Free OMNI Cryptocurrency Strategy – Amazing Gann Box
The free OMNI cryptocurrency strategy is based on the trading principles taught by legendary stock and commodity trader W.D. Gann. This is a multi-timeframe strategy that takes advantage of the amazing Gann Box which will enable you to “accurately determine the exact points of which stocks or commodities (or any other market) should rise and fall within a given time.”
Our team at Trading Strategy Guides is working hard to put together the most comprehensive PDF guide to different cryptocurrency strategies. Previously, we covered the QTUM Cryptocurrency Strategy, which is an innovative bridge between Bitcoin and Ethereum.
The story says that, in 1902, W.D. Gann opened two trading accounts. One with $300 which he managed to turn into $25,000 in only three months. And the other with $150 which he managed to turn into $12,000 in less than a month.
When you understand how markets move as W.D. Gann did, then how to trade markets becomes much easier. The Gann box strategy will help you understand the underlying mechanics behind the markets.
On a psychological level, we all know that the markets move based on fear and greed. However, not many traders know that the underlying factor behind fear and greed. This multi-time frame strategy will teach you these underlying factors while trading cryptocurrency OMNI.
Moving forward, you're going to learn an innovative OMNI trading system. You'll also find answers to questions like: What is OMNI? What are the key differentiators of OMNI? And last but not least, How do I buy Omni? This cryptocurrency trading PDF will outline everything you need to know to get started.
What is Cryptocurrency OMNI?
The OMNI coin is an open-source, decentralized platform build on the top of the Bitcoin blockchain. Omni also acts as a bank account with zero fees. Omni wallet looks to provide a Bitcoin wallet service. Learn more about OMNI Layer (Omni Coin).
The main feature of OMNI is that you can create and trade any type of assets, stocks, currencies, commodities and even real estate. The OMNI network, which is comprised of many independent computers automatically, matches the orders when a transaction takes place.
At the moment of writing this cryptocurrency trading PDF, OMNI is the only digital coin that is not in the top 100 cryptocurrencies in 2019 and has a total market cap of more than $2.7 billion at the time of writing this article. The OMNI coin price is in double digits $16.00.
Now, before we go any further, we always recommend taking a piece of paper and a pen and take notes over the rules for trading cryptocurrency OMNI.
In this demonstration, we’re going to look at the buy side.
Free OMNI Cryptocurrency Strategy
According to the Gann theory, we can accurately predict future market cycles if we know the “cause of the effect.”
Moving forward, you’ll learn how to find the start of fast-moving moves in the market. This is going to help you regardless of what kind of trading experience you have because it’s going to help you identify good entry points that are the start of explosive trends.
Unlike the Gann Fan angles which are more suitable for long-term trends, the Gann boxes allow us to capture those intraday explosive moves better.
We’ll walk you through this step-by-step trading guide and we’ll show you what to look for when buying cryptocurrency OMNI.
Step #1: Always draw the Gann Box from the low to the high of the previous day, for bullish candles. And from high to the low for bearish candles.
The Gann Box indicator can be found on the most popular trading platforms (MT4 and TradingView). This is different than the Gann Squares which requires the relationship between time and price to be 1:1.
On the vertical axis, the Gann box has the Fibonacci retracement levels, while on the horizontal axis; we have the Gann time zones based on the Fibonacci sequence.
The power of WD Gann’s time cycles is well-known among the Gann trading community.
Since we integrated time into our trading strategies, we are able to improve the overall performance of our trading systems. What makes the Gann’s time cycle so powerful is the combining of the cycles which is represented quite well by the Gann Box.
Next, we’re going to propose an unheard method of using the Gann Box.
Step #2: Stretch the Gann Box to the right until the 0.382 time cycle aligns with the end of the previous day.
We try to align the 0.382-time cycle with the end of the day price. You can do this by simply pulling the right side of the Gann Box and stretch it to the right until the 0.382-time cycle aligns with the end of the previous day. For more information on day trading, read this guide on day trading crypto.
Traders are only taught to focus on price, but the problem is that not many people talk about the time axis. From a practical point of view, you get stopped out on most of your trades because your timing might be wrong.
Time is just as important as the price!
Moving forward, we’re going to outline one more trading condition that incorporates the time element of this multi-time frame strategy.
Step #3: Wait until the price trades between 0.618 and 0.75 time cycles.
The 1.618, or the inverse 0.618, is known as the golden ratio, or Phi is considered to be the most important number in mathematics. This is one of the most important and valuable numbers that can be used to forecast turning market points accurately.
We only want to buy when the price is trading between 0.618 and 0.75, which is our time of action.
This trading rule only works if you correctly draw the Gann Box, otherwise, you might encounter a different kind of results.
Now that we have a confluence in time and price as suggested by the Gann indicator, we can move forward and outline the best price to buy OMNI coin.
Step #4: Trading Cryptocurrency OMNI: Buy when OMNI coin price breaks above the 0.382 price cycle.
You can get on board with minimum risk and ride the bullish momentum as far as it goes. You can time your entry with very high precision when you use the confluence of time and price.
Gann considered the time-price relationship as the fourth dimension.
The right time to enter the market is when the OMNI coin price breaks above the 0.382 price cycle (vertical axis).
Note: If by the time we’re trading between 0.618 and 0.75 the OMNI coin price is already trading above the 0.382 price cycle then you should not take any position
The cycles expand and contract and they are not consistent, which means that some days will be no trade signals. You may be also like this guide on crypto signals.
This brings us to the next important thing that we need to establish when trading cryptocurrency OMNI, which is where to place our protective stop loss.
See below …
Step #5: Place your initial protective Stop Loss below the previous day low or current day’s low. Close the trade if after 0.75-time cycle we trade below 0.25 price cycle.
Where to place your stop-loss order is as important as where you get into a trade.
Every trader has their own opinions about where to hide your stop loss. However, a solid technique is to use the market levels that will prove your trade idea wrong, which is what we’ve done here.
A more advanced stop loss technique is to use a time stop and close the trade if after 0.75-time cycle we’re trading below the 0.25 price cycle. The thing is that you’ll have to raise your initial stop loss below the 0.25 price level in order to better protect your trade.
We recommend doing more research on this matter and seeing how this can fit into your crypto trading toolbox.
Last but not least, we need to define where we take profits when trading cryptocurrency OMNI.
Step #6: Take Profit should be 2-3 times larger than your Stop Loss
A good cryptocurrency strategy will always give you a good risk to reward ratio. You don’t necessarily need to hit home runs to grow your cryptocurrency account. You can concentrate on getting base hits to grow your cryptocurrency portfolio.
Take profit once you manage to bank two or three times more than your initial stop loss.
**Note: the above was an example of a BUY trade using our Free OMNI cryptocurrency strategy. Use the same rules for a SELL trade – but in reverse. In the figure below, you can see an actual SELL trade example.
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Conclusion – Trading Cryptocurrency OMNI
If you can do the same thing over and over again and have success at it, you can prove the markets are not random and that’s precisely what you can accomplish with our cryptocurrency trading strategy. You’ll get so much more by studying how trading cryptocurrency OMNI works, just give it more time.
The significant relationship between time and price will allow us to see the natural ebb and flow of any type of market. In other words, as W.D. Gann says the markets move according to the natural Laws of Vibration. Be sure to read about the best crypto trading bots article and automate your trading.
Thank you for reading!
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