Lots of choppyness with 6350 as strong resistance --- doing alot of scalping on future contracts but for the rest of the day here is my strategy:
China is waking up and volume will pick up.
Tread lightly as we are trying to break out
But not overly bearish signals here.
Stop losses --- and short if it drops sharply beneath 6200 ---
Stagger buys up if it continues to trend that way
I am playing with 20% of the coins I usually do
because there aren't alot of tell-tale signs
Happy Trading --- Lock in gains ---- Minimize losses --- Make sure to always have a chart of 1hour view and 1 day view ---- don't obsess over the 5 min chart ---it will make you emotional and flip flop and be eaten by spread/commission ----- patience is a vurtue
"Be greedy when others are fearful and fearful when others are greedy" - Warren Buffet
China is waking up and volume will pick up.
Tread lightly as we are trying to break out
But not overly bearish signals here.
Stop losses --- and short if it drops sharply beneath 6200 ---
Stagger buys up if it continues to trend that way
I am playing with 20% of the coins I usually do
because there aren't alot of tell-tale signs
Happy Trading --- Lock in gains ---- Minimize losses --- Make sure to always have a chart of 1hour view and 1 day view ---- don't obsess over the 5 min chart ---it will make you emotional and flip flop and be eaten by spread/commission ----- patience is a vurtue
"Be greedy when others are fearful and fearful when others are greedy" - Warren Buffet
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Could turn into a perfect reverse head and shoulders
