BINANCE:AEBTC   Aeternity / Bitcoin
Expecting a cup!
Targets are on the chart, no stop loss as its already on bottom.
Trade closed manually
Trade active:
I think you have possibly been misunderstanding the signs that form a cup n handle. Most important part that you might be neglecting is the length of time that this coin has been around. The fact that AE is very new and only just hit Binance last week there has yet to be enough time to really know what is a fair evaluation for this coin to call its support, or bottom. Often when a new coin hits a big exchange the impulse to buy it up quick before others get a chance to is very hard to resist. I myself have fallen into this trap atleast once or twice. I can remember when IOS token came out i fell for the hype and took a pretty nice loss in the process. It is often better to wait for a new coin to get a few weeks or months even of data built up to be able to use in your TA. Or if you really can't wait i suggest you try to use the 5 or 1 min time interval when trying to apply TA to a young chart. You might consider trading out of a coin on the downtrend like this and putting in a short position to try and recoup some of your lost coin. I can't tell you where the bottom is but when i coin is on a continuous downtrend like this one way to try and determine where the potential bottom or support might be is by looking into the order book. You want to ignore the unreasonably low orders like the ones for 1 satoshi of course but look for a group of large orders realitivly close to each other that can provide support for this coins price. As painful as it might be to hear on this coin i am seeing a great deal of support from the books right near the 1500-1000 satoshi range. So one way to play it would be to sell off your AE now and place a buy order somewhere close to but safely above the mass of orders in the book. say 1750satoshi to be safe. You will of course have to monitor things incase there is a big change in the price action that starts to drive the price up but if you get that 1750 order to fill or lower you will be able to make up a good portion of loss you might have incurred so far. You can also of course just HODL but just remember that if your taking the HODL route you really need to be in it for the long haul, meaning as long as it takes to get the price point you where originally hoping for. I can say with absolute assurance that AE is not going to tank forever and that if you just turn off your comp and forget about this investment for the next month or two or three you will be so happy when you come back and see a five dollar coin and a lot of profits. If you do decide to short this coin just make sure you are actively trading during that time so that you don't miss a crucial change in trends and end up missing out on a positive retrace period. Also you need to observe the buy walls that are in place because they will move in order to get the best deal they can or to compensate for a change in trend. Anyways thats just my two cents, or should i say two not so lol but i tried. Keep up the practice guys and always remember that if your learning how to be a better trader/investor then its money well spent. peace
+1 Reply
im_sng Xelcoin
@Xelcoin, Thank you very much sir
Thanks for you analysis, I'm balls deep in AE from 3300 to 3200, I was expecting a cup too
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