have a great entry to go long as you have cleared most long term resistance. If you want to buy things that are trending upward in a macro then you buy when the black dot in the blue ball appears, with price action above the 20, and a bullish VSTOP like it did two days ago. Last time that happened price went up about 180x and then the exit sign came in at a mere 60x. The exit sign would have been closing with a loss of one or two indicators on the close. You could keep an overall bias but when you lose the Volatility stop you go to a lower timeframe and look to buy the dip. If you loose the 20 or the MTF then it is close to rotating out to something else.
The system is adaptable of course. If you want to be a value investor on a project you have faith in you will be buying when everything has flipped bearish.
I am going to be viewing everything since March 2020 as part of wave 1 so I won't be worrying to much about selling this position until after I see two long consolidations lasting over 6 months as they should represent waves 2 and 4 respectively of your basic Elliot wave theory.
My main bet is ETH, and it has been ETH for a while now. I bought some XRP when I thought it was trending and then I bought the dip as I thought it was over-punished but that was some play money. A look at ETH.D, the Ethereum dominance chart shows that it just flipped all three switches of this system on the weekly timeframe (on the left). The weekly MACD is about to swing up bullishly and the on Balance Volume is about to stack bullishly as well. The monthly ETH.D situation has been bullish since early 2020. I think we could easily see ETH.D return to 24 or 32 as it steals dominance from everyone else.
The system is pretty simple. There is the Volatility stop, the Multiple Time Frame Volatility stop set to 3x the present timeframe, and then there is the 20 period SMA. When all three are bullish on high time frames you should have a great entry to go long as you have cleared most long term resistance. If you want to buy things that are trending upward in a macro then you buy when the black dot in the blue ball appears, with price action above the 20, and a bullish VSTOP like it did two days ago. Last time that happened price went up about 180x and then the exit sign came in at a mere 60x. The exit sign would have been closing with a loss of one or two indicators on the close. You could keep an overall bias but when you lose the Volatility stop you go to a lower timeframe and look to buy the dip. If you loose the 20 or the MTF then it is close to rotating out to something else.
The system is adaptable of course. If you want to be a value investor on a project you have faith in you will be buying when everything has flipped bearish.
I am going to be viewing everything since March 2020 as part of wave 1 so I won't be worrying to much about selling this position until after I see two long consolidations lasting over 6 months as they should represent waves 2 and 4 respectively of your basic Elliot wave theory.
My main bet is ETH, and it has been ETH for a while now. I bought some XRP when I thought it was trending and then I bought the dip as I thought it was over-punished but that was some play money. A look at ETH.D, the Ethereum dominance chart shows that it just flipped all three switches of this system on the weekly timeframe (on the left). The weekly MACD is about to swing up bullishly and the on Balance Volume is about to stack bullishly as well. The monthly ETH.D situation has been bullish since early 2020. I think we could easily see ETH.D return to 24 or 32 as it steals dominance from everyone else.
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