ATOM/USDTAtom shows more quickness then other shitcoins but trend still looking in to the hell.
So we got 2 scenarios: upside and downside ( it always been lol)
case of upside depends on the low of 11.5 so bulls need to save that low to prevent structure breakdown then we may see upside
case of hell which looks mmore real to me: bears will ruined the level then MM going to take all that liquiduty( blue lines) he made while we grew and the character of trend makes me to look more at hell scenario, common this lows is too obvious. ISNT?
but one legit thing in hell scenario is corrections around $8-$10 we could see and I could long because the healthy assets doesnt fall in couple bars, you know. MM playing with ATOM like a mf so I want to see good bounces.
Protrading
The ART of the Fade.Tilray is a Cannabis stock, but the importance of this post is the art of fading.
I have numerous posts on Volume profiles and how and why they are very effective, and have kinda made it a mission to show you how great they are!
Here I am showing you how to fade around value, notice the profile, notice how price is trading sideways in this range and building mass of orders, I have used the two blue horizontals to show the outerside of range, and look how price has acted! Absolutely beautiful fades back into Value! honestly so beautiful.
Price attempts to break the outside boundaries before being turned around and heading back into the mass of orders, it is truly beautiful.
The takeaway from this post is the importance of using a volume profile in trading, as the big boys are! step up your game now!
Risk/Reward Tutorial - The Holy GrailThe traders who learn to view and think about trade setups in terms of risk/reward are the ones who end up making consistent (albeit massive) amounts of money.
My personal strategy looks something like this:
Using the 4-minute chart as the earth rotates 1 degree every 4 minutes.
𓃭 0.50% stop-loss measurement
𓃭 1/2 profits at 1.30% level and move stop to break even.
𓃭 2/2 profits at 1.50% :: (or 1.70%)
𓃭 Wait to enter trade at the previous 2nd candle base break up/down and skip trades that are in consolidation where the direction is not 100% clear.
Keep in mind that my signals are so precise (indicating near exact future pivots) that I am able to use such a tight stop-loss, but this wont necessary work for the average trader. This video is merely meant to serve as an example of how to work out ratios for yourself.
Knowing when not to take a trade is just as important as when to take a trade. Don't enter a trade if you are not confident, as it will only damage your equanimity. Don't let greed or fear destroy a good thing. Those emotions + impatience and lack of self-discipline are obstacles that prevent 97% of novice traders from ever succeeding in maintaining a long-term professional career.
You should be operating as any casino or business would, do not gamble with your business.
At the same time, allow yourself to make endless mistakes with ease and grace, knowing that if you want to succeed baldy enough and you never give up, you will find a way to realize your dreams!
Mistakes are a right of passages. Excruciating lows and euphoric highs are what everyone experiences on the road to success.
The 97% will give up along the way or never even attempt to begin with.
Bitcoin / U.S Dollar BTCUSD Trade Idea 30 March 2018Quick weekend update on the Bitcoin market.
Bitcoin failed to maintain its bullish momentum on the short term vs the US Dollar, however it seems that there might be some buying support on the longer term bullish trend line.
Prices dipped below $6800 this morning (mentioned in my previous report), we saw some good price action at that level quickly pushing prices back into the $7000 zone.
It could be possible that the bulls are trying to build a foundation below the 7k zone.
It is important to realize that we are still in a bearish trend and that most trades on the market should be considered higher risk.
$7000 is a critical support level for me and should prices fail to consolidate above this price zone, I will take it as more bearish confirmation and trade accordingly.
Should we fail to stay above 7k I feel the price action could lead us into the 5k – 6k zones, as we have now rejoined the previous down trend channel.
On the flip side of the coin if we consolidate above 7k and perhaps above 7600, we could see some nice buying pressure going into the month of April.
As usual be patient and wait for the market to show the way, the safest entry at this point would be after price action consolidates above $9000 – $10 000.
For a higher risk entry look towards 7600 – 8000 for a play.
Safe trades and Happy Easter to those that are celebrating the holiday.
Chat to real crypto traders here.
Bitcoin vs US Dollar - Bitcoin takes a dip, but is it all over?Quick update on the Bitcoin markets, after my previous mentioned support level at 8800 failed, the price action responded by falling back into the down trend channel.
We can see the the price has now been rejected by the 0.5 fib, this is bearish and as I mentioned previously, this will mean further correction is necessary in the market before prices move higher.
Even though prices are falling, the volume has been building up the last 10 days and this a very healthy sign for the market.
My support zone is in between $6600 and $7500, and not a bad place for longer term buy orders to be placed. Perhaps a few below 6k for luck.
This could all change quickly in my opinion, should prices consolidate above 8100 today, we might see prices push higher.
Worst case scenario would be a fall through the $6600 support level, this will send prices to 6k and if that fails we will retest the bottom of the downtrend channel.
Being a technical trader it helps to be mindful of the fundamentals, when I take into consideration there is some bearish news, it is greatly overpowered by all the bullish developments in the crypto space.
The buyers are out there (some battered and burnt), open interested is building, lets be patient and wait for the price action to lead the way.
Hang out with Crypto traders here.