You are viewing a single comment's thread from:
RE: Steem Backed Dollars: Approaching a MAJOR resistance. (SBD/BTC)
We just need to close above resistance on the daily chart and we should be good to go...nice analysis.
We just need to close above resistance on the daily chart and we should be good to go...nice analysis.
I'm not to much of a fan of "hourly/daily closes".
I think is just distortion: when does the day really closes? GTM? UCT?
Crypto never closes which is great for trading but also a limitor factor.
The same kinda questions arise when you think about stocks:
"Daily close" yet the stock only trades for 7.5 hours. Is that really a daily?
Back to the point: after a breakout of a major trend, i always expect a retest of the trend before the new bull cycle starts.
Usually the breakout is an extended wave 1 followed by a wave 2. Then volume intensifies and before anyone has noticed wave 3 blast the price.
I've always wondered this as well - I do see daily as a good indicator if you're interested in analysing a currency in your local time, but you should be able to also set when you want your "daily" to be.
For me the only relevant thing is the maximum/minimum the price has reached.
I don't give additional value to "close" or "open" values.
My two major arguments are:
Those are my two major concerns about it. Also, I don't really believe in japanise candlesticks (they're delayed because candle is not build till volume in the time is finished... which means you're always behind price action)
Thanks for your contribution @farc!
no problem - just sharing my amateur thoughts :)
you're a pretty good TA from what I can see.. you should check out my personal favourite Vertcoin and let me know your thoughts on that :)
Check out a post I made a while back about VERTCOIN.
https://steemit.com/trading/@luiggih/vertcoin-looking-for-a-3000-trade-in-2018
Not very much of a detailed analysis. However I think you'll get my point: great future ahead.
interesting - you picked a lower low but i think you got the timing close to right..
would be interested to see an updated prediction
Great points...agree with break outs usually lead to pull backs. How long have you been trading..you know your stuff?
Been trading for years making consistent gains since the beginning. I've traded loads of stuff: european stocks, american stocks, ETF, leveraged ETF and made a few trades into futures. I really enjoyed trading small-cap healthcare companies since they follow "pump and dump" schemes and the pump is sometimes quite predictable.
My background is economics degree and uncountable hours reading trading/money management books. Hopefully I can add some value to you.
Thanks for your support @rollandthomas !
Good stuff @Luiggih and hopefully we can add value to each other and the community.