➡️Let's find a trade using CORIX.
CORIX
Last updated
CORIX
Last updated
How I did my analysis.
I used CORIX to find a LONG position as the market was falling due to BTC.
I need a coin that reacts to BTC's drops. On the Binance futures exchange, I examined the coins with inverse corelation in the last 100 muma 2h timeframe.
When I ran this through corix I found MKRUSDT
The correlation level was not very good, I am usually looking for a process above 80%.
When I examined the chart of MKR, I realized that it continued the same movements continuously.
and I compared it to BTC.
example screen below.
And to validate corix, I added a BTC chart on it and observed how it reacted to the dips.
BTCUSDT price in RED on the left side
As you can see in the CHART, BTC has generally reacted in the opposite direction to the declines. so our corix formula is working correctly.
Then, since MKR was already at the bottom, I entered the appropriate place for LONG.
The only feature I haven't shared with you here is the new simulation tool we are developing. Here we simulated the entry and the results are below.
I used this tool to determine the price at which it can hang when the price drops so that I can decide what range I should move the stop to.
