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RE: STEEM: 1-DAY MACD could be about to go green (soon!) on poloniex.

in #trading • 7 years ago

very interesting! The MACD is my favorite indicator actually, helped me when trading stocks. I still dont really know if you can trust technical analysis in the crypto market... anyways, good work.

7 years ago in #trading by
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     7 years ago  

    Thanks!!

    In crypto, I pretty much exclusively use only EMA switch-over and MACD switch-over for trying to figure out up or down direction.

    For trying to predict break-outs and bounces, I also use b-bands, Fibonacci, and 'triangle patterns'.

    Both EMA and MACD can prove wrong, of course, but if they are both positive on many or critical time frames, I take this as increasing my odds that I choose the right way!

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     7 years ago  

    Interesting. When I studied those indicators, I learned that MACD and EMA are only applicable in times when prices follow a trend. If they dont, the indicators were said to be useless. So do you only use it when eg the bitcoin price is following a trend? Cause the last days/weeks it was sooo volatile, I couldnt see any clear trend, at least not on an hourly basis...

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     7 years ago (edited) 

    But since BTC and ETH, for example, reached their tops, we move into a considation period. During this time Fibonacci is really useful for guessing what level of retrace we get. BTC bounced at around the 50% level; ETH bounced at around the 50% level a few weeks earlier, and since that didn't hold I was completely expecting it to hit the next fib level down at around $150 (it went slightly lower, but still close). Once all this bouncing stops, then I agree, EMA and MACDs will be the things I'll be looking at more than Fibonacci or triangle patterns.

    But still, EMA and MACD are always important too I'd say. The complication right now is that they are sending conflicting signals. The 1-day charts are very bullish imo (MACDs just gone green & EMAs holding); whereas the 1-week charts are very bearish (MACDs just gone red)! Because of this my plan right now is to only do limited trading, I.e. Trading bounces, but not looking to follow the trend because it isn't clear yet imo!!

    Update: Just noticed after that segwit spike, the 1 week MACD for BTC is back to green again :). Can it last? I really don't know :)

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     7 years ago  

    thanks a lot, your answer made things a lot clearer to me.

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