Hello my fellow trader enthusiast. I want to teach you a very simple yet powerful strategy to maximize your earnings when trading cryptocurrencies. This strategy will give you some indicators as to when to sell when you are in a trade where you are not receiving support/guidance from me or anybody else. This trading strategy will help you sell at the, or near, TOP of an uptrend.
Look at the following chart:
Notice that when the candles form a large stick on top (basically the candle is pointing downwards), then we have a few candles of resistance or pullback.
In this example it isn’t so obvious, because this coin right now is in a very strong run, but the red candles you see represent at least 10% drop in price or more.
After the first candle closes and give you the signal, you can sell at the following candle and then expect a retrace.
Let’s look at a better example:
As you can see, the price goes down when the candles form this large sticks on top of them.
Then you use the next support level (where a coin price stops falling after it starts to goes down) to buy back. But you don’t have to worry about buying back right now, since this is a strategy to help you sell at the top.
So make sure to check the candles whenever you feel like you want to sell. A completely green candle, can give you signals of more “green”, positive, upward action, while the large sticks on the candles, can give you signals of a reversal (change of trend, in this case; downwards). Red candles, are obviously telling you that things are not so prime to go up.
Additional tip: The indicator “TD Sequential”, which puts the numbers on the candles, is another HUGE indication of a coming retrace.
On the same chart above, you can see that the #9 produced the biggest fall.
If you want to take this to MASTER level, learn how to read candles, which I will be teaching in the future.
That’s it. ENJOY!
