Hi im kind of new, and i keep seeing these long/short exit projections, and i can't seem to find any information about what people use to make these predictions. My biggest challenge is figuring out where to exit on long positions. Thanks!
BuyPennyCrypto
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@conormcqueen, personally I use 15 years of experience of looking at these, combined with academic and trading license training. Read books about statistics, economics, psychology, and finance. Keep an eye on fundamentals, news, and social media trends. Exit on long at around 80% of when it has run its course. It will be different in each situation - based on momentum. In case of this trade - you want to exit no earlier than 220, where as at the moment it has consolidated at 145.
conormcqueen
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@BuyPennyCrypto, right, but other than "just knowing" what advice could you give someone to figure these numbers out for themselves?
BuyPennyCrypto
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@conormcqueen, reading up on trend analysis / technical analysis. These shapes are driven by real market forces, such as volume, buy / sell order books, and forecast modeling of the possible market moves. There are online tutorials and endless books on Amazon, but that will just give you an understand. Mastery comes with experience of actually doing it, getting it wrong, then doing it again and again.
@BuyPennyCrypto, Sorry, im new to tradingview, and couldn't figure out how to make the text go away
BuyPennyCrypto
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Interestingly, the breakout apex is right around New Year's midnight - the supposed time, according to a possibly-fake rumor, when Coinbase might reveal its support for Ripple.
feikaras
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BTC is about going up. 220 is not possible.
BuyPennyCrypto
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@feikaras, in the next several hours BTC is going to hover around 14,000, possibly going to 15,000 max, while Ripple is going to test 2.25, with a 3.00 test a possibility in the coming days.