Update post production.....this was supposed to be a 4x chart window, idk why it only put one of the charts on...booo
Hello all,
I finally broke down and subscribed to a 'pro' account. I took the 30 day trial offer - but like I am not going to subscribe now, right...lol The penny pincher in me gave in and as a result I have been granted access to a whole world of fun new toys. Anyway, I now have the ability to look at an asset across multiple time frames at once and more importantly, have my volume profile back.....yay!
So here then is my first summary - Litecoin on Finex. I won't go into too much detail speech wise as I believe the picture tells a far better story then I ever could. So just some highlights. Golden ratio in play on Dailies, if we fail here next stop appears to be 200% extension level around $2.40. Counter trend rallies ought to run into serious resistance near the 38.2 Fib ($7.66). Bullish resolution of that level (probably down the road some time) would support OTE (short) zone objectives ($11.00'ish). Off the 4hour chart, Hoag would be selling the $6.00 area and buying $4.25. Those are interesting levels because they corresponds with a nice OTE (long) zone tag for HVTLg and looking at the 1hr I see we have a bullish BoT setup in play atm too. A bullish resolution through $5.10 would imply an upside ab=cd objective of $5.70 area which was the previously mentioned HVTSh area. There is a 15m double bottom working atm. Considering the lack of 'fullness' of the profile, I might be inclined to let it 'fill out' a bit before getting too excited. For those wishing to take longs off the double bottom, Stalking OTE long entries might be a relatively low risk way to get in on the trade. Risk against the double bottom and if it is broken - get out.
Anyway, lots of fun with new toys and never a dull moment in Crypto-land.
Cheers and best of luck in following those trading plans,
Brian
aka The Rational Investor
p.s. if you are serious about working on your trading skills and may actually consider trading for a living, please take a moment and visit our Bitcoin related trading site at www.therationalinvestor.co Along with regular blog posts and member videos, we run a school to teach aspiring traders the basic essentials to trading for profit over the long term. From risk management, to strategic planning to crafting a personalized trading plan, our 12 week program's aim is to give you the tools needed to survive and prosper over the long term. While the school has a bitcoin theme, all principles of trading are applicable across all asset types and classes...a good buy is a good buy...
Hello all,
I finally broke down and subscribed to a 'pro' account. I took the 30 day trial offer - but like I am not going to subscribe now, right...lol The penny pincher in me gave in and as a result I have been granted access to a whole world of fun new toys. Anyway, I now have the ability to look at an asset across multiple time frames at once and more importantly, have my volume profile back.....yay!
So here then is my first summary - Litecoin on Finex. I won't go into too much detail speech wise as I believe the picture tells a far better story then I ever could. So just some highlights. Golden ratio in play on Dailies, if we fail here next stop appears to be 200% extension level around $2.40. Counter trend rallies ought to run into serious resistance near the 38.2 Fib ($7.66). Bullish resolution of that level (probably down the road some time) would support OTE (short) zone objectives ($11.00'ish). Off the 4hour chart, Hoag would be selling the $6.00 area and buying $4.25. Those are interesting levels because they corresponds with a nice OTE (long) zone tag for HVTLg and looking at the 1hr I see we have a bullish BoT setup in play atm too. A bullish resolution through $5.10 would imply an upside ab=cd objective of $5.70 area which was the previously mentioned HVTSh area. There is a 15m double bottom working atm. Considering the lack of 'fullness' of the profile, I might be inclined to let it 'fill out' a bit before getting too excited. For those wishing to take longs off the double bottom, Stalking OTE long entries might be a relatively low risk way to get in on the trade. Risk against the double bottom and if it is broken - get out.
Anyway, lots of fun with new toys and never a dull moment in Crypto-land.
Cheers and best of luck in following those trading plans,
Brian
aka The Rational Investor
p.s. if you are serious about working on your trading skills and may actually consider trading for a living, please take a moment and visit our Bitcoin related trading site at www.therationalinvestor.co Along with regular blog posts and member videos, we run a school to teach aspiring traders the basic essentials to trading for profit over the long term. From risk management, to strategic planning to crafting a personalized trading plan, our 12 week program's aim is to give you the tools needed to survive and prosper over the long term. While the school has a bitcoin theme, all principles of trading are applicable across all asset types and classes...a good buy is a good buy...