OMNI, this is a trade analysis that is exclusive for you, but this is also a trade that will put your patience to test. This trade will test your patience because it is already overloaded on the daily chart, but it is a good buy for the longer weekly term.
So, are you in for trading it and making huge profits in a weeks times, or will desperation take the best you, and tell you to run and hide?
We will know really soon. Let’s start this trade.
– I put up two chart in the opening of this trade. On the left you can see the daily chart, which is obviously overloaded and looking to go down. On the right side, you can see the weekly chart, where the action is just about to start. So what would you do? To trade or not to trade? Do I want to make money? Can I wait for two days?
– The short term is bearish, the daily chart, so let’s forget about that, there is no fun in looking at a coin that it is going down.
– Now, look at the weekly chart. This is the one on the right. You might think that the candles there are pretty small and that there isn’t much action, but that is not the case. As an example, candle #2 had a low of 0.0034 and a high of 0.0060, that’s almost a 100% swing in price, in just 1 week. The next candle, candle #3, also had a huge swing in price, with prices going as low as 0.0043 and as high as 0.0067. Now, there is something to learn here, regardless if you choose to join this trade or not.
– The weekly candles are doing something pretty interesting, specially for someone that wants to learn to understand what are the charts trying to say. Each week, the lowest point is higher than the previous week and the highest point is higher than the previous week. So you have higher highs and higher lows. The key word being higher. This is also true for the first candle.
– What I just described above, its called a bullish signal. A signal that says the bulls want action. Which means that they are working to push the price up.
– The next indicator to look at is the MACD. It clearly shows a curve and a “cross over”, which is the blue line crossing the orange line in order to start moving up. This type of set up is bullish for several reasons. One is the obvious one, the curve shows that the indicator isn’t pointing downward anymore, it is now pointing upward, and, since it is sitting at the bottom, it has plenty of room for growth.
– The RSI & STOCH are also pointing up. The weekly chart is bullish, the daily chart is overloaded.
– So, this is a pretty simple set up. You wait in the daily movements for the price to go down so that you can buy low, and then expect to see positive upward action in the weeks to come.
– I know that you like these classes, because I am also learning as I go. So use this information to your advantage, and when joining this trade, make the BEST POSSIBLE CHOICE.
– Here is the daily chart without looking at a close up. The rise you see on the left, is not as big as you really thought, and the long term shows that this is really a small pump. This is a great trade to make profits where otherwise most people would run.
Buy-in: 0.00470 – 0.00650
(7) 0.0691 (New all time high)
Note: These targets are reference points to sell on the short and long term. Sell when you feel comfortable with your earnings. Buy low and sell high. Not all targets are meant to be reached.
To trade or not to trade?
Why would I ever spend time complaining, when there’s a lot of money to be made?
Am I right or is he wrong?
Whatever the answer to my question, I just don’t want to make the choice.
To trade or not to trade?
Again, I understand. I have to make my own decisions, if I want to become successful in this game.
Ok, let’s stop. Is it him or is it me?
It doesn’t really matter, buy your coins and go to sleep.