Hello traders,
I did an analysis of one cryptocurrency pair, but most of them are in similar places. I expect that if the price gets into the green zone I will look for buying opportunities as we are currently in a place of potential consolidation.
The markets are very uncertain and it is not clear from the chart whether we will go up or down, therefore it is very important to define strong zones for a possible market turn, wait for the signal and react with a good RRR!
Good luck with your trading! :)
IMPORTANT WARNING:
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Rebounds from marked zones created by trading positions of large institutions such as banks or various financial funds may not create new HH or LL and therefore it is very important to collect partial profits at least according to these rules. This will help you to keep your equity curve constantly growing and protect your funds from big drops if the price unexpectedly turns against you. But the decision is only in your hands.
I personally prefer setting up multiple TPs , here's an explanation:
1) 1:1 allows you to take a 50% position and thus secure a balance against loss in case the market turns
2) 2-5 :1 means profit (25% trade volume ), after reaching this TP I move SL to BE
3) 5-10 :1 means bonus money with rest of trade volume (again 25%)
Money is lying on the ground, just bend down for it! Be patient and wait for the price to reach a strong zone and open a position!
I did an analysis of one cryptocurrency pair, but most of them are in similar places. I expect that if the price gets into the green zone I will look for buying opportunities as we are currently in a place of potential consolidation.
The markets are very uncertain and it is not clear from the chart whether we will go up or down, therefore it is very important to define strong zones for a possible market turn, wait for the signal and react with a good RRR!
Good luck with your trading! :)
IMPORTANT WARNING:
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Rebounds from marked zones created by trading positions of large institutions such as banks or various financial funds may not create new HH or LL and therefore it is very important to collect partial profits at least according to these rules. This will help you to keep your equity curve constantly growing and protect your funds from big drops if the price unexpectedly turns against you. But the decision is only in your hands.
I personally prefer setting up multiple TPs , here's an explanation:
1) 1:1 allows you to take a 50% position and thus secure a balance against loss in case the market turns
2) 2-5 :1 means profit (25% trade volume ), after reaching this TP I move SL to BE
3) 5-10 :1 means bonus money with rest of trade volume (again 25%)
Money is lying on the ground, just bend down for it! Be patient and wait for the price to reach a strong zone and open a position!
