This might be confusing on what is about to be shared to you on what am i seeing. i have a set of rules before i determine the market even though we are seeing some movement lately.
Let me explain:
1. What time frame should we look at? Weekly its good enough as Crypto moved 1 time frame faster than the rest of the commodities and stock market chart so i choose this for a market direction.
2. With such market general direction, am in for longer term than speculative movement that might be killed by overall main direction and leaving mind with a confusion state if not careful
3. This will eliminate small noises in the market and looking into bigger picture to ride the safely.
4. Try to be CONSISTENT when evaluating the market, it is easier to rectify individual error and revise on it when things are not doing well.
Alright thats all for some HOT tips that will help to improve your trading performance.
Whats next? Price is trading at the range for years under the fib retracement level of 23.6% and gradually forming a wedge pattern for a breakout. It is still a beat on which direction will it head towards, normally a flag on a down trend will follow the trend. However, its in theory, the outcome is not 100% certainty. What is more important is how we manage the risk and knowing how to manage the trade accordingly.
So am seeing this how can i trade this?
Current price is trading below the 50% retracement level looking at the smaller fibonnaci levels. For the price to continue moving downwards, weekly price cannot close above 184.50 as it will shows that price will retest high level than low. This is not a indication to say i am going to load in my buy orders. It only shows that market is moving up and i will look to buy a the dip.
Lately we can see ETH is gaining more strength than BTC, might be another wave for ETH demand for ICOs actives are little to nothing now.
for the trade to confirm its upward movement have to break and close above 23.6% Bigger Fibonacci level.
I will forsee another buy orders near the 23.6% on the mini fibonacci level when it retrace before going for a upper side.
The possibilities is unless and will update further when this week candle closing.
Safe Trade and if this post is helpful, please like and share to people around and don't forget to follow me.
Let me explain:
1. What time frame should we look at? Weekly its good enough as Crypto moved 1 time frame faster than the rest of the commodities and stock market chart so i choose this for a market direction.
2. With such market general direction, am in for longer term than speculative movement that might be killed by overall main direction and leaving mind with a confusion state if not careful
3. This will eliminate small noises in the market and looking into bigger picture to ride the safely.
4. Try to be CONSISTENT when evaluating the market, it is easier to rectify individual error and revise on it when things are not doing well.
Alright thats all for some HOT tips that will help to improve your trading performance.
Whats next? Price is trading at the range for years under the fib retracement level of 23.6% and gradually forming a wedge pattern for a breakout. It is still a beat on which direction will it head towards, normally a flag on a down trend will follow the trend. However, its in theory, the outcome is not 100% certainty. What is more important is how we manage the risk and knowing how to manage the trade accordingly.
So am seeing this how can i trade this?
Current price is trading below the 50% retracement level looking at the smaller fibonnaci levels. For the price to continue moving downwards, weekly price cannot close above 184.50 as it will shows that price will retest high level than low. This is not a indication to say i am going to load in my buy orders. It only shows that market is moving up and i will look to buy a the dip.
Lately we can see ETH is gaining more strength than BTC, might be another wave for ETH demand for ICOs actives are little to nothing now.
for the trade to confirm its upward movement have to break and close above 23.6% Bigger Fibonacci level.
I will forsee another buy orders near the 23.6% on the mini fibonacci level when it retrace before going for a upper side.
The possibilities is unless and will update further when this week candle closing.
Safe Trade and if this post is helpful, please like and share to people around and don't forget to follow me.
"What is Risk, When there is no Reward"
"What is Reward, When there is no Risk"
"What is Reward, When there is no Risk"