Discussing Crypto, Stocks, TradingView and Pine Daily – 6/9/2020

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hey this is David for big bits and I finally got the stream up we’ve had some issues doing the restream with tradingview I apologize about that just kind of gonna do YouTube today trading views kind enough to work with me to help get the stream going over there and getting access to some software so for now we’re just gonna be on youtube today I want to kind of make this as much of a daily process as I can there’s a lot of stuff that I want to talk about and I really don’t have time to make videos for constantly takes a lot of work to you know edit and do all that stuff for the videos and of course I’ve got issues here with stuff popping up on the screen what else do I have it’s just one of those days area finally a test party going alright so yeah the issue with trading use streaming is that it is a browser-based streaming client which means it’s recording through the browser it’s requesting access to your camera to your desktop or to your microphone as well and the issue with that is that through the browser it takes a lot of resources and in my particular case I wanted to have this excellent branding that you see on the screen with my logo down there and I just can’t do that with the default recording so what I have to do is I have to actually project this layout where I have my branding the big bits logo which I believe is up here and the nice curved edges in order to have that I have to use obs which is a streaming software and I project it onto a third screen and on that third screen then I record and then it also uses my microphone so it was basically I think the combination of OBS and the actual client itself on tradingview that was a little bit too much so hopefully they can get me access to OBS and will be fine to go from there so I apologize to those of you who tried to watch and couldn’t earlier and I know I went on and on about this now for two and a half minutes but just in case anyone from training view watches this cuz I know every once in a while they see some my stuff so if they’re seeing this they can get an idea what’s going on there but I’ve already talked to them and they should be getting me access to be able to use OBS on their system so hopefully we can take care of that and start streaming a little bit more often here and let’s see one thing I did want to talk about I did post a new idea last night on trading you so if you aren’t following me on trading view please go ahead and do that I’m gonna try to post some more ideas I posted this one last night this is a nice little text idea with some ideas about what’s going on and I’ll explain what’s going on there but I’m also doing some of the video recordings over there as well and as long as the clients I’ll actually work you can see that here as long as the recording client on their website will actually work then I have no problem recording ideas over there and then editing the videos and uploading the YouTube later but that just wasn’t the case today so I did some educational stuff over there that’s really good and okay on for the idea today I basically said why I’m not wanting to be bullish she just yet let me pull up my charts just a moment no that was on the other screen I understand but let’s see so this is the idea I posted and really has a lot to do with these moving averages so the green the yellow and the red respectively are 50 100 and 200 moving averages and the white one there is the mid Bollinger Band which is a 20-period moving average and one of the things I’ve noticed is that here recently the alignment of these moving averages has started to trend towards being bearish and by that I mean they are in ascending order pretty much – there look back period layered on top of each other and I’ll show you what I mean by that in just a moment if I can find a good image of it yeah so we can kind of zoom in here you can see the white is below the green which is below the yellow which is below the red and typically when you see that you’re pretty much guaranteed to be in a downward trend and even then you might even ignore the white line and just focus on the green yellow and red and that’s what I’ve kind of focused the idea on except I also included all of them and the white line as well and we are looking for the same thing to kind of happen here on the SPX and I focused back here at the end of February but what’s really I think is gonna happen is we’re gonna have something similar to this and then something similar to this although it’s probably not gonna be as severe we could be setting up kind of a downtrend just because we haven’t seen this in a while and to show you that this is when it actually occurred again with the 200 period moving average going down so not only do they need to be aligned correctly I want to see all of the moving averages moving downward as well so back here when you had all these crossovers the 200 was still moving up and what I wanted to see was everything kind of moving down back here and I haven’t even touched the SPX yet I’m trying not to read everything that I posted the other day so you want to do this again but you can see there’s some similarities here back to the end of February you had this kind of crossover while the 200 was still moving up and you had that here now the second batch of crossovers was right here and you can see that’s when all of them were pointing down and I honestly don’t know if we’re gonna have another drop like this I don’t the TA on the weekly and monthly charts doesn’t suggest something like that in my opinion so what I have a feeling is gonna happen is we will have probably some sort of period of consolidation kind of similar to how we did here at the beginning of March and then maybe a little bit of a drop but probably nothing nearly as severe as we did back then unless they have to like shut down the economy again and there’s another liquidity issue amongst all the markets so you can see now with Bitcoin you have the 20 below the 50 below the 100 below the 200 but the 200 is still moving up so I’m not really looking at that yeah with the Fed involved that was one of the other things I mentioned here was that with unlimited QE like how long do you really want to let the price go down so I’m gonna be waiting for a little bit lower prices before I really go all in but I’m probably not gonna wait too long wait till there’s finally some good signals to to buy and then do so all right so yeah I think this is just for our and this is just the one day I did mention that there is a range here it’s hard to see because the line lines up so well with the current price on the chart there but there’s a red line here serving as support and you have your downward channel there so what I kind of expect to see is consolidation between here and then perhaps a breakdown back to the 100 period moving average which would probably be downside down towards the middle of July and that would be around you know 2,900 on the SPX so that’s what I’m kind of expecting to see hoping for even lower prices than that honestly because I have increased my contribution to my retirement plan and the more I can get for cheap now the better because honestly uh I was talking to some people that I know and once the market does recover you think it’s gonna just explode because there’s been all this new money introduced even you know they’re given all this unemployment money out for people who haven’t worked jobs but that money goes somewhere it goes back into these corporations and where does the money go from the corporations if they don’t have to take out new loans from banks to keep it if it goes to the banks the banks get to keep it and they’re borrowing money from the government so it’s gonna come back some way or another and the markets gonna be just fine and of course the bank buys services from companies as well so once things do kind of turn around it could very well explode in my opinion all right so I need to actually show you the chart as it is currently I’ve hidden the Bollinger Bands because I’m looking at the weekly chart and let’s I wish you didn’t do that okay so we’ll just leave both of them up here what I am concerned about here is this consolidation on the weekly kind of looking more like a flag as opposed to this descending triangle superset line I mean you could actually argue for something like that and it being a flag on the weekly but I am watching the upper band on the weekly chart as well because it’s coming down pretty quickly you can see it the Bollinger Bands encompass the range of about the last twenty candles so the lower bounds are gonna be very low the upper bounds are going to be falling because we aren’t losing the highs now here in the next two weeks you can see with the shaded area going to be consuming those two candles on to the next one so it should come down I would expect first I lost my drawing tool I’ll expect something kind of like that and then on the bottom side as well it’ll come up in the next two weeks honestly think price could jump back up here and it’s hard to say where it would go from there but I’m kind of at least thinking that prices if they don’t come back down to this area which kind of happens to align with that mid July theory that I had with the 100 day moving average looks like the mid band kind of aligns with that and you would think that it would at least come back down to the mid Bollinger Band it kind of did here but there was also a lot of other stuff that held it up there as well so yeah it’s a little bit confusing right now but with the way these coronavirus cases are going who knows what’s gonna happen so I’m just keeping my eyes out for opportunities to buy let’s go back to the daily chart look at that weekly line now so yeah I’m a daily chart that line doesn’t make a whole lot of sense you that’s about all I really wanted to do 40 a Bitcoin it’s really not all that exciting right now I’m stuck between the moving averages on the daily the weekly still above the 50 which is really good I kind of expect we’ll come back down to the 50 but who knows how long that’ll actually take cause the daily yeah so those lines here in a couple days the 100-day a line up with that bottom Bollinger Band on the weekly or the mid band on the weekly no no the 15 my apologies but I believe that Bollinger Band is around there somewhat yeah so it may take weeks before those aligned but I don’t think it’ll actually take weeks to get that kind of movement I’d be surprised if it does so I did want to share some updates on these stochastic weights I’ve been working on that just a little bit I’ve been trying to find some divergences with the code and it seems to be doing okay it’s not as great as I would have liked where is that one that here so it found a divergence here but it failed to find the larger divergence which is something I need to try and correct as there was a very large divergence there from this point to this point and I would have hoped for it to shorted there but it is coming along well I’ve added a few new features see we added smooth the RSI as well and then I added the customized oversold and overbought features like with my smooth RSI indicator so you can adjust those and it changes the amount of signals that you see here and it’s throwing a few good ones this one was a little early that one was actually really good so I’ll be interesting once I convert this into a strategy to see what’s actually going to work but the way I’ve done it to find the divergences is actually going to be in a way that it won’t repaint so that once it throws that signal as long as that candle closes that particular way it’s not gonna repaint so when you do a strategy it won’t throw the signal again on the next bar it could two bars later but it shouldn’t show you a signal and then a bar or two later no longer show you the signal once the bar closes with the signal it’ll always have the signal associated with it you that reminds me also with the smooth RSI we gave it the MA type as well I’m trying to think there’s anything else I can find that ranges between 0 to 100 and reset all these and we’ll just enable everything at once and see if we get anything so you got one here that with my bad but really I would like to find something like this but that’s still that’s not really a divergence because I went lower this one was really good actually you these weren’t too bad but price just kind of consolidated there so wouldn’t it great yeah I’ve done a lot of work on finding the divergences here and also really just looking at these levels this is one way to actually trade it so you don’t actually have to find it of urgencies so like for example you want to find something that piques and then crosses down you would have one here which that’s actually really good you would have had one here which was not so good so that one would have been a good one for stop-loss but you would have had another one here that one wasn’t good but you would have also caught this one and that would have been part of one of those larger divergences that I’m talking about so you would have found that one there as a short you had been a little bit early but you still would have been there just buying that and if you’re manually trading and looking for the divergence it’s it’s pretty easy I just need to find some good code I try to copy copying some of the code but the way they had done their divergence is I don’t really quite understand the code yet some I have to go back and reread how they’ve done their actual code to make that actually happen and yes I see why this one is actually happening some of these signals definitely are false positives something that I would not want to buy so there’s still a lot of work to be done on that so I think for now I’m just gonna focus on the actual signals they throw themselves maybe waiting stochastic RSI a little bit heavier and also the smooth RSI a little heavier so that one was pretty much perfect there that was good pretty good one there it’s not terrible that was calling for you to short right before that dip so that would have been pretty good yeah that’s just a tough time there this is our 15 minute candles I really designed this for like 1 or 4 hour you you and this is where I would also want to change the oversold and overbought ranges oops wrong way so yeah that one missed that divergence still got to go back and find that somehow yes let’s compare this to the one that I wanted to add as a comparison for divergences so this is what I was kind of trying to go for I don’t need to figure out how they actually did all this in their code because it’s really good stuff so if you can find a divergence with this and a divergence here so for example you know right here you would have looked for divergence continuing down but then what I’m trying to do is I’m trying to look for divergence that no longer exists when there’s a crossover so there’s a crossover pretty much immediately following the divergence because it would continue to throw the divergence all the way down as the blue line went below the orange so you would in a lot of cases if you’re just looking at divergences you wouldn’t want to well you would be tempted to buy every single candle as it continued to drop whereas here we’re using the stochastic weights with these divergences so as the price goes up here and goes well as the indicator goes up and this goes down the price goes down we’re gonna want to wait till a crossover occurs here to buy and that could signal that trend change now this this one was kind of tough because it did kind of consolidate after that but she would have been in much better position if he waited till this candle as opposed to if you had tried to start buying up here when it first started to diverge it’s 1:22 I’ve got a few more minutes here I see there was another thing that I was looking at and that is the volatility weighted moving average and we started talking about this over the last videos and that is a 50 period moving average so let’s add a moving average on the chart so I’ve also done some work to this one you can tell it’s pretty much a simple moving average but it’s weighting the higher volatility candles more and we can actually adjust how much weight those high volatility candles have I’ve added a peak volatility wait so whenever a candle is in the peak volatility segment then it will be weighted much heavier and see it makes the green line go a little bit further away from the blue line there the more we wait those very volatile candles you let’s see if I already talked about this and this is the smoothing length this is to kind of make the line a little bit smoother so if you actually plot the actual volume weighted moving average you would have something like this and I’m trying to find a way to actually use this because you would think that volatility should matter but I also combined it with volume volume weighted volatility and the line is just the simple moving average so it didn’t help any what I’m thinking about is using this as it’s weighted moving average and you can get an idea for trends here somewhat so you can see once the volatility weight trend gets higher than the simple moving average of the same kind it kind of signal that trend going up you can see one here here there’s quite a few on the downside here see there’s consolidation here as they both kind of move sideways for the most part and then trend down trend up as long as they’re not moving sideways which they are doing a lot of right now it’s pretty decent in finding a trend but not working as well as I thought but that’s part of the process of making these indicators it’s coming up with an idea and testing it that’s why they call it data science you form a hypothesis with your data you create the instrument that you want to use in this case the volatility weighted moving average and then you kind of run some data through it to see if your hypothesis is correct and in this case it’s not looking too good I think there’s some better stuff we could do and somebody showed me something called an exponential hole moving average and I really liked where is this am I really searching my scripts and this is like a whole moving average but it’s even quicker and it doesn’t have the overshoot as bad so this is one that I’m starting to take a look at as well let’s put it on a 50 period like we’ve got the rest of our stuff okay so this is a 50 period kind of like what we’ve got our other two moving averages on it you see at just how quick it is compared to the other two and it’s a nice smooth line as well so that’s one I’m gonna keep an eye on here coming up as well here and honestly might be something I put into my scripts one over all have I done you so that’s the weekly what’ll worked out pretty well for you if you traded its color changes up until recently of course everything it’s like everything’s kind of designed lately to shake you out of whatever position you’re in it’s been really kind of ugly ever since this breakdown here that looks like a nice flag too by the way so ever since that breakdown it’s like it’s been people just trying to shake you out of whatever position you’re in unfortunate see I want to check on basic attention token because I knew it was doing really well and then it kind of crashed I got a bunch of alerts I was looking for 30 cents it made it all the way up there I’m a little concerned now that it’s just gonna lose momentum here let me actually pull this up on this chart because I like these indicators better everything still kind of looks pretty good for it on the weekly it went it hit the upper Bollinger Band which I was gonna use to take some profit on but I just was too busy this weekend and it only hit it for you know like a couple of hours at most to again hone one of those things is pretty unfortunate unlike a lot of other tokens and coins recently who seem to be like absolutely flying and staying up there it’s like whenever basic attention token shoots up it gets hit back down pretty quick but it continues the climb so I can’t complain too much do you want to see this on the daily so yeah it’s percent B or yeah its percent B was way over the top here so that makes a lot of sense why I got knocked down pretty quick but we’re still trading above the mid volunteer band and you’re about to have that alignment I was talking about at the very beginning of the stream here where you have the white above the green above the yellow above the red and all of them trending upward so that’ll be the first time it’s done that in a while and did it here slightly but yeah that was kind of a fake-out I guess so who knows this might be another fake out but once again you’ll have them all aligned here and we’ll see how that actually works out I also want to take a look at MCO again this one is interesting because it’s bouncing really well today I’m kind of surprised by that this is the daily chart so it’s back up to four and a quarter after it went all the way down to what a little bit under $4.00 the chart just looks horrible on the weekly there was a lot of divergences we talked about this one before on this channel there were a lot of divergences but the weekly may be not so bad on the USD chart here because that’s kind of within a margin of error of being support on that weekly moving average there but the Bitcoin chart just doesn’t look good yeah so it broke well below clothes well below it’s just not a good looking chart honestly versus Bitcoin so I’m not sure if I’m going to continue to average in down here or not or just hold what I’ve got and see how things go because that just bought a few of them I was really hoping we’d bounce from the 50 there but we could very well continue to drop I want to see something like this where the stochastics bounce back up and if we compare this to where we were then it could very well continue down much more so something different like a theory I’ve gotta get off here soon I see a theory a weekly chart it does not have everything aligned just yeah it’s very similar to the other ones except it’s trading below its 200 week it looks like it’s 200 week served as priests pretty good resistance I mean it’s pretty clear I should say it resistances in the fact that it made it to the line almost exactly and then came back down which is kind of interesting because if etherion were to remain bullish and the market turn bullish because of it the theorem would bounce hopefully off of one of these moving averages and then continue upward and it’s moving averages would be aligned let’s see what it looks like on a daily I bet it looks pretty decent yeah so pretty much right now everything is aligned it looks like it’s trying to reclaim that 50 and if it does it’ll have to bounce pretty quickly to keep the 20 above the 50 but once it does it would have all four moving averages going upward once it gets the mid band but honestly the three key ones are all moving up right now and why am i more interested in crypto than stocks because I got started in crypto I have a retirement fund for stocks they handle all of that I like stocks I’ve started getting into them a little bit more but I don’t know I I got into crypto and I don’t know it’s just first thing I got into I didn’t really care too much about finance or trading before I found Bitcoin and aetherium and I just kind of stuck with it I just I like this but what I am looking for on stocks right now is AT&T that’s one I’ve been behind some I’ll show you that chart my chart doesn’t look that great but what I’m interested in with this one is the dividends that gets ridiculous you’re buying a thirty dollar stock for two dollars worth of dividends per year because you get fifty two cents every quarter it’s kind of crazy if you think about it if you buy one of those stocks right now in 15 years as long as they continue paying dividends you’re gonna have essentially that stock paid for itself after 15 years that’s kind of crazy there’s a lot of other stocks like that I’m like I said I’m not really too in into stock so I don’t know a lot of details about everything going on here but 18th he’s pretty nice that’s a lot of a lot of dividend for such a cheap stock and kind of surprised to see that it’s went down so much or at least stayed within this range for such a long time let’s say that’s all the way back in 99 let’s see it has continued to kind of move up but within its current range it’s on the lower end and I honestly don’t see it being worth less than it was back here in 2002 so I don’t really have a problem by an 84 how the hell because if it does ever get back up to its all-time highs that’s 50 bucks so you gain to 66% plus you get dividends if it ever makes it back up to its all-time highs which I believe it will I’m really hopeful for 5g and one of the things that I like about 5g is it’s gonna enable the urbanization and I’m actually an employee in housing finance and there are a lot of benefits to living in rural housing plus a lot of people aren’t really big fans of living in bigger cities I know recently there’s been a lot of people leaving the big cities partly due to chroma buyers partly due to riots but personally I have some land that I could use out in the country that I can’t because there’s no internet access no reliable internet access and if 5g becomes available out there I would be very interested in building and moving out into the country with that internet baby boomers will move out of the cities I don’t know about that mainly because the older you get the closer you want to be to healthcare and if you move too far out if you call an ambulance here at look demographics have them leaving perhaps it’s gonna be interesting what the younger generations do because they don’t have money to buy houses and this is from data that I’m hearing where I work and stuff it’s all public data so I’m not like sharing anything private but the younger generations of course are living with their parents longer and when they’re moving out they’re not buying houses they’re moving into apartments and rentals and stuff so there’s not as much opportunities out in the country for them but at the same time baby boomers are getting old and when they transfer their wealth down and their land who knows what’s gonna happen there but for me personally I would like to get a little bit further away from the city once there is 5g out there we will have you know the ability to purchase anything without going anywhere which you already have using Amazon and you have ups and you have FedEx and all these shipping providers that you don’t have to go into the city as much as you do you can telework there’s really not much reason to be forced to live in the city the one major exception that I think of is you know younger people wanting to be social well there’s actually two the younger people wanted to be social and the older people wanted to be close to health care other than that for me I can’t think of much of a reason to want to live in a city but that’s just me I grew up on a farm so I’m probably very biased I enjoyed the peace and quiet and I enjoyed not you know opening my door and seeing other people it’s kind of nice to open your door and you know see wild turkeys or deer running around and you know you’re sitting on your couch at night you’re trying to watch TV and your neighbor’s mowing the lawn that’s annoying that’s that’s just really that happens a lot here but yeah that’s one of the reasons I’m looking at AT&T and I’m thinking also SpaceX is doing StarLink so I imagine 80 and some of the other data providers will want to do something that competes and either they’re gonna want to try and push 5g as far as they can or less likely they’ll try to emulate what they’re doing with StarLink but more likely they’re just gonna push 5g as much as they can and from what I’m hearing StarLink is probably going to be like a hundred or more a month for like the basic plan there’s no real data out there but it’s gonna be pretty expensive and there’s no telling how many people are gonna use it and how reliable it’s gonna be I mean they are using low-earth orbit satellites so they are gonna have much better latency really good connections but they’re still gonna have to deal with whether the clouds these sorts of things although I imagine being elio satellites that they’ll be able to penetrate a little bit better than the geostationary satellites that other companies use for their satellite internet services you but yeah it’s a shame I on the land that my parents have we we’ve looked at building out there in the past and you could maybe get cable internet if you paid the service provider to build the line out a little bit further but even then it’s probably gonna be on the low end of their service you’re gonna have a lot of latency because you’re on the out outskirts of the town their hub is going to be right in the middle so you’re gonna be dealing with more hops most likely in that case so it’s it’s not really ideal it is it’s big money like our land we we would be fortunate in the fact that we had service like just around the corner like quarter mile or so so they might have been able to run it across the road and it not be too big of a deal but it still have been thousands of dollars pretty much about the time you build a home out there and you account for you know travel cost and all the other expenses it just made the picture a little bit less desirable okay yeah I’m friend a little bit late on the stream but I guess that kind of makes it for the fact that I couldn’t get going when I wanted to I’m gonna hear back from tradingview and try to set up a string with them using OBS so we’ll be going to doing the dual stream again hopefully soon I’ll have to figure that out hopefully everything works well the next time but that’s gonna be it for this one guys if you all have any questions or anything just leave a comment or shoot me a message on twitter or discord or even on trading view through their messaging platform but other than that i would like to thank you all cheers to you too man have a great day I guess

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