Namaste,Hello,Konnichiwa!
Here is another exciting day to learn something new!Previosly I had explained What is
The ADX/DMS tool of Bittrex is ?
You can find it here. ADX/DMX tools of Bittrex 1
Now, Todays coin is MONA coin. I have taken three chart to analyse .
1. 30mins. Chart.
2. 15mins.Chart
3. 5mins. Chart.
And setting for ADX is for a period of 14 days.
Below are the pictures .
Region1 :30 mins. Chart
As evident from the picture, the vertical lines is our point of region.
There is a trend and +DI is above -DI. So bascially, there is a trend .Evidently,
The trend is a three high trend.
Region 1 : 15 mins Chart
Region 1 : 5 Mins chart
As seen from the 5 mins chart, it is clear that , there are lots of noise for a five minutes chart.
For a long term investment, it is good to see, 30 minutes chart then 5 mins. But for minute basis trading,
It is good to go for a 5 mins chart.
**Conclusion **
Now let us look at the current trading of MONA coin. With the skills, lets try predicting
The next move.
Please note , the prediction may be false as I have not taken into account of support regions and volumes effect.
This is just the beginning of the tutorial where I feel that systematic learning each tool and gaining mastery over their usage in combination will provide a better option for getting better at trading!
As the trend for bearish trend(i.e downtrend is strong as given by ADX black curve), it is anticipated that
The curve will go further down on a long term . It is surviving with its support at 0.0005700 , but I suspect
That the curve will go down as the momentum is against it !
Have a great day ahead.
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Just seeing how this works :-)
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this is great @OriginalWorks