Buy oversold, sell overbought. 3-8% profit on these swings.

BITSTAMP:BTCUSD   Bitcoin / Dollar
696 6 14
DO NOT OVER TRADE. People assume the best traders are the most active ones, and that we sit around all day staring at hundreds of charts. It's simply not true, but people love to over-complicate things. Pick a few reliable indicators, fine tune them to your liking, and follow the signals. Ignore the herd sentiment, the "fundamental" news developments, and all the noise. Trade what you see. Only price pays.
interesting to see the exact opposite of what you predicted happend. curious if you have any explanation on that?
May want to study that chart a bit harder. First, I didn't predict anything. If you look closely, there is zero mention of a price target - neither up nor down. Secondly, it played out how I anticipated it would. William's %R was flashing oversold around 246, and it bounced from there. I took profit once at 256, and I'm selling the last half should we touch 266. I trade $5-$10 intervals usually.

That dotted pink line indicates the buy zone of that red candle, corresponding with the oversold signal. I'll put an arrow trend line next time if that helps avoid any confusion.
+1 Reply BlockchainBoss
Thanks for clarification, assumed the descending dashed line with the Bitcoin symbol at the bottom was where you thought it was heading. Got in at 249 - out 259 myself. Thanks!
+1 Reply
nice one...
+1 Reply
i followed your advice and rebought at 249 after selling previously at 261. worked out nicely tonight as we're now sitting at 262.
i think there's still some upside momentum left but not daring to risk so i closed most of my positions and just left some play coins to see how far up this rally goes...
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