I have revised this post originally published yesterday, which I needed to make some modifications. I have learned new information about Big money flowing from one coin to another, and I decided to use a more fair comparison using two different exchanges of the same coin.
Here I explain the process which I am currently going through to find an edge in the market. I have gone from comparing altcoins such as ZEC IOT EOS with Bitcoin, and realize that it may not be the best way to use as 'confirmation signal'. This morning I looked at different exchanges, and shown my process with a live trade :)
So far my analysis, I am comparing charts from different exchanges:
Bitfinex from Hong Kong
Coinbase from US
Bitstamp from Slovenia
Cexio from UK
OKCoin from China
OKCoin vs Bitfinex chart comparison
OKCoin hitting resistance at blue line, Bitfinex not ready to short yet. Notice what happened at 4:30am
Drawing a Line of support for OKCoin, preparing for a trade
Break Out also a possible alternative
Looking like it is ready going to break down, judging price action
Screenshot of my current live trade
I will update later on how this trade turns out. This trade was done using the $500 account setup, which I am planning to keep transparent.
Hope this helps a bit. I'll see if I can think of other tips or strategies I employ that might prove helpful to others.
p.s. @miha9 I've made changes to the post, just so you are aware :)
Great! Thank you for your efforts!
Looking forward for new posts in that series.
Thanks! I am still trying to figure out which charts work best side-by-side. I did get stopped out on this trade, BTC is consolidating at the top. This is an example on looking for an edge, other alternative charts can be used but hope this serve as an example on how to go about find an edge. Never ending learning, hopefully not confusing people here :)