(Nov. 26, 2018)
This is a good opportunity to practice your price action skills. Before moving the chart forward, answer the following questions:
1. Would you go long, short, or no trade...right now on the chart above?
2. Reasons for trading or not trading?
3. If you would trade, call out your stop loss and take profit.
Then scroll the chart forward to see...
(Oct. 5 2017, Daily)
This is good practice to recognize price action setups. If you would trade this chart, before you hit the play button on this chart, leave a comment below and let me know:
1. Why would you go long or short?
2. Where would you place your stop loss?
3. Where would you place your take profit?
If you wouldn't trade this chart, then simply...
The next support level will probably be at about $6K. There is a lot going on with the Segwit2X fork so price might go a little higher because people are buying to get the benefit of getting the new coin for free, if they own Bitcoin. But after the event passes, we will probably see some normal correction and this might be a good level to buy again.
Price and volume are getting very quiet in the SC/USD currency pair. It looks like all of the hypesters have potentially been shaken out of their positions and we may see some accumulation. The Sia project is still on track and they have a working product.
**Not trading advice, think for yourself.