maybe a distribution top. we are now in a continuation pattern that will maybe break down lower, or test the prev break down level.
코멘트
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if we keep going down maybe 15xx is a decent buy for a retrace up. not sure. im watching.
코멘트
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not rushin in. ill watch.
코멘트
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got greedy, #xtz entry was supposed to be 15xx
anway, it i was scalping and got in there, id getout around here 177x.
ill continue to watch. 17xx may be new support. i want to see what price does, ie goes and makes 183x new support, or goes back to 17xx and grinds down.
코멘트
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"if i was scalping"
코멘트
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when 1800 support, (which is being attacked now as resistance), i expect this to continue up. bit scary tho with btc moving, lets see what happens.
코멘트
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press play a couple times, and we are at a simialr location again. get some sideways and then more up would be nice.lets see what goes on. currently watching this (and similar looking coins), rep, atom, dcr. and a bunch of others that are structurally/trending differently.
코멘트
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oops, shared wrong link, others were some fractal checking i was doing. this is the xtz one
the blue and yellow bars on the side have something to do with volume right? how do you apply those to determine entry/exits?
Noobincrypt
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@bit_Chipper, i was gonna write a bunch of stuff but probably easier if you take a look here tradingview.com/wiki/Volume_Profile also you can google some uses of vol profile. basically its a support and resistance tool based on the vol traded in an area, to see what was bought and sold in an area, and then have some idea what will happen at/above/below those areas.
Some other guys now doing day trading on sierra charts and others which show the actual values of orders in each candle, taking it up a notch. For now TV just calculates averages in an area, which is generally good enough for me.
bit_Chipper
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@Noobincrypt, that is interesting thanks for the info!