Bitcoin Day Trader's Money Zone
This post contains a great tip for all bitcoin traders. I use it every day for my bitcoin trades.
On the chart you see two green vertical lines. These are drawn from 8:30 AM EST to 11:30 AM EST everyday New York Time.
I call the time between these lines Money Zone, which is where Whales/Institutions/MMs/Whatever set up their day trades.
The yellow Horizontal line is high/low made withing the zone and the yellow vertical line is the end of session.
The red vertical lines are for Saturday where this is not applicable, even Sunday is not applicable since these are weekends and big money don't trade on these days. But for a fair number of Sunday's, this idea holds true in my back testing.
What you should notice is, the high/low made during the money Zone is never breached till the end of the session marked by the yellow vertical line.
I have back tested and marked all the money zones for the past 2+ weeks, but you may not be able to see them all in the post, so I am sharing a live link of my chart below.
https://www.tradingview.com/chart/w98m72Xv/
What you must do is use your regular TA to determine levels of interest, create setups in advance and wait for the money zone.
Now by this time you should already have a bias to where the price is likely to go next and wait for a counter move/manipulation in the opposite direction and comfortably take the trade and relax for the rest of the day or at least till the end of the session.
This is applicable for other sessions like ASIA or London as well, but I have personally found this to be more accurate for the New York Session.
This is not Financial Advice.
On the chart you see two green vertical lines. These are drawn from 8:30 AM EST to 11:30 AM EST everyday New York Time.
I call the time between these lines Money Zone, which is where Whales/Institutions/MMs/Whatever set up their day trades.
The yellow Horizontal line is high/low made withing the zone and the yellow vertical line is the end of session.
The red vertical lines are for Saturday where this is not applicable, even Sunday is not applicable since these are weekends and big money don't trade on these days. But for a fair number of Sunday's, this idea holds true in my back testing.
What you should notice is, the high/low made during the money Zone is never breached till the end of the session marked by the yellow vertical line.
I have back tested and marked all the money zones for the past 2+ weeks, but you may not be able to see them all in the post, so I am sharing a live link of my chart below.
https://www.tradingview.com/chart/w98m72Xv/
What you must do is use your regular TA to determine levels of interest, create setups in advance and wait for the money zone.
Now by this time you should already have a bias to where the price is likely to go next and wait for a counter move/manipulation in the opposite direction and comfortably take the trade and relax for the rest of the day or at least till the end of the session.
This is applicable for other sessions like ASIA or London as well, but I have personally found this to be more accurate for the New York Session.
This is not Financial Advice.
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