Cash looking pretty short term so we look at previous resistance and support and fibonacci levels to see probable areas of further action occurring. These are points of interest to keep aware of, not entry points for trades necessarily; having a large area of POI and a small area of actual trading activity increases , , ymmv.
and most other alts looking similarly so a long entry seems optimistic at the moment and a short entry may be a bit premature as the market looks a bit unsure itself, but a entry seems likely to be the short term more probable winner, considering the primary down trend. Whales tend to go full Lucy on premature trading Charlie Browns though.
# El trend es amigo
Some random advice for my long term bull buds, if I may, feel free to gloss over at this point…
If trading counter trend then be looking for a short term bounce at one of those levels indicated and have a clearly defined r/r w/ a tight stop loss and a conservative target.
times are likely at some point again in the future. Probably not tomorrow, or next month, might not be next year, but another crypto bull run is very likely considering the fundamentals alone. Looking at the charts from a technical perspective the is (I acknowledge my personal bias and still would ask for a valid argument against)
But my bull bros this is of utmost importance. Don’t starve to death before that run comes. Conserve your energy. Sharpen your skills. Define your tactics. Be patient or …
learn the values of the dark side. Question the tenants you were raised on:
hodl?
but what if you learned to identify primary trends and hedged some value by selling around obvious bull top reversals and buying more near bear bottoms? And then?
You might start to see that what you had percieved as the dark side is not actually evil but so inherently different from your perspective that your personal bias didn’t allow you to see the merits of the strategy.
Not everyone’s cut out to be a trader. Not every trader’s cut out be be a LTF-HTF, strategy fluid, money making emotionless machine, with long/short, scalp, arbitrage, swing, invest, hedge, do as the markets command- type of arsenal in their pocket monster exacting each trade as they constantly adapt to new information.
Most of us are human. So set goals. Learn your system. Backtest it. Papertest it. Employ it. Refine it.
In the end the trader who is not defined as bull or bear is certain to bring balance to the charts. The prophecies have told. It is known.
_Peyote-Satoshi
Published at Fri, 28 Dec 2018 00:04:16 +0000
