#EMC2 going long when it hits the level of the last demand zone
Setting up a limit buy to buy low on this long-term 4 hour chart.
While the hype is in #altcoins with high momentum and volume, it's sometimes hard to instead focus on those things that are undervalued or forgotten -- contrarian.
While the hype is in #altcoins with high momentum and volume, it's sometimes hard to instead focus on those things that are undervalued or forgotten -- contrarian.
Trade closed: stop reached:
The wick went well below my stop loss to -11% from my entry. I wasn't willing to risk that much principle. Price vacillated afterwards above and below my principle. Right now at this time the position would have been positive without the stop loss if selling to complete the trade.
But that isn't the right perspective. Time changes everything, and the best we can do is hop on to packets of the wave at certain time intervals to collapse that wave down into reality. A trade consists of an entry, profit target (what PRICE to exit?), stop loss (what PRICE to exit): there is no time variable there.
We control the time variable when collapsing and expanding charts. In fact, try zooming completely out so the candlesticks overlap and nothing is left except for the price ticker on the right scale. From there, pressing play causes the price to go up and down, volatility is observed, but there is no creation of mountains and valleys.
Don't get too hyped on predictions and chart topography. If used well, they can increase the odds of a successful trade, but there still has to be a price entry and exit.
And THAT is a whole new different set of techniques altogether. We make money when we get in and then get out (whether long or short), not when we predict.
But that isn't the right perspective. Time changes everything, and the best we can do is hop on to packets of the wave at certain time intervals to collapse that wave down into reality. A trade consists of an entry, profit target (what PRICE to exit?), stop loss (what PRICE to exit): there is no time variable there.
We control the time variable when collapsing and expanding charts. In fact, try zooming completely out so the candlesticks overlap and nothing is left except for the price ticker on the right scale. From there, pressing play causes the price to go up and down, volatility is observed, but there is no creation of mountains and valleys.
Don't get too hyped on predictions and chart topography. If used well, they can increase the odds of a successful trade, but there still has to be a price entry and exit.
And THAT is a whole new different set of techniques altogether. We make money when we get in and then get out (whether long or short), not when we predict.
ADA/BTC