Hey guys, just joined the group a few days ago and am excited to be here. Up until I downloaded MC, I made about 5 or 6 swing trades this year and lost every single one. This was my first trade since downloading MC. I bought a small amount of BTC back in 2017 but never did any active trading until a few weeks ago. This group does an awesome job at inspiring new traders and giving insight on where the market is going next. The future is bright, BTC to the moon!
The Blue Triangle is a trend reversal indicator that includes a possible reversal of the previous trend. This indicator is intended as an early warning that the trend momentum is decreasing, and a reversal is near. The Blue Triangle should be used together with the other indicators of Market Cipher A to provide further confirmation.
The Green Dot on Market Cipher A is a bullish indicator and is most reliable on a 6-hour time period and higher. This indicator normally follows a Blue Triangle and should be interpreted over a range of 1 - 3 candles. Normally a breakout is probable when the next 1 -3 candles print a Yellow Diamond. If the next 1 - 3 candles print a Red Diamond the breakout is less likely.
Red Diamonds are trend strength indicators. Red indicates a trend may be weakening. This indicator should be used together with the EMA ribbons giving a further indication to trend directions. Consideration should be given to the color and band separation of the ribbons.
The Red X is a Bearish indicator. This indicator is used together with the EMA Ribbons and the Red Diamond indicator. The most effective usage of the Red X is when it follows the printing of a Red Diamond and the EMA Ribbons are nearly fully constricted changing to the bearish gray color. The accuracy of this indicator varies with time period.
Yellow Diamonds are trend strength indicators. Yellow indicates bullish continuation. This indicator should be used together with the EMA ribbons giving a further indication to trend directions. Consideration should be given to the color and band separation of the ribbons.
The Yellow X is a bearish indicator and is intended to indicate high volume long covering that is rapidly bought up and sold short. This market condition also presents a possible opportunity for whale traders to exaggerate the condition by manipulating the rate of buyback indicating a possible bottom or reversal to breakout traders. This in turn supplies local liquidity then the whales reverse position forcing the market lower. The Yellow X is most reliable on the 1 hour and above time periods.
“Be fearful when others are greedy, and greedy when others are fearful."