Candle closed red. What are your opinions on it now. Still down?
A7654
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@RobJay, 7.1k local target hit. Volume is kind of weak here. That usually tells me that we have further down to go. As there is nothing specific interest here.
RobJay
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@Granter, yes it's looking bad for bulls. My instinct also said this would fall but I'm bad at choosing entries and exits and often over leverage.
A7654
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@RobJay, Aight i hope you making good money on the move and that it motivates you to learn trading for real. (Y)
RobJay
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Please do keep me updated. I really need this one to work out. So far so good. Your ta has been spot on. I didn't know it was possible to predict prices so accurately!
A7654
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@RobJay, Ah you can predict a 50% market crash to the dollar if you know what to look for. I take it you are new to trading?
Trading is all about have proper risk management. Finding good entries at support or resistance with 1-2% risk to gain 5-30% moves. By doing so you can easily lose 5-6trades and win 1 and you will be at plus minus 0. Of course by taking enough trades with the "perfect setup" you will eventually become profitable.
Avoid people who use tons of indicators, they have no clue what they are doing.
Not much to say about this currently. It will either break up or break down at this point. I expect it to be quite violent. Keep your stoplose tight. Profit target around 6871-6930 scaled, next should be at 6670-6735 You should be out of 90% of the trade by here. leave 10% rolling. if it breaks down towards 6150. but we likely to fuck around in this range for a while.
RobJay
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@Granter, I'm not as new as you'd expect but have never managed to learn ta and generally been following what turn out to be terrible calls from other people. Lost a lot of BTC that way and I'm really in last chance saloon now.
Really appreciate your insights. You've inspired me to break out the books and try to learn this stuff.
RobJay
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Excellent. I'm still watching it too.
RobJay
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Thanks for this. I got my short ijn at 7166 - I'll be sure to sell and then short again when it revisits.
Please do keep us updated
A7654
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@RobJay, I expect it to come up towards 7169~ and drop.