For medium and long term trades I can agree,,, and especially in times of sideways movement with low volatility periods. Problem with crypto anyway for me is the extreme swings that can happen in between that can eat up your stopd using any of those indicators, right?
Yeah, extreme swings happen and you don't want to be on its way when a swing happens. When doing short trades especially with margin trading, once I open a position, I keep an eye on the market until I have closed a position. If not, I at least makes sure there is a stop loss.
The indicators just act as a guide to me on what kind of judgement I can make along with the help of past trading experience and I don't entirely depend on them 100%
I think it is the main use of the indicators where it gives us idea on what will happen to price, it is just a guide and for me it is really not a signal. I use a lot of indicators like Elliot Wave, Donchian Channel, RSI and Moving Averages if I will trade using spot trading but my strategies will change if I will do a margin trading because I will switch to lower time frame because in margin trading; the higher the leverage, the faster the trade should be. I'm only relying on price action when I do margin trading but I'm using tools like horizontal and trend line for me to plot the support and resistance. I also make sure that all of my trade have stop loss in order for me to make sure that I will not suffer huge losses.
