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 nextto 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!