So, are you in for trading it and making huge profits in a weeks times, or will desperation take the best you, and tell you to run and hide?
We will know really soon. Let's start this trade.
- I put up two chart in the opening of this trade. On the left you can see the , which is obviously overloaded and looking to go down. On the right side, you can see the weekly chart, where the action is just about to start. So what would you do? To trade or not to trade? Do I want to make money? Can I wait for two days?
- The short term is , the , so let's forget about that, there is no fun in looking at a coin that it is going down.
- Now, look at the weekly chart. This is the one on the right. You might think that the candles there are pretty small and that there isn't much action, but that is not the case. As an example, candle #2 had a low of 0.0034 and a high of 0.0060, that's almost a 100% swing in price, in just 1 week. The next candle, candle #3, also had a huge swing in price, with prices going as low as 0.0043 and as high as 0.0067. Now, there is something to learn here, regardless if you choose to join this trade or not.
- The weekly candles are doing something pretty interesting, specially for someone that wants to learn to understand what are the charts trying to say. Each week, the lowest point is higher than the previous week and the highest point is higher than the previous week. So you have higher highs and higher lows. The key word being higher. This is also true for the first candle.
- What I just described above, its called a signal. A signal that says the bulls want action. Which means that they are working to push the price up.
- The next indicator to look at is the . It clearly shows a curve and a "cross over", which is the blue line crossing the orange line in order to start moving up. This type of set up is for several reasons. One is the obvious one, the curve shows that the indicator isn't pointing downward anymore, it is now pointing upward, and, since it is sitting at the bottom, it has plenty of room for growth.
- The & are also pointing up. The weekly chart is , the is overloaded.
- So, this is a pretty simple set up. You wait in the daily movements for the price to go down so that you can buy low, and then expect to see positive upward action in the weeks to come.
- I know that you like these classes, because I am also learning as I go. So use this information to your advantage, and when joining this trade, make the BEST POSSIBLE CHOICE.
- Here is the without looking at a close up. The rise you see on the left, is not as big as you really thought, and the long term shows that this is really a small pump. This is a great trade to make profits where otherwise most people would run.
Buy-in: 0.00470 - 0.00650
(7) 0.0691 (New all time high)
Note: These targets are reference points to sell on the short and long term. Sell when you feel comfortable with your . Buy low and sell high. Not all targets are meant to be reached.
To trade or not to trade?
Why would I ever spend time complaining, when there's a lot of money to be made?
Am I right or is he wrong?
Whatever the answer to my question, I just don't want to make the choice.
To trade or not to trade?
Again, I understand. I have to make my own decisions, if I want to become successful in this game.
Ok, let's stop. Is it him or is it me?
It doesn't really matter, buy your coins and go to sleep.
This was posted for my FREE Trading View followers FIRST. Just like Musicoin (MUSIC). Enjoy your earnings.
How the week closes will affect how things will go. But with the info available now, I would say Wednesday-Thursday can be the days to check back and see if the action starts...
It looks like next week will be a good week, most coins were consolidating this week, so we can see some good action next one.
Here is the weekly chart, we are still going up with plenty of room for growth:
We are in a market wide correction, and for this we halted trading for a few days.
Bitcoin bounced from support and right now we are waiting to see if this support level will be re-tested.
We need to allow a few more days to know how things will turn out. To get better and stronger signals.
The altcoins are looking better now but still have a way to go.
For now, we hold patiently. We hold strong.
P.S. Tomorrow we will have a better understanding as to where Bitcoin is going, but we will resume trading soon.
Thanks for your support. I love you!
- Support on Telegram @alanmastersupport
Mantra: Om Stanesha Vahtu Nevehem