There's a lesson to learn in keeping your chart clean and referring back to you notes!
I predicted a relative strength index divergence on October 25th in a related published idea. Made a purchase at the first blue horizontal line, 0.00004207. I sold at the second blue horizontal line, 0.00004926, for roughly a 16% increase, only doing so assuming it was the top of the breakout.
If I would have referred BACK to my previous published idea (linked below), I could have looked for a divergence, seen as the purple horizontal lines on the R.S.I. Noted though, it is difficult to see. Instead of selling the token, there was an opportunity to catch the easier to spot divergence . This would have allowed an additional 9% increase, if sold at the top green horizontal line, 0.00005388
Ways to have prevented/predicted this increase: referring back to some of Thomas Bulkowski's writings, specifically "Getting Start in Chart Patters" Second Edition, he mentions a 25% increase, and to look out for this as a possible "top" to an upward movement. At the time of writing this (11:33 P.M on 10/26/2021) Shib is attempting to break resistance at, 0.00005361. Shibainu might reach a peak of 0.00005555-0.00005600 at a later point. A 30% increase seems to be an "average" for larger moves in the crypto-market, with a target around 0.00005750 (possibly).
Upside: Selling at the 0.00004926, for roughly a 16% increase is still a "smart" move, as selling at an increase is preventing any loss by a down-trend. This of course excludes larger uptrends, like the one seen here to 25%. Thomas Bulkowski also warns that 15% is a good selling point. Additional upside, it is clear (at the time of writing this) the SHIB is struggling to break/keep the resistance line, green horizontal line, 0.00005388. Plus, as Mr. Bulkowski puts it, you never go broke taking profits.
*for additional trading information, visit: thepatternsite.com/ (Thomas Bulkowski's' free Site), or see my previous published ideas.
related SHIB published idea linked below:
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update: 12:51 A.M, 10/27-2021. switching the chart to an even smaller time frame (5-minutes) a similar R.S.I Divergence can be seen, another bullish signal. with resistance at the the top red parallel line.
Completely un acceptable that this coin did not drop 13 percent a simple 13 percent for my buy in to pop I am extremely un happy with this pump and dump scam that’s all this coin is. Pulled my money at 22 to save 3 k out of the 10k I lost because I and everyone else agreed this would dump everything on the charts shown it was going to dump any other coin would have dumped. But no course I move my money and it pumps right after man Never in my entire life have I witnessed more of a bullshit coin I had bought 360 mil at 11 now I’m fucked. Are you serious ?? It was supposed to keep dumping when I pulled my money.
marcosdaunte
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@Zigs2120, your comment is a little difficult to understand in it's entirety. I HATE missing profits, so I had to make a trade...but of course, not more than I was willing to loose. NOT investing would have seemed like a "dumb" move, but a smart entry and exit was the key for my 16% profit. It seems like I left an additional 20% on the table after the recent uptrend. I am sorry for your loss though.
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