Each person has a different perspective of looking at the market and it's all fine. you can be a supply and demand trader , support & resistance , Trend lines trader , indicators trader or use any trading strategy. I have even seen traders that trade news only.
Your trading style doesn't really matter. if you're using a specific charting technique and someone is using a different technique to evaluate the charts that doesn't mean you're right and he is wrong
The only thing that matters is profitability, If your edge is keeping you profitable , it's all right.
Today i am giving you a cheat sheet and one of the easiest way to make money in market. (only if you apply it right). See the attached picture
1-find a price range, the area that is resisting the price multiple times.
2-wait for the price to break out of it
3-once the price breaks and closed above that area and when the next candle breaks the high , that's where you will get a trigger for your entry
if you can master this simple strategy, you will be able to take trades on your own. it works on all timeframes. Each timeframe produces different results. For example if you're looking at 1hr chart and your entry , exit will be based on 1hr chart. Similarly if you're looking at 1Day chart your entry and exit will be based on 1D chart.
The same area you used as the breakout will be your invalidation just in case it doesn't work in your favor because you will not be right 100% of the time.
And remember a bullish setup works perfectly when you apply it on a bullish trend. The easiest trade is the one that is taken in the trend direction.
i posted it before and posting it again because we are in a market condition where this strategy can help you to make money.
This move down on $BTC was somehow expected as i discussed it in my today's video that we have a fakeout of $65k on daily chart. it's mostly fueled by the uncertainty of war Iran attacking Israel.
If you have no idea what's going on your much better position is don't take any position or if you really want to, Do not trade with leverage do it on SPOT as you never know how bad fundamentals can destroy the market.
Remember that fundamentals can always outperform your technical analysis.
$DOGS down 50% since crypto mechanic told you it's not worth buying .
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$DOGS worth buying? I don't see any reason to buy it to be honest. Price spiked up but gave it back already.
Still so many airdrop holders and most of them are waiting to claim their airdrop. I personally would like to give it some time unless everyone receive their airdrop tokens and how price reacts to it.
If you're trading this one i think a better setup will be once price holds above $0.001500 zone.
I can post multiple coins chart that had a first spike up and then price continued to drop. I'll give it time.
The current price action & fundamentals on Bitcoin are quiet similar to what we saw in 2019 and 2020
Price was trading in sideways and then we witnessed the 2020 pandemic sell off and then price started to move up when FED started to cut interest rate.
We now have the same picture, it's been 7 months $BTC trading in a range/sideways and we also witnessed a sell off all the way down to under $50k and now FED started cutting the rates. Coincidence ?
Am not saying we will the same move as we saw in 2020 but i think things are pretty much Aligning. The chart is bullish, Fundamentals are bullish. Lets see what we get.
Getting multiple comments to look at $SUI Sui Looks fine and might just break through that All time high. Looking at it as a trading or new trade perspective, I do not really have a trade setup on it as i don't want to chase it at this zone. I will post it if i see a good setup on it but for now i don't have any.
Just in case we witness a sharp move down in market, Sui is the one to keep in your watchlist i would say.
$HMSTR Broke below the low it was holding before. As long as price doesn't bounce back above it i don't see anything interesting in it. Telegram game coins did the exact same thing after listing. you might don't understand it so i will add $DOGS and $CATI charts.
Look how identical these charts are, Moving in a same pattern. The reason is quiet similar as well, Millions of people received these airdrops and they're cashing out whatever they can.
I shared $SEI trade setup last week and it provided a nice move. I think for this week there can be two plans as it's sitting at key resistance zone. Either price holds above $0.500 the longer it holds above it the likely it will provide a move. or a pullback under $0.400
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$SEI Bounced from the key weekly demand zone. I think price should not close the daily candle back under $0.33 zone if there is more upside due in it.
I posted $WIF trade setup when price broke out of $1.95 zone and it provided a nice move. Chart still looks fine currently pulling back with the rest of the market. I made another post to take partial profits. I do not see a fresh entry on it yet but i think a pullback into $2 - $2.12 can be a good play.
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$WIF Attempting the trendline + Horizontal breakout here.
i think the longer it holds above $1.85-1.94 zone the likely it will provide a move up.
Let the daily candle close above here and then entry on the small timeframe pullback.
$PEPE printed a great weekly candle , Above the weekly lower high and the trendline, As long as price is holding above it, Pepe holders can expect more upside. For a new entry i think a pullback closer to that breakout zone would be less risky. Lets say under 10000 zone