Technical Analysis Chart Patterns with EngineeringRobo

Technical Analysis Chart Patterns with EngineeringRobo

By EngineeringRobo | EngineeringRobo | 13 Oct 2020


Who wins in a fight: Fundamental Analysis or Technical Analysis?…

 

The answer is that they are not really competing concepts.

Kind of like Batman and Robin. They’re both heroes on the same team.

The problem is that most traders misunderstand this. They think they must choose one or the other.

 

Here’s how it actually works:

Fundamental analysis tells you which currency pair to trade, when to trade it and in which direction.

Technical analysis tells you at which price to enter and exit your trades.

The big mistake most traders normally make is that they try and do everything depending on the news.

They are literally risking their money because a news article tell them what to do with their money …. It sounds insane when you think about it.

This lack of confidence leads to very common mistakes.

EngineeringRobo is designed to help you understand when currencies are moving. It tells you when to buy and when to sell. It’s that simple! When you enter a trade based on a proven track record of success…. You naturally have confidence.

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Does Technical Algo Analysis Work?

Technical algo analysis is a helpful tool that can be used by traders to make calculated and risk-controlled trades on a consistent basis. Of course, it is not without its limitations and it important for the user to know these limitations.

You should also make sure that your trading is done in a systematic manner. Be disciplined around where you are placing your stops and how you are exiting your positions. The crypto markets are not a casino.

In the end, technical analysis & EngineeringRobo are so important tools. The usefulness of the tools depend almost exclusively on how the tools are being used.

 

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You should always start to draw downtrend lines from the highest hill level to the second highest hill point!

The line extension should go to the future — not the past dates.

Two hills are enough to draw the downtrend lines. (or 5 weekly touch points )

You dont need to hurry to buy it as long as the candle is below the downtrend line.

The best buy levels :

1) At the support level

2) When the candle breaks up the down trendline

3) With EngineeringRobo’s buy signals

 

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You should always start to draw uptrend lines from the lowest reverse hill level to the second lowest hill point!

 

The line extension should go to the future — not the past dates.

 

Two hills are enough to draw the uptrend lines. (or 5 weekly touch points )

 

You dont need to hurry to sell it as long as the candle is above the uptrend line.

 

The best buy levels :

1) When the candle touches the up trendline

2) With EngineeringRobo’s buy signals

The best sell levels :

1) When the 1D or 1W candle open close breaks down the up trendline

2) With EngineeringRobo’s sell signals

 

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🟥 Support and Resistance strategy

If you look at the chart it does not move randomly, or sudden up and then sudden fall, it follow certain trend and what that trend is accumulation of Bitcoin . When you see the price moving up it continues uptrend for certain period similarly if it seen moving down it will fall till the price range where there are buyers. Once it reached these zones you see sudden turn in the prices, that is the place when you have to enter into the stock and ride on it till the trend completes.

 

🟧 Time Frame

When you look at the chart always watch in candlesticks and look at the higher time frame meaning around 365 days chart, watch it in 1D or 3H candles. This will help you to know where there are more buyers and sellers. The higher the frame, the less chop there is.

 

🟩 Technical Patterns

On a very basic level crypto chart patterns are a way of viewing a series of price actions which occur during a coin trading period. It can be over any time frame — monthly, weekly, daily and hourly. The great thing about chart patterns is that they tend to repeat themselves over and over again. This repetition helps to appeal to our human psychology and trader psychology in particular.

 

🟦 Trade with trend

You cannot predict trends but you can follow them forever. Good trends don’t come along every day — It will take some time to catch good market trends. The good news is that if you learn how to recognize and get aboard them, you’ll be ready for when they do. You’ll limit your losses in less than ideal conditions and do extremely well in great conditions.

 

⬛️ EngineeringRobo 🤖

The Engineeringrobo is a great ally in all financial markets — when the price moves the algorithm will automatically show Buy and Sell orders when there is a best opportunity to make a profit. It is a just SMART trading script on TradingView that brings the easiest approach to trading with a high profitability rate.

 

Its unique algorithm find profitable coins, stocks and commodities based on their Ichimoku , VPVR, ATR, Fibonacci Levels, McGinley Dynamic, Moving Averages, RSI , MACD , Stochastic , Bollinger Bands , Volumes and Price Changes to give you entry and exit ideas.

 

To get future updates, follow us on…

 

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Website: https://www.engineeringrobo.com


EngineeringRobo
EngineeringRobo

EngineeringRobo is a Robo Advisor that uses a computer program that follows a defined set of instructions to create successful entry and exit ideas to users!


EngineeringRobo
EngineeringRobo

EngineeringRobo is a Robo Advisor that uses a computer program that follows a defined set of instructions to create successful entry and exit ideas to users via 3rd party charting website, tradingview. It doesn’t have to think or feel good to make a trade. If conditions are met, It enters. When the trade goes the wrong way or hits a profit target, It exits. It doesn’t get angry at the market or feel invincible after making a few good trades. That’s why it makes money but most of you not!.

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