Elliott Waves – Sounds boring, right? I can assure you it’s not…

Somebody called Ralph Nelson Elliott, who was a lot smarter than me, worked out that that all tradable assets on the stock market move in waves. This was I believe in the 1930’s way before the time of Bitcoin and cryptocurrency.

The good thing for us though is that the same trends still occur in cryptocurrency trading. Why? Well, it is all to do with everyone looking at the big chart together.

When we’re all working out our support and resistance lines, and looking at channels etc, we’re all buying and selling at particular points.

This creates a “wave” effect and equals an increase in price and retracements.

Continue reading “Elliott Waves – Sounds boring, right? I can assure you it’s not…”

I’ve got me a TradingView chart. What do I need next, what are these indicator thingamajigs?

The main thing when trading (or looking to buy a cryptocurrency at a really good entry point) is that you’re going to want to identify the direction that a coin is traveling in. Now, even though this sounds easy I can assure you it really isn’t.

Cryptocurrency like all markets is 50/50, most of the time. Either traveling up or down.

There can be times though when a coin just travels sideways, known as “Bart” or “Barting”. This kind of sideways action gets its name after the Bart Simpson character’s hair style. Short movements moving only slightly up and down for a period of time.

Continue reading “I’ve got me a TradingView chart. What do I need next, what are these indicator thingamajigs?”