So clearly on the 1 hr chart an inverted H&S has formed. I believe this is the case with quite a few alts at the moment however I already have skin in the game here, so fingers crossed for a text book play out! Happy trading
Just a thought on targets. Lots of people believe in holding on to them. Lots of people miss out on collecting cuz price has just missed their target. I tend to disagree with the majority.
I take my profits near targets (not advice for others). My reasoning is that, the money is there and to lose it cuz price it is a small distance away from a supposed target is a wasted effort. So for me, I prefer to suffer missing the gap, but taking the big chunk. Price could then move madly above the target. Many years ago I'd feel hurt about that. Now I don't. But as I always say, trading is a very individual business. If you're not losing in this business you're winning.
Captain_Walker
⋅
Nice one!! Love it.
Mattytwy
⋅
@Captain_Walker, yep, my targets are usually boxes that cover the action with a tolerance for chaos. I have seen a lot of almosts..... so i adjust accordingly
I take my profits near targets (not advice for others). My reasoning is that, the money is there and to lose it cuz price it is a small distance away from a supposed target is a wasted effort. So for me, I prefer to suffer missing the gap, but taking the big chunk. Price could then move madly above the target. Many years ago I'd feel hurt about that. Now I don't. But as I always say, trading is a very individual business. If you're not losing in this business you're winning.