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Right now we will focus on the Heikin Chart. Its your job to research the main purpose of this chart.

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On the daily chart for XRP, notice we have plotted two green candles following a plethora of red. We need one more green candle to confirm a possible uptrend. With this type of chart, you look for patterns. Had people watched this chart during the dip, they would not have bought XRP starting January 8th (first red candle). The Heikin is extremely accurate and the above XRP example is spot on. In order to buy XRP, you would wait for three consecutive green candles and buy on the third or fourth day (depending on how much risk you are willing to take). Following along with this chart would have prevented new investors from buying in @ $3.

In other words, if the third candle after the two most recent green ones turns out to be red.. you start over and wait for the chart to plot another group of three green candles. Works very well, although as said above.. not 100% accurate. 

Starting to see how it works?

Edited by XRPto50dollars

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4 minutes ago, ytterligare said:

Two questions :

1) what is the time scale...2h ?

2) is Heikin chart available only on Tradeview ?

 

Thanks for the explanations !

A.

I think he uses the day chart.

Heikin Ashi is standard in Tradeview, go to interactive chart choose barstyle... Heikin Ashi

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12 minutes ago, XRPto50dollars said:

n. In order to buy XRP, you would wait for three consecutive green candles and buy on the third or fourth day (depending on how much risk you are willing to take). Following along with this chart would have prevented new investors from buying in @ $3.

Sorry, I don’t get this ;  before it hit $3 , there were three consecutive green candles, or not? So how could following the chart prevent someone from buying at $3? What do I miss here?

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17 minutes ago, XRPto50dollars said:

Right now we will focus on the Heikin Chart. Its your job to research the main purpose of this chart.

Never been much into TA:s and other stuff like that.
But I instantly fell for checking the Charts.
My chart Reading has developed a lot during 4 months. Did not know it had a name -  the Heiken -  because it is similar to what I have learned after 6-8 hours Chart reading in 4 months.
I have used my method to constantly buying as low as possible. My Base view for decsions has been 5 min Chart, switching to 30 min and daily and then place buy limit orders.
And I have been rather rewarding. Of course not always hitting the lowest low. But always made good Buys. And if the trends where changing just cancelled and rethink.
Gotta to check the Heiken reading further.
Thank you @XRPto50dollars

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6 minutes ago, Ripple-Stiltskin said:

Ok,thanks,  thats clear enough. And what is the signal to start if someone wants to buy the dip? Three consecutive red candles? 

LOL @Ripple-Stiltskin you can ask me. I have constantly been doing great low buys. Or just change the buy indicators in the latest post to do not Buy, and Vice Versa.
And furthermore, why buy when it is pointing up, and up, and up? That is just FOMO IMHO. :focus:

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