http://www.cryptotradingmastery.com/
*** please RESTEEM and VOTEUP if you like this post ***
Let me first start by saying this strategy is more advanced so if you are struggling to understand this, I apologise for throwing you in the deep end.
Lesson: There is great power in measuring the ranges.
To have a larger view of the chart, just right click on the chart image and select "View Image"
In this 15minute BTC chart, which is 100% live and current, (no hand picked hindsight charts) - here we see a downward channel so there is no disputing we are in a down trend.
Our advanced technique involves measuring the strength of the rallies to ascertain the strength of the buyers.
What value is this?
When we know that buyers are only able to push the market up by a certain price range, then we lie in wait to pounce with a sell order everytime they reach the previously measured upper section of that range. The ideal trade, is one that coincides with a Fibonacci Level, this provides us with a very low risk and high reward trade.
The red arrows on my chart, represent the range of the buyers strength. The current red arrow, is where we are now showing that the buyers are currently trying to push the market up to the same range they were able to do in the past (our Sell Zone).
We know (as we did our homework) that in the past when they have reached the upper portion of this range they have previously failed. So we lie in wait, ready to sell to those buyers unaware of this powerful knowledge. Our stops are kept tight, as if it exceeds this range by a significant amount this implies the buyers are gaining strength and we want to reassess.
Hope this helps.
If you like this post feel free to "Resteem"this post, Vote Up and follow me at "https://steemit.com/@supertrader"
If you are interested in learning how to trade in this exciting new cryptocurrency market, from a 10+year Veteran Trader, I would love to share my knowledge, experience mistakes and journey. The trading value I can offer you covers:
- PROFESSIONAL STRATEGIES
- RISK MANAGEMENT and
- TRADING PLANS
These strategies will EMPOWER you to trade ANY MARKETS - Forex, Stocks, Futures, Options, ETFs
If this of interest to you, then register your interest with my site I would be privileged to educate you.
Website : http://cryptotradingmastery.com/
YouTube: https://www.youtube.com/playlist?list=PLn7YikUv2BchBGW8Gza0o6uOPAb3Sop9Z
Good article, indeed range is important as I was bitten by a flash crash that triggered a stop loss just before a massive rally
The idea is to get in with low risk high reward. Many traders just jump into the trade witthout timing the lowest risk and only focussing on the greed,