At MTT, we’ve changed our strategy and reinvented our approach to provide reports that are easy to understand and utilize for your strategies and education.
Just one of the changes? MTT has a new swing trading strategy to help you profit. Swing trading is a popular strategy aiming to capture medium-term gains in the market and unlike day trading, involves holding a position for a few weeks to take advantage of market fluctuations.
Today we’ll focus on which technical analysis and tools we use to help to implement this new approach.
HPL – Historical Projection Levels
Just one of our secret weapons…and the most accurate level detection tool that uses historical data to establish our accurate swing trade levels. Candles cannot resist these zones and need to touch them.
The Detonator
The is the proprietary indicator from the BitcoinTAF.com Ultimate Trading Course, which includes a selection of 23 indicators working in confluence with deadly accuracy. This is our go-to main indicator at MTT.
Fibonacci Retracement & Extensions
Fibonacci retracement is a technical analysis tool that uses horizontal lines to indicate areas of support or resistance at the key Fibonacci levels before the price continues in the original direction. The Fibonacci levels are derived from the sequence, a series of numbers, where each number is the sum of the two preceding numbers. Traders use Fibonacci retracement to identify potential entry and exit points. For example, if the price retraces to the 38.2% Fibonacci level, it could be a buy signal, and if it retraces to the 61.8% Fibonacci level, it could be a sell signal. However, we have recently seen a phenomenon where Fibonacci has become less and less accurate so we now combine HPL levels with Fibonacci to increase accuracy.
Pattern Analysis
We regularly use Trendlines and Pattern analysis to plan and accurately determine our levels. Pattern analysis in trading identifies and interprets recurring patterns or formations in crypto charts. These patterns are created by the price movements of a particular asset over a specific period, and they can provide traders with valuable insights into potential future price movements.
There are various patterns that traders look for when analysing charts, including:
1. Head and Shoulders: A bearish pattern that consists of three peaks, with the middle peak being the highest (the “head”) and the two others being lower (the “shoulders”).
2. Double Top/Bottom: A bearish or bullish pattern that consists of two peaks (top) or two troughs (bottom) at roughly the same level, with a price drop (top) or rise (bottom) in between them.
3. Wedge: A pattern that can be bullish or bearish and looks like a triangle. It forms when the price is moving between two converging trend lines.
4. Flags and Pennants: Short-term consolidation patterns indicate continuing the trend. Flags are rectangular, while pennants are triangular.
5. Triangles: Patterns that can be bullish or bearish and form when the price moves between two converging trend lines, with one being a horizontal support or resistance level.
We at MTT can make more informed decisions about our report levels by analysing these patterns. It’s important to note that pattern analysis needs confluence and should be used with other analysis techniques and risk management strategies.
We use these, along with market knowledge and a whole lot of discipline to help to implement this new approach and these new MTT strategies have proven to have great success and gains so far. Proper risk management and a thorough understanding of the strategies can increase your chances of success as a swing trader.
Swing trading can be profitable if you have a solid understanding of the market and the discipline to stick to your plan. Training is essential, and we highly recommend the BitcoinTAF.com Training courses such as the HODLNOTS Scalp Trading Course and The Ultimate Trading Course to help you on your Journey.
Welcome to the NEW Cryptocurrency Medium Term Trade Reports
For more information;
Medium Term Trade Reports (MTT) – https://projects-dev.bitcointaf.com/product/medium-term-crypto-trade-reports-from-scbg
and want to know more about chart patterns;
BitcoinTAF.com Chart Patterns – https://projects-dev.bitcointaf.com/product/ultimate-chart-patterns
