Have you ever find yourself entering a trade because you saw it went 50-100%. As soon as you're in, it starts dipping? Well the reason is because after a big run. The market needs to relax before it can pickup momentum again. When this happens, we enter a consolidation phase. Depending on the time frame. The consolidation can last really long. This is when your patience is put to the test. Do not buy at the top. Wait for a slight pull back in a form of a bullish formation: flags, triangles, holding support, etc. Then buy.
Currently we have a bullish breakout for ARN followed by a consolidation. It seems to be forming a descending triangle/wedge formation. A very common pattern in all markets. We will look to enter at leg E for a 100% potential earning. What are your thoughts?
So we are aiming for 28k sats as our buy in range ? How many days do you expect it to take ?
AbdorhmanThi
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@r1sha6h, 28-30k sat is good buy range. I expect this to happen within this week. The impulse itself might be this weekend or early next week.
r1sha6h
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@AbdorhmanThi, Thanks, I started following you as you are the only one who had anything to say about OMG. I believe all other analysts just pump and dump coins and survive just because of their followers. Whereas I find your analysis quite interesting. Can you recommend a good starting place where I can learn to do my own analysis. Learn to use RSI, Macd, Stock, CSI, Candlesticks. Find, etc.
AbdorhmanThi
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@r1sha6h, Apologize for the late reply. I learned trading through a program called Trade Empowered. They focus on Forex, but you can use the technique in all markets. What they teach you really is a shift in mindset to succeed in the markets. They have a free trial and also free lesson on youtube. I have other source as well. But I highly recommend learning through them.
AbdorhmanThi
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@r1sha6h, Crypto price action is very basic movement. Mainly identifying major support and resistance. Find an impulse move and wait for a correction then look to enter for 2nd impulse following the original impulse.