The price broke 7000.00 important level and dropped to SMA100. This support line can stop and reverse the market. In spite of MACD and DMI indicators confirm downward movement, RSI is in the oversold zone. It can be a signal that the market will reverse soon and start a new upward movement. If we get a bullish candle at SMA100 and RSI confirms price reversal, we should be ready to buy above 7000.00 level. But levels at the support zone are more interesting for buying. This zone is formed by 6200.00 and 6000.00 levels and it's stronger than SMA100. If the price bounces from this zone, pending orders for buy can be placed above the high of the signal bullish candle.
Thank you so much for sharing professional opinion!
Padlomfaan
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@Green03, You release he basically offers captain obvious type info and is rarely actually correct and his information is untradeable. He's wrong more often than right but who cares, he does it professionally. #facepalm
RaduV
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@Dashtothetop, are you watching something else?
DLavrov
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@Dashtothetop, please, more details )
Padlomfaan
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@DLavrov, I want more details from you. IE. If 10k enters at this level... and then sells here 20% or 2k profit was made. And then keep a running tab of each trade. Oh we got stopped out on trade #2 and lost $1000, our P&L this week is +1000
Last week we did +2500,
the week before -500...
so on an so forth,
For the month we are +$3000.
I suspect your trade data would look more like, we got stopped out here, here and here, and were down $6000 this month.
Were down 4,000 last month
Down 3000, the month before
down 5000 before then,.
So if your information is profitable, share those details.
DLavrov
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@Dashtothetop, With proper money management my information is profitable. My trading strategies, which I use for providing trading ideas, are profitable. People can make profit. From your comment I understand nothing.
Padlomfaan
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@DLavrov, okay fine don't show you gains and losses per trade entry.
acostalugo85
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@Dashtothetop, thanks to tris guy i buy ltc at 45 and sold it at,90, the problem its people want to find the top and botton, and, that its just so wrong, this guy its giving his time and knowledge for free.
veltto_keksi
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@acostalugo85, Better to aim at the area +- 5-10% from top/bottom. While you won't maximize profits per trade, your buy/sell orders will go through more, resulting in more profits overall. Nowadays I put 2-3 orders at the predicted price area, to smooth out the risks overall.
liberix
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Thank you for sharing this analysis. I couldn't agree more!