Summary:
I've been asked how to avoid fakeouts with crypto
There are a few ways:
1/ using the funding info (for short-term trading) and the CryptoQuant net inflow for mid/long-term trading
This avoids going long with big position size/high leverage/entering at market when either the BTC Binance funding is high (> 0.1%) or the Net inflow of BTC is above 0
When in a BTC or ALTS trade I see that the BTC funding is high, I'm getting more cautious and:
- protect quicker my position with an SL/BE
- take all my profit at the nearest resistance
There always will be another signal in the same or another timeframe, so there is no need to overhold a risky trade
2/ To trade what's going to move, I use screeners
https://best-trading-indicator.com/community/bti/forums/3868-get-started/topics/15256-our-best-trading-screeners-selection
And set my AB alerts on the top 10 from LunarCrush: https://lunarcrush.com/markets?rpp=50&ob=alt_rank
I sort by Galaxy Score and take the first 10 one
The Alt Rank looks legit as well
I don't know which one of the Galaxy Score or Alt Rank is best
Using a screener to pre-filter the assets to trade is THE way to avoid trading ranges/assets without momentum
Then we talked about 3 commas and how to capture the 3 commas alerts and use them via tradingview.com
Nothing new compared to that page
https://help.3commas.io/en/articles/3108938-how-to-use-tradingview-custom-signals