I would like to show you an example of a missed opportunity. This can be good learning for all those interested in learning about how these charts and markets works.
I know about Cloak for a while now, I remember when it was hot a few months ago on Bittrex, so I always kept it in my mind to catch the next run. I was aware of this coin and many people sent it to me around the 19th - 20th December, when it met all of my requirements for a great, safe, profitable, long trade.
Now, many people think that the markets moves when I share a trade idea "because of my followers", not knowing that these coins will move whether we join/trade them or not. And this is the best example. These indicators never fail me.
I missed the boat, was busy doing support and you can see on the chart, how on the 19th-20th the breakout happened, and after that, you can see the huge increase in price and now the coin has been in an uptrend since. This is exactly the type of trade we like and join.
We buy low, the breakout confirms the new trend and we ride it all the way up, and sell as close to the top as possible.
So look at the chart closely, see that this new trend has already been going for over 10 days and will most likely keep on going until the last high is tested or a new all time high is established.
Now, this coin can still be traded, of course, but it won't be as easy and profitable as if I recommended it at the bottom. For this I call it a "missed opportunity", my focus is ease of use, ready for beginners too. I wouldn't share it anymore after all the action that has already happened.
So this is a great example of why it is good to join and wait. Also you can see my profile @ Trading View, to see many more other coins that I recommended that are in the same exact situation. We buy low, near the bottom and then it just goes up, up, up and up. It doesn't really matter if you or I join, these coins reached a point where they just want to start a new bull run.
So we don't move the market, the market has its own self control mechanism, we just ride the wave and take as much profit as we can, from the day the action starts, to the day we close the trade.
I am new and love your charts and guides, they have helped me and tons others
My question is this, what exactly did you see on the graph which indicated a good entrance was coming up? How did you know it wouldn't keep tanking, what form of TA did you use and or logic. Thanks in advance
satertrading
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Alan, this is a great point, especially for beginners to hear, and I am glad you made it.
I am new and love your charts and guides, they have helped me and tons others
My question is this, what exactly did you see on the graph which indicated a good entrance was coming up? How did you know it wouldn't keep tanking, what form of TA did you use and or logic. Thanks in advance