MY FIRST TIME TRADING STEEM|USDT 10%-Tron-Fan-Club
Good day everyone and welcome to my blog.
I will start by announcing to us that STEEM now has a tradable USDT pair on Binance.
Congratulations to us🎉
Today, I made a trade on STEEM|USDT pair using Tradingview platform and below is my simple analysis.
I started by adding two smooth moving averages of length 21 and 50 respectively and 1 RSI indicator.
I waited for the price to break below the moving averages and also move below the mid-point of RSI which serves to provide confluence for my trade.
After the two indicators provided a bearish signal, I opened a sell position.
- See below
After that I kept observing the price as it kept going as predicted.
I couldn't keep starring at the chart as I had other things to attend to so I left the trade open while I attend to other things.
Hours later, I came back and saw that the price already smashed my target.
- See below
- MY EXIT
My exit position was taken in consideration of market structure which made me place my target at the closest support and my stop-loss just above the bearish candle that broke the MA with both being in a risk-to-reward ratio of 1:1.
- RESULT
Thanks for reading through my post.
CC,
Tweet link
https://twitter.com/EbullientSrr/status/1517881104040136705?s=19
For the first time you have traded Steam / USDT in a very nice way using Binance. And beautifully explained the process. However, one thing seems to me that it would have been better not to mention the moderators.
I'm sorry about that. I really appreciate your nice way of correction.
I will endeavor not to repeat such.
Thank you
Please don't mention admin and mods in every posts. All the posts in the community must be checked by any of the moderators. thanks for your experience sharing of trading the pair of STEEM USDT.
Thank you.
I won't mention the admins again.