Our trade today is for Legends Room ( LGD ). I believe we can make some money trading this coin. I truly do... let's look at the charts.
*** Legends ( LGD ) Trade Analysis & Instructions by Alan Masters ***
Buy-in: 0.00016 - 0.00022
Note: What this means is that you can buy this coin as long as the price is below 0.0002100 btc .
- A strong breakout can be seen on the , which happened on the 25th December. You might look at the chart and think that the increase in price is small, the candles are not so big based on the last all time high, but when you look at the price swings closely after this breakout, we are talking about a 100%+ price increase. So this is a strong breakout, and we are now in this new trend.
- If I draw a channel on the chart above, you can see clearly what I am talking about. This channel can be easily broken.
- The weekly chart is pretty basic but really strong. All the indicators are strong. Retrace and consolidation are needed and are a normal part of the market cycles, so this will be part of this trade as well.
- Low trading signals that the action is yet to start, this allows for plenty of room for growth.
>>> My Message To You Today: More Money
Today, let's focus on making even more money.
Remember that all you need to do is buy and wait. While you are waiting you hold.
Hold your coins. It is pretty simple.
You buy and hold, and hold while you wait.
The next step are the targets, that's it. You are in profit now.
You can sell the targets in whatever way you want.
You can sell a small amount on each target, you can sell everything, it is up to you.
You are in profits. So buy and hold, then sell on target.
That is actually how you get to the profits... with patience.
Mantra: "Om Stanesha Vahtu Nevehem"
Hold, and enjoy your profits.
Note: I was supposed to have the daily and weekly chart up there, but only the weekly came up and the charts can't be edited after an idea is public. You can look up the daily chart on your computer if I want to look at it while reading the indicators.
Thanks again for your support.
After our earlier run, the price is now on retrace and looking for support.
We are back on our trading channel and signs of a support being found are already present.
What happens after a support is found is accumulation/consolidation. People load up on coins until the next run starts.
How can we know if a new run will start? Because of the indicators and chart formation.
Here is why:
- We are still on an uptrend (chart formation).
- The indicators need to correct, in order to start over but are still on the bullish zone.
- Long term, weekly chart, shows plenty of room for growth.
This is what tells you that more action is yet to come.
When a coin price is going down, you will see everything going down and the uptrend being broken hard.
These are just small retrace, which is normal with our trades since we join at the bottom.
Before we see a full retrace like what you can see happened with EMC2 and NXT for example, we have to reach very high price levels. This isn't the case, this is just the beginning.
Here is the daily chart:
The weekly chart still looks the same. We have been in this trade for only two days.
I am still looking at Bitcoin and waiting for stronger signals as to when we will start to move back up.
For now we hold patiently.
I am not closing any of our trades since this is a market wide correction.
P.S. Tomorrow we will have a better understanding as to where Bitcoin is going, but we will resume trading soon.
Thanks for your support. I love you!
Here is the daily chart:
Here is the chart showing the long term potential of this trade/coin:
Here is the daily chart:
Feel free to hold long.
Quick Summary: Patience, we have been holding the support line amidst this correction/ consolidation period
1. Bearish candles formation on the Weekly (Bear).
2. Broken down from expanding rising wedge (Bear).
3. Possible double bottom forming, but seems like volume isn't picking up (Bull).
3.1 Seeing how candles have been moving sideways, there is a 49% chance this set up is also likely to fail.
4. Volume has been incredibly low for the past 2 weeks.
5. We are holding the support line (yellow) pretty well and price level is now sitting nicely on 38.2 fib.
Overall my view is prices are going to stay low given how manipulated the transactions are, wide spread and suspicious transactions of very low units isn't going to help in the immediate term.
Given this volume TA probably isn't going to help much since pictures are very easily painted when volume is low, so we shall wait and see.
Mine is a very short term analysis (8h chart VS 1D or 1W) but like what Alan wrote above, the possibility of long term (really long term, months) payout is definitely there.
Don't forget we are in a market wide correction and most coins have sunken deep (like the last alts dip which lasted 2 mths-ish).
After all it doesn't take a lot to push the price either way, so the game for LGD have yet to start. Both weak hands are being shaken out and price manipulators are doing their thing now.
Volume volume volume, it speaks a lot more than the candles you see.
What I gather from observing LGD's spread and volume, there is a lack of active buying in the recent 3 weeks but since selling/ price suppression is done on low volume.
Whenever there's a seller there must be a buyer in order to complete the trade. Let's just say this feels like someone's been collecting behind the scene amidst this shaking of weak hands.
Since my earlier post volume picked up approximately 40% (daily) and bounced from 11 to 14k before coming off (thanks to tether & bloomberg article fud) to touch my support line (yellow).
As long as the line reasonably holds itself, I don't think it's the end yet.
Upcoming resistance level to clear:
It takes time for trades to develop. If you think LGD will multiply your account in a matter of days, of if you can't fight your own fear, then trading isn't really the thing for you.
I am ready for the multiplier therefore I am willing to pay the price for this. Just reading my charts gives me a picture of what's happening, and that gives me sufficient confidence to support my actions.
To be honest, have you ever questioned why is there a current lack of buying support and a really wide spread? The answer is rather positive and really easy if you give it a thought.
If you've got time to swim in your fear, take some time and think about this question instead. It'll help you see the bigger picture.
*Note: Sorry for hijacking this space Alan. Just thought I should curb some FUD going on around here.